topic Re: Why did idiots at Discover issue refund? in Credit Cards

Why did Discover issue refund?

SouthJamaica — Thu, 18 Jul 2019 16:38:57 GMT

I was using my Discover card for some balance transfers, on which I would be charged interest.

In order to ensure that I had a zero balance, I overpaid enough to cover the interest.

So what does Discover do? At the statement closing date, it (a) issues me a refund check for the credit balance, and (b) charges the interest, so that I wind up with a balance even though I was looking for a zero balance to be reported.

Re: Why did idiots at Discover issue refund?

BallBounces — Wed, 17 Jul 2019 22:02:09 GMT

That would irritate me.

Re: Why did idiots at Discover issue refund?

CreditCuriosity — Wed, 17 Jul 2019 22:25:45 GMT

Would slightly irk me, but pay the residial interest and ask them to report off cycle as they will

Re: Why did idiots at Discover issue refund?

SouthJamaica — Wed, 17 Jul 2019 22:37:52 GMT

@CreditCuriosity wrote:
Would slightly irk me, but pay the residial interest and ask them to report off cycle as they will

Great idea. Thank you for that I had already paid the interest... all of $18. So I called and they said I should call back when the payment's posted, and the balance is back to zero, and they will report it (as you said they would).

Thanks!!!!!!!!!!!!!!!!!!!!!

Re: Why did idiots at Discover issue refund?

Anonymous — Wed, 17 Jul 2019 22:52:41 GMT

LMAO

You should know better than try to out smart an Idiot. Preemption doesn't work always. The nuances of lenders is bewildering while one keeps the cash for a cycle or two before issuing a refund check and others are too honest to keep it for an extra minute while the statement posts.

If you were paying interest on this cycle anyway why not wipeout the majority of the balance, wait for the statement, and cut a payment for the balance? They tend to waive interest that's trailing if you have a compeling arguement.

*shrug*

Maybe I'm thinking of a different lender. Might have been Citi/BestBuy that waived something like $600 in promo interest when the person held the debt too long and the promo expired mid cycle or something.

Re: Why did idiots at Discover issue refund?

AverageJoesCredit — Wed, 17 Jul 2019 23:17:29 GMT

Yes SJ, this is what they do. When i paid back a bt , i accidently overpaid . They sent me a check. Im not sure if i had kept it there whether or not i could have just used that amount in purchases to equal out or not but i do temember getting a check.....that i accidently shredded the first time with all my cli denial letters lol.

Sorry SJ

Re: Why did idiots at Discover issue refund?

AverageJoesCredit — Wed, 17 Jul 2019 23:18:35 GMT

Only Disco can go from Idiot to Hero

Re: Why did idiots at Discover issue refund?

SouthJamaica — Thu, 18 Jul 2019 00:27:03 GMT

@AverageJoesCredit wrote:
Yes SJ, this is what they do. When i paid back a bt , i accidently overpaid . They sent me a check. Im not sure if i had kept it there whether or not i could have just used that amount in purchases to equal out or not but i do temember getting a check.....that i accidently shredded the first time with all my cli denial letters lol.

Sorry SJ

Yes but in this case on the same day they issued the refund and charged me the interest.

Why couldn't they deduct the interest from the credit balance before the refund if they were so bound and determined to issue a refund?

Re: Why did idiots at Discover issue refund?

AverageJoesCredit — Thu, 18 Jul 2019 00:48:03 GMT

@SouthJamaica wrote:
@AverageJoesCredit wrote:
Yes SJ, this is what they do. When i paid back a bt , i accidently overpaid . They sent me a check. Im not sure if i had kept it there whether or not i could have just used that amount in purchases to equal out or not but i do temember getting a check.....that i accidently shredded the first time with all my cli denial letters lol.

Sorry SJ
Yes but in this case on the same day they issued the refund and charged me the interest.

Why couldn't they deduct the interest from the credit balance before the refund if they were so bound and determined to issue a refund?

Because they're idiots?😄

Re: Why did idiots at Discover issue refund?

HeavenOhio — Thu, 18 Jul 2019 00:57:16 GMT

It's known that Discover (and Chase) will report upon request, so that part isn't a big deal. I'd be more annoyed about the possibility of taking an extra month to reset the grace period. I wonder if it would have helped had you involved customer service when you wanted to pay to zero.

Re: Why did idiots at Discover issue refund?

gdale6 — Thu, 18 Jul 2019 01:02:17 GMT

I had a run in with them this month as well. Sent a push payment to cover the balance at that time, also initiated a pull payment to cover other charges I knew I would make prior to statement cut, they confirmed the pull, it never happened and a balance reported this morning. Never even notified me. I slammed the phone down on them yesterday. At the end of the 1 yr zero percent APR on purchases I got with them earlier this month I am going to burn the card. Dont need the headache from them anymore.

Re: Why did idiots at Discover issue refund?

FinStar — Thu, 18 Jul 2019 01:25:40 GMT

@gdale6 wrote:
I had a run in with them this month as well. Sent a push payment to cover the balance at that time, also initiated a pull payment to cover other charges I knew I would make prior to statement cut, they confirmed the pull, it never happened and a balance reported this morning. Never even notified me. I slammed the phone down on them yesterday. At the end of the 1 yr zero percent APR on purchases I got with them earlier this month I am going to burn the card. Dont need the headache from them anymore.

Re: Why did idiots at Discover issue refund?

SouthJamaica — Thu, 18 Jul 2019 01:42:36 GMT

@HeavenOhio wrote:
It's known that Discover (and Chase) will report upon request, so that part isn't a big deal. I'd be more annoyed about the possibility of taking an extra month to reset the grace period. I wonder if it would have helped had you involved customer service when you wanted to pay to zero.

This didn't involve a grace period. It was a balance transfer.

Re: Why did idiots at Discover issue refund?

NRB525 — Thu, 18 Jul 2019 10:50:40 GMT

There seems to be irritation at Discover reporting a balance? After the conclusion of several cardholders trying to make a complicated set of payments as their statement dates approach?

I’ve paid off / moved off many BT balances over the years for many banks. It’s never something you can expect to stick the landing on. Trailing interest after paying a BT, if the bank is going to charge it, is something you cannot avoid. It will report that balance.

And FWIW Discover is one of the better, more accommodating card issuers when it comes to basic features like rotating rewards, 0% APR periods, low APR BT offers, free FICO score monthly, and statement clarity, to cite just a few.

So I will counterbalance the discussion to say Discover is an excellent card to keep, and the Discover organization is not any sort of idiots.

Re: Why did idiots at Discover issue refund?

kdm31091 — Thu, 18 Jul 2019 12:45:03 GMT

I don’t think Discover is run by idiots at all. Anytime you’re dealing with situations of overpaying, BTs, trailing interest etc it’s going to get complex and it’s not worth writing off the company over it

Re: Why did idiots at Discover issue refund?

Anonymous — Thu, 18 Jul 2019 13:49:58 GMT

@NRB525 wrote:
There seems to be irritation at Discover reporting a balance? After the conclusion of several cardholders trying to make a complicated set of payments as their statement dates approach?

I’ve paid off / moved off many BT balances over the years for many banks. It’s never something you can expect to stick the landing on. Trailing interest after paying a BT, if the bank is going to charge it, is something you cannot avoid. It will report that balance.

And FWIW Discover is one of the better, more accommodating card issuers when it comes to basic features like rotating rewards, 0% APR periods, low APR BT offers, free FICO score monthly, and statement clarity, to cite just a few.

So I will counterbalance the discussion to say Discover is an excellent card to keep, and the Discover organization is not any sort of idiots.

Agree w/this 100%.

Re: Why did idiots at Discover issue refund?

HeavenOhio — Thu, 18 Jul 2019 14:38:32 GMT

@SouthJamaica wrote:
@HeavenOhio wrote:
It's known that Discover (and Chase) will report upon request, so that part isn't a big deal. I'd be more annoyed about the possibility of taking an extra month to reset the grace period. I wonder if it would have helped had you involved customer service when you wanted to pay to zero.
This didn't involve a grace period. It was a balance transfer.

I figured that the grace period came into play because most balance transfers cause interest to be charged immediately if new purchases are made. But either way, whenever there's interest, it needs to stop. If you can stop it a month earlier by calling in, I think the effort would be worth it.

Re: Why did idiots at Discover issue refund?

Anonymous — Thu, 18 Jul 2019 15:59:59 GMT

Agree with NRB525 , I think the user often just makes it more difficult than it needs to be. I've never had a problem with Discover in all the BT I've had with them, nor the payment process. I've even made a couple complicated payments like applying my CB amount along with cash, and haven't ever had an issue. The worst issuer for paying over to cover pending interterest charges was Cap1, at least in my experience.

Re: Why did idiots at Discover issue refund?

Anonymous — Thu, 18 Jul 2019 16:20:26 GMT

When I first got my Discover card it was my first credit card and one day I received a phone call from them asking why I didn't make a payment. I had made other payments but missed this one and I told them I forgot to and said I'll go pay it right now and I never had a late payment marked on my record.

A couple times I had problems with Discover Offers not picking up some of my transactions and Discover corrected it for me & credited me the cashback.

Being the customer service is in the US is a relief and I've found that they're very willing to work with me.

Re: Why did idiots at Discover issue refund?

SouthJamaica — Thu, 18 Jul 2019 16:38:26 GMT

Although I'm not personally a fan of Discover, I didn't intend to conduct a broad attack on the company. I was referring to a single idiotic transaction.

Accordingly, I've toned down the heading of my original post.