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Discover Card / usurious increase in apr by discover card

1 P. O. Box 30395Salt Lake City, UT, United States Review updated:
Contact information:

Discover Card APR interest rate increased to 24.99% - but nothing negative on credit report and all Discover payments made timely.

I have had a Discover Card for quite some time. Recently, they raised my interest rate to 24.99%. When I called the company to find out the reason they stated there was nothing wrong with my Discover payment history or credit history records. It was just that now it was their policy to increase the rate for "competitive reasons." When I pointed out that none of the APR rates had been increased by my other credit cards accounts, the customer service representative just repeated that Discover Card had changed policies. It is my strong opinion that the increase in my Discover Card APR is usurious and unreasonable.

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  • Br
      7th of May, 2008
    0 Votes

    I have had this interest rate for some time now. I was told six months ago that if I kept up my payments (which I had been already) for six months, I could I ask for a lower interest rate. After six months I called them and they said "Yes, you can request a lower interest rate, but we're not going to give it to you. Maybe in three more months." I'm so irate with Discover, if I would have known six months ago that they had no intention of ever lowering my interest rate, I would have begun seeking alternative financing for my debt then.

  • Ru
      6th of Aug, 2008
    0 Votes

    I just received a bulk rate piece of mail from Discover Card with a 1-888 number to call concerning my rate increase. I was told specifically that the reason for raising my rate was because "the economy is bad" and "to be competitive" with other credit card agencies.

    It seems to me that to be competitive, one would reduce their rates, not raise their rates to those other card companies are using.

    It usury in its finest. My Discover Card is history. I will find a "competitive" credit card agency that charges less interest.

  • An
      25th of Oct, 2008
    0 Votes

    IF YOUR TIME IS IMPORTANT TO YOU, NEVER USE CAPITAL ONE CREDIT CARD. They are the worst in the industry! For the 4th or 5th time in a few months, they have put a hold on my credit card for no reason. It is so embarrasing! I am waiting in line to pay the cashier at a supermarket and the card gets declined. I know that there is plenty of money on the card, so I called the customer service number. Guess what? I am transferred to India, where I could barely understand the customer rep's thick Indian accent. I had to repeat my card number several times, then she argues that the number I gave is not a legitimate number. I said, "What?!" I am reading the card that you, guys issued me and I have been using this same card for years. Then, she puts me on hold for several minutes. Upon her return, I remind her that I am still holding up the line at the supermarket and people are starting to glare at me like it's my fault that my credit card is having problems. The service rep asks me to repeat the credit card number 2 more times, puts me on hold for 3 more minutes and then says that there is no hold on the card and for the cashier to try to run it again. For the 4th time, the store cashier runs the card and again, the computer screen says that the card is declined. I tell the service rep this, and she still insists that it is not on their end, but on the store's end. The cashier runs the card 2 more times. Same thing. I ask the service rep to be transferred to a supervisor and she says in "an-i-don't-give-a-crap" voice, "I can't transfer you until I exhaust all the troubleshooting possibilities. What are the last 3 digits on the back of your card?" I give her the number and she says, "That is an invalid code". Again, I shriek, '"What?! I am simply reading the back of my card and I have used this code and this card for years? What is going on?" She says (amused), "Hold the line..." Again, I was on hold for several minutes, then she comes back on the line and said, "I don't see any problem on the card. Run the card again... Maybe this time it will work." I ask the cashier (who at this time, is now glaring at ME), to run the card one last time. Guess what? Card is still declined and the phone goes dead!

  • Am
      24th of Mar, 2009
    0 Votes

    Discover card customers rarely have a fixed interest rate. Typically customers have a variable rate that fluctuates depending on the prime rate. The prime rate is determined by the Federal government and changes based on the economy and markets. Keep in mind, Discover cards are rewards cards and rewards cards do generally come with a higher rate because they offer so much back on Cash Back Bonus rewards.

  • Cr
      1st of Jul, 2009
    0 Votes

    On Nov 27, 2008 I wrote check #162 for $500.00 and mailed it along with my statement stub to Discover Card using the envelope they provide. On Jan 3, 2009 I learned that they check was not cashed and I called Discover and made a $1000.00 payment by phone to make the account current. On or about March 6, 2009, I learned that Discover had recently cashed the missing $500 check, which I suspect they had all along. Recently, I obtained my credit reports to find the Discover reported my being late with my payment. I was never late with my payment. They were late in recording the payment and blamed it on me. On July 1, 2009 I called and they refused to take any corrective action - despite the fact that I have been a card member since 1989 and have rarely if ever been late before. They were however completely happy to close my account. So much for loyalty. I recommend everyone stay as far away from Discover as possible.

  • Th
      14th of Jul, 2009
    0 Votes

    I just got off of the phone with the Discover card guy in Utah, where for the 2nd time, I've tried to get someone to get my interest rate "down" to the 13.99% that it was before. I wrote the letter and sent it certified mail to their office so I know that it got there by their arbitrary deadline. When I logged onto my account days later, I saw that my interest rate was jacked up to 18.99%! Whoa! So I called and some woman said she'd fix it. She even refunded me some of the heinous interest charges. But whatever she did, it didn't "stick", so I had to call again today. This guy's name was Jared something so I am hoping against hope that this time it actually stays. I refuse to pay almost 20% interest!!!

  • Fr
      25th of Oct, 2009
    0 Votes

    I to have received a letter in the mail telling me that the Discover Card interests rates are going up to what I describe at loan shark rates. I have had my card for 19 years and always paid the balances in full. Some kind of customer service this is. I have always been happy with my card but this takes the cake. Not my problem that they gave cards to people who didn't pay their bills but I take offense to them using me to bail themselves out. I haven't seen a raise at work in 3 years because our company has put into effect strict rules to conserve money and save jobs. Raising interest rates is not going to help, it's only going to compound problems. I for one will go back to doing everything cash as I did before there was credit cards... buy buy Discover!

  • Mj
      27th of Feb, 2010
    0 Votes
    Discover Card - Back charges
    Discover card
    United States

    Missed a payment, $24 payoff. Which lowered my credit score! Lowered my credit allowance to almost nothing! Took my rewards also! Then was charged for back payments that I supposedly didn't pay since they stop all activity on my account! Well there not willing to talk so I will!!!

  • Mo
      2nd of Apr, 2010
    0 Votes
    Discover Card - high interest rates
    United States

    how is anyone suppose to pay off their balances when this credit card keeps raising their rates. Mine is 30% on a balance that I have been paying on for 5 years

  • Ti
      3rd of Jun, 2010
    0 Votes

    Discover card is TERRIBLE!! They raised my interest rate over a year ago for absolutely no reason. When I called, they explained that there was a process to opt out of the interest rate increase by cancelling the card, or accept the higher rate. The rate hike was not justified, even the rep admitted that my account was in good standing, no late fees, never paid late, and always paid more than the minimum due. Wow! I paid a big chunck of the balance, then just paid the balance off a year later. Well, come to find out when I got my statement...I was charged nearly $30 in finance charges AFTER I paid my balance off. I called customer service to find out why they did this. They told me that I should have called in to speak with a rep before I made my pay off. They said it was the "unapplied" finance charges. I asked why they wouldn't include that when I called in to get my balance. No reason. The are BAD - terrible business practices. I will pay them off - then they can kiss off! So much for being a "10 year valued customer." I hope they eventually go under. I feel sorry for the people who work there.

  • Na
      21st of Feb, 2011
    0 Votes
    Discover Card - Harassing telephone calls
    New York
    United States

    I have received numerous telephone calls from this company looking for someone...even after I had told them I am not that person and that they are calling the wrong number...

  • Jj
      19th of Apr, 2011
    0 Votes


  • In
      1st of May, 2015
    +1 Votes

    Avoid Discover Credit Cards at all costs! I was swept into the discover depths of hell whirlpool by taking advantage of 0% APR for 12 months deal. Come 12 months, they put my APR at a whopping 23.99%! My credit score is in the high 600's (average), so I called to find out what the issue was. I always made my payments on time and paid more than the minimum balance on every payment. I had to get transferred to a supervisor to see if any positive outcome could come out of this. Wishful thinking. She stated that the company has decided to never adjust APR's for past purchases but they could lower my APR for any future purchases (hook, line and sinker to be a discovercard slave for years to come). I told her that I wouldn't be making any new purchases, I just want to pay off my card and have the APR lowered. She wouldn't budge. To make a long story short I closed my credit card and will be bombarding the remaining balance with payments until I am no longer a discover slave (5K balance left, I hope to pay off the card in full in hopefully 3-4 months.) Moral of the story is avoid Discover Cards at all costs, the only way to be ahead of the credit card companies is to pay your balance in full each month and take full advantage of their rewards. If everyone did that however, there wouldn't be any credit card rewards and possibly no credit card companies in existence. Their profits are driven by the poor slaves (such as myself temporarily) who are trying to keep their head above water and pay off debt and provide for themselves and their families. CONCLUSION: Discovercard along with other credit card companies are parasites that thrive on the misfortune / hard times of hard working people and charge usurious rates to quench their appetite for greed. AVOID AT ALL COSTS!

  • Da
      26th of May, 2015
    0 Votes

    I asked Discover to close my account. I had a minus balance because I overpaid. They sent me my rewards balance of .85 cents. I have a minus balance of $137.94. They did not include that. I am asking for that money back. Thanks you

  • Re
      26th of May, 2015
    0 Votes

    You aren't going to get your refund from us. This is a general complaint site and not the web site for Discover Card.

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