The complaint has been investigated and
resolved to the customer's satisfaction
Discover Cardovercharged


I was a Discover Card member since 1987 with an excellent history of submitting payments days if not weeks before the posted due date. Last week I received my statement and to my surprise discover the interest rate on the card had increased to 29.9%, when I contacted Discover Card they informed me that they had increase the rate due to a couple of late payments, one missed the due date by 2 days and one missed the due date by 3 days, because of this they have the right to increase the interest rate.

I inquired if the interest rate could be lowered as the payment delay could have been due to slow processing or delayed mail delivery. I was told that the interest rate could be lowered to 24% but that was all they could do, even despite customer loyalty and 22 years of steady reliable payment. Outraged over Discover Card's extreme lack of customer service I canceled my card and will pay off the balance before week's end.

My advice is to shop around prior to signing up with any credit card company, many have low fixed rates and care about their clientele, credit unions typically offer some the best deals around, always check the amount of interest you are being charged and immediately cancel any credit card company trying to rip you off with unusually high interest rates and by all means beware of Discover Card, may their unethical business practices put them out of business.


  • Ta
    TammyBarrette Oct 01, 2010

    I have also been a loyal member for several years and have never paid my bill late... I always pay at least 1 week prior to the due date online.
    This past January they notified me by mail that they were increasing their rate to 21.99%, or I could opt out which would mean I would have to close my account. I closed my account. Since that time (February 1, 2010) They raised my interest rate to the 21.99% even though I opted out and closed the account. I have been calling every month asking why they still have not changed my interest rate back to the amount I was at before the error occurred and I am told the same thing every month. "We are sorry for the inconvenience although there is nothing we can do as this is being researched and will be cleared up within 1 to 2 billing cycles" 7 months of hearing this [censor] now... If I stop paying the bill, they will just raise my interest to 30% and then it will never be put back to where it was originally. I feel I will never be able to pay this crap off because they continually screw with me.
    I am now contacting a lawyer as I am no longer going to pay for their mistakes...

    0 Votes
  • Cr
    CreditVixen Dec 07, 2009

    Your credit line was most likely decreased because of MAJOR changes in your credit rating. That is how banks and creditors assess your risk. It is part of doing business and having a credit card. Please get prepared, now retail banking is going to follow this pattern and start monitoring customer's credit score and report when you have a checking or savings account, not just at the time of opening.
    The economic world is different, we may not agree as consumers but banks have to determine if you are credit worthy, older generations paid their bills. Our generation would rather charge up credit cards on their $4.00 starbucks coffee, pet grooming and doggie daycare, expensive clothing and HD TV's that they don't really need.
    I work in the credit card business, trust me, if you could walk a mile in my shoes, you would understand!

    0 Votes
  • Am
    amftgb Sep 04, 2009

    Hello? Being late is being late. All credit card companies and credit unions do this raise APR after a couple late payments. Did you not read your terms?

    -1 Votes
  • St
    Steven Mar 24, 2009

    Discover Card lowered my credit limit to just above my balance. Even though I had a perfect payment history, this was not a problem, bad times in all. Then Discover Card charged the regular interest fees to my account for my current balance. This was normal. But because the interest went over my new credit limit I was charged an over limit penalty. Can they really do this? This is not acceptable! Creating charges by adjusting the limit and all without my knowledge of these events. If they lowered my credit limit and the interest went over my limit, I would be happy to pay the amount over limit because I pay this anyway, but to tack on extra fees is just a scam. Big business should be stopped from behaving as if they can do anything to the consumer and the consumer just has to accept it. Banks are already out of control but the credit card companies are more out of control. I missed just one payment to my JPMorganChase Visa by two days and they set my interest rate to 29.99%. I will not ever do business with them again. But some people are stuck with it because of a high balance and have to payoff four to five times the amount of the balance causing them to go into bankruptcy. I was told that this is just how business works. My thought is that this is greed out of control and anything but business. One mite think that the banks have had this planned for awhile.

    0 Votes

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