Not seeking out their manias but Discover's practices are lunacy

All about Discover & Diners Club - talk about their credit card deals such as the More, Miles, Escape, and others.
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Iroquois
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Not seeking out their manias but Discover's practices are lunacy

Postby Iroquois » Wed Jul 11, 2012 7:44 pm

Periodically I'll call my credit card issuers and ask for a lower interest rate. Citi has been tremendously responsive in this regard and my Citi/AA card has been brought down to 5.9% with some simple straight forward calls from double digit rates.

Now for Discover: the account is still in double digits, a very pleasant CSR explains that she can't do anything but she can mail me (can't email) a hard copy form to request a lower APR. Sounds cumbersome. We'll see what it says.

No delinqs , no late fees, no overlimits, stable credit scores at good levels, good history; nothing adverse at all for many moons. The CSR even said that.

Now what can I possible have to do with a hard copy form that can't be done on the phone or by e-mail ?

This should be interesting.

Discover is just not competitive and continues to demonstrate why it belongs in the back of the wallet.


MemberSince99
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Postby MemberSince99 » Wed Jul 11, 2012 8:59 pm

Maybe they prefer you pay in full rather than carry a balance, and if you choose to carry a balance, they feel you should pay for the ability to do so.

Not sure, but just thinking in terms of how they see it. Discover is known to be conservative. However all of my experiences with their CSRs have been very positive. They offer good rewards and are a very good prime issuer.

If you want to talk about a company that belongs in the back of the wallet, I can tell you stories about Cap One that will make your head spin.

Now having said that, I don't know why you can't just call them and ask and get your rate reduced. Me I don't care what mine is I never carry a balance. But I don't see why it couldn't be easier. Maybe they want to discourage that and see if you really want to take a bit of effort to get it reduced. I just know I've been happy with them. I'm sorry your experience hasn't been as good.

Iroquois
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It took a month but they did lower the APR

Postby Iroquois » Fri Aug 03, 2012 9:57 am

I had requested a lower APR from all of my cards, even the Mastercard that is down to 5.9%, something I do with some regularity but hadn't done before with Discover since its my back of the wallet card. This round I decided to include Discover in the request. Everyone but Discover was able to handle the request on the phone (couldn't get the MC lower than 5.9% but thats a pretty attractive rate). Discover said that they would need to mail me a form, which they did and have me sign it to request a lower rate. After a few weeks, yes they too lowered the APR, although its still high by competitive standards with the other cards in my wallet.

So, good for Discover and thank you for the lowered rate, but why must they make things like this difficult ? The CSR I spoke with said it is to comply with the CARD Act. Nice try at an explanation, but "no cigar". Yes I got the lower APR but the hassle and time delay makes them stand out, and not in a good way either.

Huge differences between what they say or imply in their marketing about being customer friendly versus what their real actions are.

MemberSince99
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Postby MemberSince99 » Fri Aug 03, 2012 11:03 am

Iroquois wrote:I had requested a lower APR from all of my cards, even the Mastercard that is down to 5.9%, something I do with some regularity but hadn't done before with Discover since its my back of the wallet card. This round I decided to include Discover in the request. Everyone but Discover was able to handle the request on the phone (couldn't get the MC lower than 5.9% but thats a pretty attractive rate). Discover said that they would need to mail me a form, which they did and have me sign it to request a lower rate. After a few weeks, yes they too lowered the APR, although its still high by competitive standards with the other cards in my wallet.

So, good for Discover and thank you for the lowered rate, but why must they make things like this difficult ? The CSR I spoke with said it is to comply with the CARD Act. Nice try at an explanation, but "no cigar". Yes I got the lower APR but the hassle and time delay makes them stand out, and not in a good way either.

Huge differences between what they say or imply in their marketing about being customer friendly versus what their real actions are.


Well I'm not sure why that is a huge difficulty to be honest. You're requesting a lower APR, and they granted it to you, and you're complaining because you had to buy a stamp and it took 3 weeks?

Not meaning to be a jerk but that would be like me asking for a raise and I have to go through a review and wait a month for it to be effective and I'm complaining about the huge hassle. My boss would say ok if it's a huge hassle we can just skip it.

I've found their customer service to be the best there is overall. Not to say they are perfect, no one is, but compared to every other company I've dealt with they are the best. I can't comment about Citi as they want nothing to do with me (so I'll never be able to comment intelligently on what they are like). But I think you are selling Discover short.

Iroquois
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The issue is how they compare to their competition

Postby Iroquois » Fri Aug 03, 2012 3:46 pm

If given a choice do you use a car that performs to market expectations ? Perhaps even exceeds them ? How about in selecting a computer to use ? One that measures up by what ever standards you choose or one that doesn't.

The contrasts are simply factual and the standards are set by the competition who are attempting to meet or exceed consumer expectations.

Purely, simply, factually Discover in this case does not live up to reasonable expectations on a simple operational process that is highly automated and provided by competitors in real time and then factually distorts its reason for not doing so.

Very clear, very simple; and exceptionally interesting behavior from a company who's motto on their website is to "do the right thing".

The expectations are extremely modest and exceptionally basic. The Discover performance on an issue which required legislation to overcome abuse is quite shabby by any objective standard.

MemberSince99
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Postby MemberSince99 » Fri Aug 03, 2012 4:43 pm

I'm really not seeing how you personally have been abused. You asked them to lower your APR. They don't have to, but they did it. I get you found it a hassle, but if you carry a balance isn't saving some money worth a stamp and 20 minutes of your time? I wish all problems in life could be solved that easily.

Personally I don't carry a balance so I really don't care what my APR is (I don't even know).

I just think you're making a mountain out of a molehill. You got the APR reduction and you're not happy about it. Would it have been better if they just said "no" and you didn't have to hassle with a letter?

And just for the record I'm a nerd I built my own computer. :)

432521
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Postby 432521 » Fri Aug 03, 2012 10:18 pm

Discover has been pretty good to me since I became a member, its nice to speak to Americans every time I call them.

On a side note, 99 I also want to be a nerd and build my own computer but for one I have no idea where to start and two I am kinda scared to do it.
March 2011- Wellsfargo Cash Back College Card
May 2012- Chase Freedom
May 2012- Discover IT
August 2012- American Express Blue Cash Everyday

Iroquois
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missing the point

Postby Iroquois » Sat Aug 04, 2012 3:48 am

Discover performs quite well in certain areas competitively and not so well in others. My point has to do with how they perform competitively.

Some have different experiences or different expectations.

In my opinion they have a great website.

In my opinion on requests for APR reduction and on some other operational or credit matters they do not perform well vis a vis their competition or consumer's alternatives- merely discussing the facts as best I understand them.

I think its also common acceptance by many if not most that Discover is less competitive in credit line assignment, acceptance at merchants, new account approval too.

Its just how they choose to operate.

Then their customers or prospects get to vote on what is important to them and what's not.

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Postby MemberSince99 » Mon Aug 06, 2012 7:00 am

432521 wrote:Discover has been pretty good to me since I became a member, its nice to speak to Americans every time I call them.

On a side note, 99 I also want to be a nerd and build my own computer but for one I have no idea where to start and two I am kinda scared to do it.


It changes so fast I can hardly keep up with it. Try Googling it, then look on Youtube for videos of how to do it. They should cover the things you have to be careful of when you do it. If you have a friend who is knowledgeable to help you that is a big plus as well. Just someone to be there is a good thing to have your first build.

MemberSince99
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Postby MemberSince99 » Mon Aug 06, 2012 7:06 am

Yeah they do tend to be on the conservative side as far as your credit limit goes. Unless you have sterling credit, you are going to get a low limit. Not Cap One low but low.

Acceptance isn't bad, around here I find Amex has the worst acceptance where Discover is taken most places here. I haven't personally been a merchant in my local area that didn't take it, but I have had them say they don't accept Amex.

New account approval, in comparison to who? It's really hard to make a blanket statement like that about an issuer. You say Citi is WAY better but I say YMMV - I've been shot down EVERY time I applied with Citi for basically pretty stupid reasons (like I didn't carry a balance on my cards). Yet Discover approved me no problem. Others will find Citi easier to get into. It really varies and I can't see that blanket statement being at all true.

And to be honest, if I found it the major headache and hassle you did to get an APR reduction, I wouldn't bother with it. I mean if it's going to cost you sleepless nights and weeks of being hacked off about it, is it worth it? Life is just too short. Since you have an alternative maybe better to give Citi your business and not Discover.

But i honestly don't see how you so deeply wronged you or that them doing that is a super huge hassle to be honest.



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