topic Re: What a MESS with Discover! in Credit Cards

What a MESS with Discover!

Anonymous — Fri, 08 Apr 2016 22:05:14 GMT

Geez this is not how I expected my Friday to go dealing with credit cards.

So I decided to apply last night for the Discover It card and was approved for 2K. Wasn't sure what my APR was but wanted to call today and find out. I thought the SL was a little low but it was fine as I knew it would grow over time. Well I spoke with a manager who told me the APR was 23.24 and I was like WHAT??? I told her that I had gotten invitations in the mail at my old address 2-3 times a week and the invitations say my APR would be 13.24-16.24. Last night when I applied, I didn't used the invitation because I was afraid it was gonna be tied to my old address and didn't wanna cause an issue with anything.

The manager tells me that since she couldn't change the APR on my current "approved" card that she could withdraw the application and it wouldn't show up at all on my credit report because it had not went all the way through their system yet. She said I should apply using the invitiation because my APR should fall between the numbers quoted but that I would prolly get another HP from it.

Well I told her that I didn't mind the HP since it would be getting me a better APR that I could work with and thanked her and hung up. Well I do the application using the invitation and low and behold it's NOT approved! 740 EQ and 748 EX with ZERO negatives or collections on my reports. I was like "what is going on right now"

Called back and spoke to another manager that told me that it was probably declined because of the other application still technically in the system but she wasnt sure.

So basically at the end of all of this, she told me that could reinstate the first application and send out the card with the high APR. After the 12 month 0% APR, she said that I could call and see if they can lower it.

I know that the limits grow nicely on the card as long as you treat them right so I wasn't worried about the 2K SL. I just can't believe the APR on this card now. It's like the APR's I used to get when I started out my credit journey.

Sorry for the rant but the thought of a possible 2 HP's each on EQ and EX for a 23.24 APR card makes my head hurt!

Guess I shoulda picked Amex and left Discover for my 2017 goals.

Re: What a MESS with Discover!

galahad15 — Fri, 08 Apr 2016 22:14:35 GMT

Very sorry to hear about Discover treating you like that You have outstanding and excellent scores, in mho it's totally unfair for them to be giving you a 23%+ APR...

Re: What a MESS with Discover!

Anonymous — Fri, 08 Apr 2016 22:22:51 GMT

@galahad15 wrote:
Very sorry to hear about Discover treating you like that You have outstanding and excellent scores, in mho it's totally unfair for them to be giving you a 23%+ APR...

I know people would think that something must have changed in my credit report but that hasn't been anything. The whole reason I decided to app for some cards was because my reports were all clean now and my scores were great. TU and EX have been 750 for the past 4-5 months and EQ was around 680 until a month ago and now it's 735. It was over 740 until some inquries and few balance changes.

I don't have any accounts with big balances and overall utilization is up to 17% from 12%. The 5% increase is only because of 2 purchases since I just moved into my new apartment. I was gonna pay this next round to make sure my total utilization gets back under 10% but even at 17% I don't see how that would affect me like that.

As I stated, I'm fine with the SL but can't understand why my APR is that high.

Re: What a MESS with Discover!

galahad15 — Fri, 08 Apr 2016 22:27:49 GMT

Just a possible thought, but maybe once you get the card in the mail, you could potentially try calling Discover retention, the backdoor numbers, and/or appealing to the Discover EO, for them to lower your rate? I don't have any exact experience myself in dealing with any of the above, but maybe it couldn't hurt to try?

Re: What a MESS with Discover!

CreditMagic7 — Fri, 08 Apr 2016 22:33:54 GMT

You're not lonesome george with this only that mine had more to do with a puke starting low limit but not Discover.

Citi offered me a nice 12.99% APR mail preapproval while i was busy gardening. It was the Simplicity Card with a dazzling 21 month 0% for 21 months right?

I already had the DC card and it's been absorbing SP CLI's of $1500 a pop every 6 months like clockwork.

So i applied for it, was instantly approved and low and behold don't you know that they started it out like i was just beginning with credit years ago or something.

To rub salt in the wound they also DOUBLE pulled for the approval too

I called them the very next day and closed before activation because they already cost my reports 2 HP's and another smack to the AAOA that i was already nursing along.

Re: What a MESS with Discover!

Anonymous — Fri, 08 Apr 2016 23:10:08 GMT

Hey man. I know you made a thread asking between Discover and Amex. I know most of the responders, including me, talked about how great Discover is. Super sorry your experience with them didn't turn out as expected. Best of luck in the future though.

Re: What a MESS with Discover!

Anonymous — Fri, 08 Apr 2016 23:33:48 GMT

Yea I'm not sure if there is anything I will be able to do as I'm not familar with Discover.

Just one of those things where if I knew the APR was that high then I wouldnt have app'd in the first place.

Only thing I can control is use it some and pay it in full and see what happens in a year. If I'm still unhappy then I can close it and move on.

Re: What a MESS with Discover!

Chris679 — Fri, 08 Apr 2016 23:36:40 GMT

Easy to get Discover to lower apr every 6 months or so.

Re: What a MESS with Discover!

Mattopotamus — Fri, 08 Apr 2016 23:44:40 GMT

Do you plan to carry a balance? Would you at 16%. If not, what does it matter?

Re: What a MESS with Discover!

Anonymous — Fri, 08 Apr 2016 23:45:34 GMT

when you said the new app got declined i knew it was because of previous approval. TBH if you wait out the 0% period they will lower your APR after a year. granted i know it sucks knowing you have "starter credit" APR but, the way i see it, you have two options:
1) either fight with them and (likely) get your way and a 16.24% after some time
2) stick to your original approval and get an APR reduction probably to 20% or something because it'll be forgotten about

Re: What a MESS with Discover!

Anonymous — Sat, 09 Apr 2016 00:12:13 GMT

@Mattopotamus wrote:
Do you plan to carry a balance? Would you at 16%. If not, what does it matter?

This is the way I see it. I couldn't tell you the APR of any of my cards honestly...

Re: What a MESS with Discover!

Anonymous — Sat, 09 Apr 2016 00:19:30 GMT

@Mattopotamus wrote:
Do you plan to carry a balance? Would you at 16%. If not, what does it matter?

No I don't plan on keeping a balance on the card per say but it still doesn't take away the shock of seeing such a high APR. I think most people that pay in full still try to get APR's at a great rate. I think the frustration compounded when I re-apped and got the not approved message resulting in more than likely another HP.

Re: What a MESS with Discover!

Anonymous — Sat, 09 Apr 2016 00:27:33 GMT

@Anonymous wrote:
when you said the new app got declined i knew it was because of previous approval. TBH if you wait out the 0% period they will lower your APR after a year. granted i know it sucks knowing you have "starter credit" APR but, the way i see it, you have two options:
1) either fight with them and (likely) get your way and a 16.24% after some time
2) stick to your original approval and get an APR reduction probably to 20% or something because it'll be forgotten about

Yea I'm gonna get some feedback and obviously wait to get the card in as well. I'm not trying to be stubborn about it but I was thinking of applying Amex and then waiting on Discover for 2017. However as soon as I decided to go ahead and join Discover, the APR I get seems to not be as welcoming.

I know how my APR's were when I started on this site in Jan 2015. I know the journey and time I've put in to improve my credit and it shows now and that's satisfying to say the least. I know every lender is different and perhaps my expectation when joining shoulda been lowered.

Re: What a MESS with Discover!

Anonymous — Sat, 09 Apr 2016 00:28:07 GMT

do APRs really matter to those who PIF? no. but does a high APR still piss you off? usually. why not go lower if you can. it's not like people ask to get a higher APR.

Re: What a MESS with Discover!

Anonymous — Sat, 09 Apr 2016 00:30:13 GMT

@Anonymous wrote:
do APRs really matter to those who PIF? no. but does a high APR still piss you off? usually. why not go lower if you can. it's not like people ask to get a higher APR.

Except in general all interactions are noted, and can play in to "Is this a profitable customer?" I would rather save interactions for things that I really need, rather than lowering a figure that has no impact to me.

Re: What a MESS with Discover!

Anonymous — Sat, 09 Apr 2016 00:35:47 GMT

sure. but, just because they're "noted", doesn't mean they're used in deciding factors. otherwise discover would mail me a gift card for how often i compliment them lol

Re: What a MESS with Discover!

Anonymous — Sat, 09 Apr 2016 00:42:18 GMT

Rough start, but it'll all work out in the end.

Re: What a MESS with Discover!

Anonymous — Sat, 09 Apr 2016 00:50:55 GMT

@Anonymous wrote:
Rough start, but it'll all work out in the end.

Yea I've had way too many positives the last few days so I don't need to complain too much. Was just disappointed is all.

However it's Friday so hooray

Re: What a MESS with Discover!

orl2185 — Sat, 09 Apr 2016 01:31:42 GMT

Intro purchase APR is 0% for 12 months from date of account opening ; then the standard purchase APR applies.

I'm just saying.

Re: What a MESS with Discover!

Anonymous — Sat, 09 Apr 2016 00:57:32 GMT

and what exactly are you just saying??