Discovercard Complaint - Interest rate and payment amount increased
Have been a paying customer of Discovercard for well over 15 years. For the past 4 years, my account has always been paid in full within the 30 day billing period. I have never been late. Last summer, they raised my interest rate to 15.99%. When I questioned why, they had no answer. I even spoke to a supervisor, who advised there was nothing she could do. So, I made absolutely certain that I never charged more than I could pay within the 30 days (actually 25). Now, my last statement, which had a new balance of less than $120.00, indicated that the minimum monthly payment was now $40.00.
I guess Discover has decided they don't want any customers. Nobody in their right mind would run a balance knowing that they would have a minimum payment of at least 30% of their outstanding balance.
I just paid off the entire balance and have put the card on ice. I'm tired of them playing fast and loose with good customers.