My Discover card just gave me a nice little present in the form of an increased credit score so that just made my day. How is this possible? Well I got a letter in the mail saying that because of ‘outstanding credit management’ they were increasing my credit limit on the card. Now the increase is not a big one where it gives me a high limit that might look suspicious. The increase was enough, however, to make the current balance that I carry on the card stand at 61%. This is a drop from being at 74% so this makes my usage look a little better and this will increase my credit score.

Hey if it even goes up by only one point that will still be good for me. Discover only increased the rate in the hopes that I will be using it for purchases as is evidenced by the statement “Your increased buying power makes Discover Card the best choice for all your purchases”. However, I really wish that they would also lower my interest rate. This is my oldest card and it is also the one with the highest limit so I will not be closing it out. It is also the card with the highest interest rate so I will NOT be using it to make any purchases if I can help it.

So in summary:

Higher limit-Yay!

Higher credit score-Yay!

Still high interest-Boo!

Well two out of three is not bad in this case.