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Discover Interest rate reduction!

Established Member

Discover Interest rate reduction!

Hi Everyone!


I can not ever remember the last time I posted anything but wanted to share this with everyone. 


My husband and I bought a fixer upper property a few years ago and went into A LOT of debt trying to fix it up.  We have recently started trying diligently to get all the debt paid off.   I had heard that credit card companies offered hardship programs so I called Discover this morning.  They reduced the interest rate from 28.99 to 12.99 on our current balance for a year!  I asked about reporting or TL comments.  CSR stated that even though the account is suspended for a year  it is an internal suspension only and that it still reports the same to the CRA's.  She also stated that after a years time they will review the account and may let us keep the 12.99!  This is just the boost I needed to keep motivated paying everything off and getting our credit cleaned up!  Thanks for letting me share!   Hope this helps someone else too! 

Message 1 of 3
Established Member

Re: Discover Interest rate reduction!

This a great to see, thanks for sharing! I know many people find higher interest rates to be a pain-point for many of their favorite cards, so it's nice to know that good interest rate decreases are still happening.

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Message 2 of 3
Valued Contributor

Re: Discover Interest rate reduction!

Nice!  That's a big drop.

Message 3 of 3