Discover Card is one of the most abusive, deceptive, and dysfunctional organizations in existence. Discover Card is notorious for skirting, when ever possible, the Fair Credit Act. In fact, some policies are illegal.
Case in point; two years ago, I noticed my interest rate slowly creeping upwards. I submitted a letter asking why the increase. Discover replayed in a form letter, the increase is due to a ‘policy change”. I submitted an additional letter asking what is that policy change, of which, a duplication of the previous form letter was received stating because of a “policy change”.
Therefore, I re-read the Fair Credit Act. Then, I submitted a third letter stating, “Under the law, Discover Card is required to disclose said policy change”, which had no effect because I received the same response as the first two replies. Frostbite began to set in, of which, I called Discover and was connected to someone named Jeff. I put on a full court press on Jeff then reluctantly stated, “Because sometimes you (me)only make the minimum payments”. Effetely, as of this date, the interest rate has skyrocket to 25.99% even though the Minimum Payments they claim I made was doubled.
Spending a great deal of time and effort and getting nowhere. One additional event began to show on my statements, Due to the aforementioned interest rate and doubling of payments, (66.00% of each payment was applied to interest). I was getting very near my limit even though there had been no transactions applied for several months – I canceled my account immediately.
Even though all payments were made long before the due dates the account is now in over limit status, which the over limit amount along with an over limit fee is applied to “Cash Advance” at 25.99% - is this double dipping or what.
In summary, I am now looking for a law firm that will consider my case, along with hundreds of other Discover Card holders in filing a class action lawsuit against Discover Card and its Parent company. Arbitration is not an option, contacting any congressional member or the OCC is useless, and a waste if time – they are all brain dead! As well, Discover Card and its Parent have spent millions in lobbying against you, me, and us.
Roger
Salt Lake City, Utah