Credit Line Increase!

Even in the midst of the chaos of unpacking, I'm getting checks in the mail (tax refund and stock dividend), as well as a credit line increase from Discover!

I've been using my Discover credit card for only four months now, and I've been granted an automatic increase!

Congratulations! We're pleased to inform you that your outstanding credit management in the first year has earned you a credit line increase on your Discover® card.

The new credit line on your Discover card account is $650, of which your cash credit line is $300.

In the coming months, we will continue to evaluate your account in the first year. Make sure to make your payments on time and stay under your credit limit. We may review your account and increase your credit line automatically if you qualify. If you would prefer not to receive automatic credit line increases, simply give us a call at 1-800-347-3085.

I checked my records, and apparently my credit utilization for Discover is less than 1%. Hehe. That doesn't mean that I don't use the card or reach the credit limit of $500; it just means that I usually pay off the balance before my statement is due so that the recorded monthly balance is zero or minimal.

(Hey, even if that's only $650, it's still $650. Which is a big deal for a foreign student just starting to build her credit history. It's around Php28,650 too. Not bad.)

My credit cards will be my lifeline if I ever run out of money before I get my first paycheck at my next full-time job. So it helps if I get surprise credit increases like this in the future!


Tips:
The key ways to achieving a high credit score are simple: Pay your bills on time, avoid carrying a credit card balance, and make regular (and on-time) payments toward paying down your debts as quickly as possible.