Discover Card Complaint - Arbitrary increase of rate for good customers!!
The following is a letter sent to David Nelms, Discover Financial's CEO, by email and fax -
"I have been a Discover Card member for over 6 years now and until today I have been pretty happy with your company. Unfortunately, I just learned that my interest rate had been arbitrarily increased from 11% to almost 16% for no good reason! The “reasons” given me when I pressed your customer service agent were that some of the following may have applied and thus the company felt justified in penalizing me by increasing my rate: (1) long standing card holder (for greater than one year) – isn’t this a good thing? To be celebrated???; (2) interest rate currently less than 20%; and (3) less than monthly usage. The first two are correct, and the last is absolutely not. I use the card often, have maintained a healthy balance for you to make money off of for a long time, and always make my payments and in excess of the minimum due. How does this qualify me for a penalty???? You have just lost my business. And my husbands. I will also be posting this disgrace on consumer websites so others are not subject to this behavior. How dare you?
Note that I have just made arrangements to close my account and will be paying off the balance in full immediately. You are a grave, grave, grave disappointment as a company."
Please pass along this infuriating and unfair behavior to other unknowing card holders.... I makes a person feel like doing the right thing isn't even good enough any more!!!