Credit Card Center Advertiser Disclosure†
08-11-2009 07:49 PM
So far I'm very pleased with them and there quick credit approvals, for me I applied for the debt consolidation loan and when they called me to tell me I was approved they tried to cross-sell me the line of credit by telling me I'm already approved for that product as well. I have a credit score of 688 and they only pull and report to EquiFax. As a quick note for some reason or another my personal line of credit reports under two different account numbers to EFX one is the line of credit account number and the other account is the MasterCard that is linked to my line of credit so this really helped out my UTL ratio.
This could be either really good or really bad,
07-23-2011 10:17 AM
Read the FAQ.
"Q: Can I pay extra each month or make additional payments to pay my loan off early?
A: Yes and we won't charge you or penalize you for doing so.
(Please note you will not receive a rebate of any finance charges if you pay off your loan early).
Talked to Discover about the "Please note you will not receive a rebate of any finance charges if you pay off your loan early". This means that if you get approved for a 20k with a 8k interest, even if you pay more towards the principal, you still owe them 8k. For example, I get a 20k loan with a 8k interest to be paid over the life of the loan (5years). Now, lets say that I won the lottery 1 month after I got the loan and decided to pay it off...Guess what? I will have to pay 28K to Discover. They charge you the whole interest amount up front. I have talked to a Discover manager and this was confirmed. CONSUMERS BEWARE.
07-23-2011 10:19 AM
Interesting! Just want to point out that this is a 2009 thread.
It's still a relevant topic, although I don't know if any of the original posters are still wrestling with this.
06-22-2012 02:00 PM
Filling out an pre approved discover personal loan for 7.99% is a waste of your time. I was warned by a friend before hand though. I called and went through the paper work and they said they'd get back with me. They never called me...but I did get an letter in the mail that said I was denied due to "Sufficiently Obligated" ...I pay my bills and I 'm not behind on my bills....I was trying to consolidate. That is false advertisement to send out Pre Approved Loan Applications in Mail...to deny the application. But after talking to several people...the same thing was done to them too.
06-22-2012 02:27 PM - edited 06-22-2012 04:42 PM
A balance transfer card like slate with 0% interest may be a better idea. What type of balances are we talking about? How much is it?Edit: found out this is a zombie thread. Sorry guys. Mobile site makes it harder.to tell how old threads.are.
06-22-2012 02:27 PM
It's a 2009 thread... let it ... dieee.
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