Discover Card Complaint - Discover Raising Rates 20% to 25% ??
MCLEAN, VIRGINIA -- In a world where the Feds are lowering rates as the economy tanks due to Real Estate, Discover has the audacity to raise rates on consumers!
We will save money on mortgages, but will have to turn around and give it to the greedy credit card companies.
They entice you into a higher limit, and in fact reward you for getting there. Then, lay in wait.
I have been in possession of a Discover Card for about ten years now. Two years ago I called Discover and asked why I was not getting "Cash Back" or "Rewards" like they advertise. Their answer was that I was set at a special rate of 14.99% while everyone else was at 18.99% I "Discovered" this was not the case. Several people were at the same rate as I and did get rewards.
Here is the best of all: On the card they sent to notify everyone they state that if you disagree with this rate hike, just write them and tell them. However, If you do this, they will close your account and demand you pay all of what you owe. Is this not intimidation? A threat to whistle blowers?
Send this out to everyone you know and just maybe they will see that consumers are not going to take it!!