topic Re: Discover Card Minimum Payment Change in Credit Cards

Discover Card Minimum Payment Change

tianapb725 — Mon, 22 Feb 2010 12:40:04 GMT

I have a Discover Open Road card, which paid off and will only be using it for utilities as the interest rate was raised to 19.99% and I will be paying it off monthly. I previously had a balance of $900 and the minimum payment of $40. I paid it off last month and this month the balance is $100 with a minimum payment of $40.

Kind of strange. Like I said, I am paying it off in full anyway, but I couldn't find anywhere in my terms that they were raising the percentage for minimum payments. I just want to understand how my card works if by chance I ever had to carry a balance.

Thanks for the help!

Tiana

Re: Discover Card Minimum Payment Change

Anonymous — Mon, 22 Feb 2010 14:24:34 GMT

I received a change in terms notice a while ago for my Discover More, and I remember the $40 minimum payment as being a part of that change. It's not just your account, tianapb725, I believe the minimums were raised for everybody.

Re: Discover Card Minimum Payment Change

tianapb725 — Mon, 22 Feb 2010 14:35:22 GMT

Okay thanks - I had looked through the paper work I had received from them and must have over looked it. Not a big deal, but I'm sure glad I paid off the balance last month b/c I can't imagine what the minimum would have been then!

Re: Discover Card Minimum Payment Change

Anonymous — Mon, 22 Feb 2010 14:46:38 GMT

The percentage wasn't increased, just the minimum amount. The minimum payment for a $900 balance would also have been $40.

Discover sent out notices about the new minimum in September ...

Re: Discover Card Minimum Payment Change

Anonymous — Mon, 22 Feb 2010 14:51:10 GMT

yea when my Dti shot up to 36% on my kredi karma report I was what the heck? then I remembered the discover new , my balance was only 67