And if they were going to cancel the account - they would have already done it. They can always close an account, even when you own money. It doesn't mean that you no longer owe the money - it just means that they no longer want to do further business with you. They have not closed it - so I am glad that you have paid it off. (They may lower your CLI, though....)
Yes. I completed a hardship program with Discover last year. The terms:
- 12 month program
- I was required to use the DirectPay automatic payment option, at least for the first few payments. I can't remember.
- Reduced payment (about half of what my minimum due was before s__t hit the fan)
- Reduced interate rate of 10% (9.99% APR to be exact). It was 23.49% before. Yes, I know that is terrible.
- Charging privileges were suspended until graduation
My charging privileges were not IMMEDIATELY reinstated after my final hardship payment or even after the 12th hardship payment statement closed. I called and shortly after, I received an email stating that I could use the card again. It took at least a few days but no more than a month.
I'm still on the struggle bus, so my card (Discover It) has almost always been nearly maxed out since I graduated from the hardship program post job layoff. I'm often over the limit due to high interest charges when my statement closes. I'm expecting to fix this when I land a new job this year.
As an aside, I've noticed that Discover is unlike any other lender that I've had in that they have sent me a couple notices about being overlimit upon statement closing. I don't know if it's because that's customary practice for all cardholders or if it's because I'm just coming out of hardship. My payments have always been on time but I've only been able to pay the minimum due or a little extra ($25-75) more than the minimum due. ;-/
I know that the analysts are closely watching my account. LOL.