Discover it Retention offer

[Hockeypnc1]

Very displeased with discover. Told them that I was mad that my APR was so high (20.49 I think) and that every time I ask for an increase it is denied

Was transferred to retention department. Again told them my concerns. They offered 12 months on NEW purchases at 0 percent starting tomorrow. That doesn’t help me with the approx 700 I owe on the card at 20 percent

They also tried to address my credit limit increase complaint by simply putting in another request, it was quickly denied of course.

I can’t say I am too happy with the results of my phone call, the 0 percent would be nice for someone who uses the card frequently, but right now I am just focusing on paying it down and not swiping it.

With a low limit of 2200, I thought an increase was possible but they don’t like my dings in my credit report, including a December 2016 BK7, carrying balances and somewhat new credit cards.
I have been with discover since September of 2017.

[Anonymous]

You yourself spelled out the reasons why your profile isn’t getting you what you want and it’s generally not the time to ask for an APR reduction when you have a balance on a card, you pay it off first and then ask. 

I don’t really see Discover doing anything wrong here but I am sorry that you didn’t get what you asked for. It’s very generous of Discover to offer the 0% on new purchases for 12 months, not many cards will do that. 

If it helps, my ongoing APR is 23.24% on mine. I don’t know that they will decrease it but I also don’t carry balances. 

[FinStar]

Echoing Saeren's comments OP, you gotta look at it from Discover's perspective.

I'd go with the positives such as the fact that they approved the CC with the presence of BK (don't recall if you've mentioned if Discover was IIB), plus you were offered the 0% purchase promo. Moreover, folks around these parts know that Discover is also flexible with lowering the standard APR once you've reached a certain timeframe and eligibility.

Personally, given your overall profile, I'd be happy that they approved the CC, and as the profile improved over time then it would open some doors to better growth (CLI or 2nd product if desired) and a flexible rewards/BT product.

[JR_TX]

OP, in all reality, Disco has been really generous to you with that recent of a BK7.
We have the same APR at 20.49 with my profile clean now except for that 8+ yrs old BK7 on record. Plus if we really learned something from our financial mistakes leading to the BK is that to NEVER, EVER carry a balance subject to interest!! That’s how we got in trouble in the first place wouldn’t you agree?
Hence making the APR irrelevant.
Sorry for being professorial just wanted to convey the generosity Disco has been showing you.

[Anonymous]

Yeah I'm not credit guru but the fact you got approved for Discover with a 2016 BK7 seems lucky as hell (they declined my Wife at like 750 FICO for simply applying to 2 cards before them in the past couple of months - to add insult to injury she's still on the direct mail list for 2 of their cards) 

[Shooting-For-800]

Seems like 0% for 12 months is pretty sweet from the outside looking in but I guess you are not happy.

You had a BK 2 years ago and have had their card less than that long.  

I would not consider a BK 2 years ago a ding.  Just saying.

I think they are being more generous than most.

[Blackswizz750]

Just roll with the 0% and be patient. Most folks have to obtain secured cards and let's not mention, Credit Ones for while. I wouldn't close it as it will eventually get better.

[FireMedic1]

I wouldnt worry about $2200. Many coming out of BK would love to have a CL like that. We all know Miss Disco is a jealous one. They want to be your go to card. Like many others do like AMEX lately slashing CL's now possibly due to the same thing. Give it time. It will grow when the time comes. I started in 2016 with $1200 on my 1st card. Close to 3 yrs later I'm at $12500.00 on 2 cards. But I never carried a balance.

Trick is. You want to buy something say a UHD TV. Save the $. Use the card and pay it off with the savings. I did it with the wholesale club quarter. Didnt cost one red cent in interest. It was on sale. Plus the 5% or 10% after cash match. Saved $180 which includes sale price. Its a game. Gotta play it so it ends up in your favor. When an emergency comes like car repair or something else. Then pay interest if you dont have the savings.

BK'ers like us will start with high APR's. No getting around that. But my 2nd card is 13.4%. Had to earn it with time and proper card management. Its none of our business what you charged for $700. But as a fellow BK'er. Carrying balances isn't the way to go while rebuilding. Use the card or cards as much as you can knowing you can PIF or AZEO when the time comes to pay the bill. It's how I got there.

Good Luck!

[pizza1]

Why are you "mad"?! You are a rebuilder, and have the worst credit report a person can have....you have a BK on your reports.
Get over it..you wont see low apr's for a number of years, and further away from your DC, or until you have clean report.

Discover is very generous in the fact that they are BK friendly, and a major lender....Rome wasn't built in a day

Im 6 yrs out, and still have high apr's...it is what it is..

[dynamicvb]

Personally, Discover has been very good to me. I'm thinking the main thing holding up the CLI's is one maybe the presence of such a young BK and two( this is more likely it) that you are carrying 30 percent utilization. Not many card issuers want to give out CLI's when you are carrying any sort of a balance over what could easily be paid off based on your payment history. 

No idea what your income is like, but throwing a good bit more than the minimum payment at the balance would likely get different results in a few months and once it gets down to about 5% or so.