Discover the high interest rate!
Written: Apr 01 '00
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Product Rating:
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Pros: Sears stores are available to accept payments.
Cons: High interest rate
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| jaguar849's Full Review: Discover Card |
With Discover card you can really discover how high the interest rate can be! I want to express my epinion about this nasty little thing called interest rate. I have carried a Discover card in my wallet for over 5 years now. It has helped me with college expenses, after college expenses, and everything else known to woman (or man). I also have a joint Discover Platinum card. I carry high balances on both these cards, in which I am trying to get paid off.
I have always enjoyed my Discover card, because of the convenience of being able to pay it at a Sear's store. This has come in handy more than one time. I recently received a very disturbing letter in the mail about the interest rate.
Discover card is saying that since interest rates have started to increase that they will have to pass some of this cost onto their customers. On my regular fixed rate Discover card (which the interest rate was already high on I might add) they are changing to a variable rate of over 18%. I have had the same interest rate on this card for 5 years and now they want to change it? Not less than 2 days later I received a letter about my Platinum card from Discover, same thing they are making the interest variable, just under 15%. This rate is up from the 12.9% the card presently carries. Needless to say I am not a happy customer.
What is my solution to this? Well I am sure that they are going to see allot of this, but I will close my accounts and try to pay the remaining balances off, or transfer them to lower rate card as quickly as possible. I suggest that everyone who has a Discover card make sure and express your disgust if you feel strongly about it.
Recommended:
No
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Epinions.com ID:
jaguar849
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Member: Brooke
Location: Canton, GA
Reviews written: 40
Trusted by: 11 members
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