Discover Card Waives Balance

All about Discover & Diners Club - talk about their credit card deals such as the More, Miles, Escape, and others.
3 posts
spartan41
 
Posts: 1
Joined: Thu Dec 23, 2010 10:35 am
Location: new york

Discover Card Waives Balance

Postby spartan41 » Thu Dec 23, 2010 10:42 am

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A Sam's Club Discover Card rep states that your balance will be cancelled if you are hospitalized. The fee is a % of your monthly outstanding balance. No balance, no fee.
If I have a $10,000 balance, jump in front of a car, I'm debt free, if I live? No way. Am I missing something here?


Smerri
Platinum Member
Platinum Member
 
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Joined: Mon Oct 11, 2010 7:29 am
Location: Massachusetts

Postby Smerri » Fri Dec 24, 2010 7:13 am

That is incorrect. The way Discover has always tried to sell that added option to me is that if you are hospitalized and out of work, your balance is placed on hold until you are back to work and are able to pay them off.

That may not be even correct but that is how I have always understood that option.

DoingHomework
Centurion Member
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Posts: 707
Joined: Tue Sep 22, 2009 1:15 pm
Location: Arizona

Postby DoingHomework » Fri Dec 24, 2010 5:41 pm

Yeah, or sometimes they pay the minimum balance while you are hospitalized.

That is generally a VERY bad deal. If you are worried about becoming disabled but disability insurance directly.



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