Reply
Established Member
cec2417
Posts: 14
Registered: ‎08-21-2007
0

Discover Interest rate reduction!

Hi Everyone!

 

I can not ever remember the last time I posted anything but wanted to share this with everyone. 

 

My husband and I bought a fixer upper property a few years ago and went into A LOT of debt trying to fix it up.  We have recently started trying diligently to get all the debt paid off.   I had heard that credit card companies offered hardship programs so I called Discover this morning.  They reduced the interest rate from 28.99 to 12.99 on our current balance for a year!  I asked about reporting or TL comments.  CSR stated that even though the account is suspended for a year  it is an internal suspension only and that it still reports the same to the CRA's.  She also stated that after a years time they will review the account and may let us keep the 12.99!  This is just the boost I needed to keep motivated paying everything off and getting our credit cleaned up!  Thanks for letting me share!   Hope this helps someone else too! 

Established Member
ShallRecoverIt
Posts: 16
Registered: ‎04-14-2012
0

Re: Discover Interest rate reduction!

[ Edited ]

This a great to see, thanks for sharing! I know many people find higher interest rates to be a pain-point for many of their favorite cards, so it's nice to know that good interest rate decreases are still happening.

Wallet:
Chase Freedom
Discover More

SD:
Walmart Discover
Cap1 Platinum
Valued Contributor
boomhower
Posts: 1,863
Registered: ‎09-20-2011
0

Re: Discover Interest rate reduction!

Nice!  That's a big drop.


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+