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Discover card is jacking my rate up!!

Frequent Contributor

Discover card is jacking my rate up!!

My fixed rate of 12.99% is going up to a variable rate of prime (as of Feb 09) + 13.99% = ~17.99%??  

 

I don't have a large balance on this card and I normally pay it off in full.  I'm never late on this card either.

TU - 737 - 02/21/09, 769 - 02/06/10, 795 - 09/08/10
EQ - 758 - 02/21/09, 783 - 02/06/10, 805 - 09/08/10
EX (PLUS) - 781 03/23/09, 787 - 02/06/10, 783 - 08/09/10
4 REPLIES
Senior Contributor

Re: Discover card is jacking my rate up!!

Sorry to hear it!

 

With Discover, after your account has been opened a year, they allow you to request a lower APR. Have you tried this? 

Here we go again...
Frequent Contributor

Re: Discover card is jacking my rate up!!

I've had the card more than a year and they did lower the rate to 12.99% fixed.
TU - 737 - 02/21/09, 769 - 02/06/10, 795 - 09/08/10
EQ - 758 - 02/21/09, 783 - 02/06/10, 805 - 09/08/10
EX (PLUS) - 781 03/23/09, 787 - 02/06/10, 783 - 08/09/10
Frequent Contributor

Re: Discover card is jacking my rate up!!

I called Discover and they actually lowered my rate to 12.24% variable and they said my rate won't get jacked up in June.  It will only move with the prime rate.  Discover is no longer offering fixed rates at this time.

 

 

TU - 737 - 02/21/09, 769 - 02/06/10, 795 - 09/08/10
EQ - 758 - 02/21/09, 783 - 02/06/10, 805 - 09/08/10
EX (PLUS) - 781 03/23/09, 787 - 02/06/10, 783 - 08/09/10
Highlighted
Regular Contributor

Re: Discover card is jacking my rate up!!

sorry to hear about the rate jacking

 

more and more ccc's are doing this to perfect customers who pay on time and have never been late...

 

glad to hear you got it lowered!