Discover upped my introductory rate from 10.99% to 16.99%!

All about Discover & Diners Club - talk about their credit card deals such as the More, Miles, Escape, and others.
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Tenacious-T
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Discover upped my introductory rate from 10.99% to 16.99%!

Postby Tenacious-T » Wed Dec 01, 2010 10:08 pm

Discover called me to confirm my application on the Escape but said that because of something on my report dealing with something sounding like not sufficient revolving credit they offered me the card only at an increased rate of 16.99%.

I asked for a better explanation of this but got nowhere with this lady. She did say that a letter explaining my credit report would be sent to my house.

Has anyone ever heard of this before?


JL70
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Postby JL70 » Thu Dec 02, 2010 11:55 am

Tenacious-T wrote:Discover called me to confirm my application on the Escape but said that because of something on my report dealing with something sounding like not sufficient revolving credit they offered me the card only at an increased rate of 16.99%.

I asked for a better explanation of this but got nowhere with this lady. She did say that a letter explaining my credit report would be sent to my house.

Has anyone ever heard of this before?


Probably an old collection or missed payment on your file. Have you checked your reports lately? Keep an eye on that letter.

Tenacious-T
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That would make sense...

Postby Tenacious-T » Thu Dec 02, 2010 7:36 pm

... but then why couldn't she just say that?? I went around and around with this lady trying to figure out what's the issue. Either she couldn't communicate it to me or she simply doesn't have a clue and is just collecting a paycheck. Love the service industry! :mad: I'll update this thread whenever I get the letter and figure out WTH is going on.

Tenacious-T
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Postby Tenacious-T » Wed Dec 08, 2010 10:10 pm

I got the letter. It says: Good new! While reviewing you initial Discover card application we identified an alternative no-annual-fee offer. Please call us toll free... ...

So I got no explanation afterall. I guess I should probably have my credit reports sent to me and see what's going on in there, if anything. Any recommendations on what's the best way to do this?

JL70
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Postby JL70 » Thu Dec 09, 2010 9:25 am

Is only that? it usually states two or three reasons on why they couldn't extend you credit in the first place....gotta love them.

http://www.annualcreditreport.com gives you the three reports for free once a year (not the score) but you can buy your Equifax and Transunion Fico scores and reports from myFico.com.



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