Discover Card Complaint - Arbitrary APR Increase
SAN JOSE, CALIFORNIA -- Same deal, loyal Discover Card holder for 10 plus years, excellent credit rating, NEVER a late payment, always pay more than minimum, and I get the notice that my "because of the cost of doing business" my APR is increasing from 9.24% to 13.49%. (I guess I should feel lucky after reading a couple of the other obscene increases I have read about here !) So I call to negotiate, I get the story that if I would like to have my account reviewed for a possible lowering of my rate, they can send me some paperwork, I can fill it out and return it, and my account will be reviewed. So I do this, and a few weeks later I get a response from Discover. They are congratulating me that they have approved my account for a rate of 13.49%, which is the rate I was calling to complain about in the first place !! What a joke ! So I e-mail to customer service, and they respond they can't negotiate rate increases via e-mail. Unbelievable ! Brutal customer service, ridiculous alienating of loyal customers, and innate ability to pass the buck and hide behind the electronic cloak. I'll be paying this off as soon as possible, and I'm sending an e-mail to my local newspaper's Action Line column, a consumer advocate group.