Discover it credit card limits can be as low as $200 or $500, depending on the card. The available Discover it cards include offers for people with good and bad credit alike. Each has a specified minimum credit limit. So, you’re guaranteed of getting at least that much spending power if approved for an account. But there’s no way to determine whether you’ll qualify for a higher limit prior to submitting an application. Some Discover offers listed on this page are not currently available on WalletHub and may be out of date.
Here are the minimum Discover it credit card limits:
Those are just starting points, however. If Discover determines that you’re a responsible borrower with enough income to support a higher limit, you may just get one. And they’ll make that determination by considering a fairly short list of key financial indicators. Your credit limit will ultimately be decided based on several things, like your credit history income and existing debt obligations. In other words, they’ll grand you as much spending power as they think you can handle responsibly. You can find out more by reading WalletHub’s article on how credit limits are determined.
The Discover it® Cash Back credit limit is at least $500 for all cardholders. It has the potential to be higher too. Discover does not disclose a maximum credit limit, but there are reports of some cardholders receiving credit limits between $2,500 and $9,000.
As with all credit cards, an applicant will need to exceed the Discover it Cash Back card’s approval requirements in order to get a credit limit above the minimum. Credit limits are based on much of the same information that account approval itself is. Most notably, that includes the applicant’s credit score and their income vs. their monthly expenses.… read full answer
Discover it Cash Back’s credit limit minimum is identical that that of all other Discover it credit cards, with the exception of the Discover it Secured Credit Card, where the limit must be set by a security deposit as low as $200. In addition, the Discover it Cash Back card’s $500 limit is comparable to the limits on similar rewards credit cards for good credit, such as Chase Freedom Unlimited®.
Keep in mind that your initial Discover it Cash Back credit limit is not necessarily your credit limit forever. You have the opportunity to ask for credit limit increases. You can ask for a credit limit increase through your online account or by calling Discover at 1 (800) 347-2683. It’s best to wait until you have at least six months of consecutive on-time payments before asking for an increase. Your credit score should also be better than when you initially got the card. Discover may also offer you an automatic credit limit increase during their periodic review of your account, but there’s no guarantee you’ll receive one.
The Discover student credit card limit is $500 or more for both the Discover it® Student chrome Card and the Discover it® Student Cash Back Card. There is no reported maximum Discover student credit card limit. Discover may increase your credit limit if you consistently pay your bill on time. Your initial credit limit will be based on a review of your credit report, income, debt and other information to determine your creditworthiness. Discover does not permit applicants to request a specific credit limit.… read full answer
The Discover it Student chrome and the Discover it Student Cash Back cards are among the best in their class. They have a $0 annual fee, and you’ll get matching cash back at the end of the first year.
Where the cards differ is in their ongoing rewards on purchases. Discover it Student chrome gives 2% cash back at gas stations and restaurants (up to $1,000 spent each quarter combined), and 1% back on all other purchases. Discover it Student Cash Back gives 5% cash back on up to $1,500 spent per quarter in bonus categories (which change every quarter and require activation), and 1% back on all other purchases. Both of these cards are good options and give you a respectable $500+ credit limit.
Discover student credit card limit info:
You are guaranteed a credit limit of at least $500 on each Discover it Student card.
Discover will periodically review your account and may offer a credit limit increase if you’ve been consistently paying on time.
You can request a credit limit increase online, or by calling customer service at 1 (800) 347-2683. You should wait until you’ve paid at least six straight monthly bills on time.
If you decide to keep your Discover student credit card after you graduate from school, it will be converted to the non-student version of Discover it® chrome or Discover it® Cash Back. You’ll keep the same card with your existing credit limit and all the accompanying features and rewards. Once Discover receives your updated income information, you may be eligible for a credit limit increase.
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