Discover is not a good creditor
Written: Dec 06 '03
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Pros: website
Cons: Customer service, treatment of customers, cash back rewards.
The Bottom Line: Skip this creditor. They are just not worth the hassle.
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| jcharet's Full Review: Discover Card |
I have been with Discover since 1996. I am not happy with the way that I have been treated. Unfortunately, I was foolish enough to run up my balances 3 times to limit and about to pay it off for the 3rd time. They increased my interest rate the last time from 12.99 to 25.99 (including cash advances) because I was close to my limit. Never mind the fact that I donot pay my creditor late or that I have at least a 700 FICO score (which means I pose a low risk to pay the loan back). I had to call 4 times to get it lowered to 13.99%. Realisitically for a prime card and a 700 FICO, 13.99 is not even a competitive interest rate (Citibank is at 9.9% and State Farm is 10.9%).
Their cash back rewards as others have said is very deceptive and stipulated that you accumilate $20 worth before you can cash them. You are usually receiving .25-.50 back unless you spend over $3,000 when the 1% would kick in.
I am not fond of their customer service hotline because one week I am told one thing and another week is a whole different story. Exanple: I called last week to find out more about a $5,000 balance transfer. I was told that they would be glad to give me a 150% credit line increase if I did a balance transfer. I called this morning to get it and boom, I was denied and they will not give me a life of loan balance transfer rate. I asked them to lower the current 13.99% interest rate. No. My balance didn't jump up drastically, I am not near any of my limits on my credit cards. You would think that Novus would be savy enough as Citibank to realize what business it could bring in by offering such a deal. Especially to a customer who has never paid late and has such history with them.
I prefer just to use their website which is good. The problem is that compared to other prime lenders websites, it is not as complete. Discover only allows you to make a payment, check balances, see recent activity/past statements or do a balance transfer.
I will keep the account open for the history but I am through dealing with Discover. They are just prime lender loan sharks and truthfully, there are other creditors who want my business more than this creditor.
Their website is pretty good except you really cannot do more than check your balance, review current charges and payments, make a balance transfer or make a payment.
Recommended:
No
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Epinions.com ID:
jcharet
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Reviews written: 9
Trusted by: 0 members
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