Discover Card Complaint - Discover jacked up my rate as soon as I started using it after years of inactivity
A couple of years ago, I decided I needed to use my Discover card, which I had not used in several years.
Within a few months (and 0 late payments), I received a notice that my rate was going up to 28.99%!!!!
I recently tried to get them to lower my rate, and please explain what caused the hike in the first place - here is a copy and paste from their response:
Thank you for taking the time to contact us about your interest rate. I understand your concern about the Annual Percentage Rate (APR) on your Discover Card account.
While we do not have a lower rate available at this time, we hope that as a valued Cardmember you will continue to take advantage of everything Discover Card has to offer, including:
- No annual fee.
- The chance to increase your Cashback Bonus up to double its original amount with our Cashback Bonus Partners.
- A full 5% Cashback Bonus on specific purchases throughout the year when you sign up for our 5% programs.
- 24-hour customer service at 1-800-DISCOVER (1-800-347-2683).
- Online access at http://discover.com.
- Cashback Bonus from 5% to 20% through our ShopDiscover page in the Account Center.
If you are interested in reducing your finance charges, you may also want to consider the Discover Motiva Card. Every time you make six consecutive payments on time, you will receive a Pay-On-Time Bonus equal to the finance charges on your next statement. This reward is in addition to the standard Cashback Bonus of up to 1% that your purchases already earn.
If you would like to convert your account to a Discover Motiva Card, or if you need further assistance, please call us at 1-800-DISCOVER (1-800-347-2683).
I appreciate you taking the time to contact me today and hope this information was helpful. Thank you for choosing to use Discover Card.