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Discover Bank card rate review – they charged me rates that are way too high and illegal here in Los Angeles California!

Discover Bank card rate review
I fell for the low initial rates offer from Discover card and I got screwed over royally!

I got this credit card offer in the mail from Discover card.  It said that I qualified for a 10% interest rate and an initial 0% APR for the first six months.  it also gave me 0% on balance transfers for the first six months.  And the kicker was there was no annual fee either.  This sounded really good to me because I had $11,000 on a current credit card with a 16.99% interest rate from Bank of America.

So I signed up for the card and then I received it in the mail about a week or two later.  I assumed the terms were the same so I started using the card and charged a lot of Christmas presents on it.  Now I received my first statement from Discover Bank card and it turns out it wasn’t 10% that they gave me on my credit account.

They gave me 18.99% instead.  That is a huge difference and is almost double what their initial statement said.  not only that, but I took a cash advance during this time because I thought that was at 10% also.  it turned out cash advances were even more expensive at 28.99% – that’s literally 30% interest on that.

I thought with the new legislation the credit card companies including Discover Bank were supposed to be much more friendly to consumers and not trying to gouge them like this.  I also thought that these high rates were illegal here in California.   The question I have to ask is if I knew that if I currently had a 16.99% interest rate with Bank of America and Discover card was going to charge me 18.99% interest I would never have been interested or filled out the information to send in for their card.

Now I feel screwed over because now I’ve are a switched from one car to the other.  And I got slighted seriously in the process.  When I called the customer service number (1-800-DISCOVER) and told him that I was mad and felt that I had been cheated they told me I needed to read the fine print better next time – wow, that’s great customer service there, huh?

I told this information to my dad about the fact that I got ripped off by Discover credit card company and he told me that any credit is bad.  He said that the reason for this recent bad recession that we are in is that too many people are living on credit.  he told me to do whatever I could pay off any balances I have and to cut up any credit cards.

I think he is right and this is going to be my last credit card.  I’m not going to get screwed over by a credit card company, or Discover card ever again.  I’m going to try and pay 2 to 3 times the required monthly payment to get this credit card paid off.  I don’t want to be a victim of high credit card rates, APR’s and fees ever again.

Be wary of Discover Bank and their interest rate games they play with their credit cards.

2 thoughts on “Discover Bank card rate review – they charged me rates that are way too high and illegal here in Los Angeles California!

  1. Maybe you should try paying off your other credit card before opening another. Also, read the fine print. When offers like 10% come around there are major strings that can only be missed by people who don’t read the little print.

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