Discover to end Price Protection 10/31/18

pizza1 · ‎08-20-2018

Saw this on my current statements this month for both of my it and chrome cards.

Anonymous · ‎08-20-2018

Thanks for sharing @pizza1!

I didn’t look at my last statement.

Shadowfactor · ‎08-20-2018

Discover is just nerfing themselves to a uncompetitive edge.

While I admit I haven’t actually used price protection but I did have some purchases coming up that I would have used my discover card for that reason. Mostly electronics that I thought would have gone on sale for Black Friday.

Discover doesn’t have anything special anymore. It’s not a bad card for no AF but it’s certsinly lost a lot of its appeal recently. After the first year it’s just a very plain card that doesn’t offer much at all.

Total Revolving Limits $254,800

FinStar · ‎08-20-2018

I don't think it's lost that much appeal IMO if you take a look at attrition rates on the acquisition side of things.

On these forums, there's a mixed bag of cats as far as some things being scaled back, but what's evident is that it represents a relatively small fraction of the entire spectrum. Folks are not applying for a Discover card for those extra benefits (nice if included). Yet, they're still competitive in other areas which is why there's still around and ranked at the top by JD Power, for instance.

iced · ‎08-20-2018

I feel like it wasn't so long ago Chase also rolled back price protection on a card or two. It makes me wonder if there were enough people who really exploited this benefit to the point that banks are slowly abandoning it. It's one of those benefits that costs them nothing unless someone uses it, after all.

Anonymous · ‎08-20-2018

Discover has cut other benefits as well over the years. I had Discover in the past and got notices of benefits being removed. Cutting back benefits lowers expenses and increases profits. Discover feels like their rewards program is enough, unfortunately it isn’t.

Many other issuers are not cutting back on benefits and in fact help you sign up for services which help you find lower prices so you can get price protection. Since competition exists, Discover is just making the brand worse and gives less reason to choose them as an issuer.

Feel free to choose the product you want. Also remember, lots of issuers are adding benefits while a few are cutting benefits.

mongstradamus · ‎08-20-2018

@pizza1 wrote:
Saw this on my current statements this month for both of my it and chrome cards.

Ms Pizza always bringing us the bad news :-(

EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16

yfan · ‎08-20-2018

Gotta admit this bums me out a little bit. It was a pretty cool benefit.

pizza1 · ‎08-20-2018

@mongstradamus wrote:
@pizza1 wrote:
Saw this on my current statements this month for both of my it and chrome cards.

Ms Pizza always bringing us the bad news :-(

LOL @mongstradamus!! Oh Mongs...I only bring the bad news about half the time, hahah