Discover swings approaches/ seems more competitively responsive

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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Discover swings approaches/ seems more competitively responsive

Postby Iroquois » Thu Sep 19, 2013 7:16 am

When you strip away the attempts at PR and marketing hype and try to focus on real actions it seems pretty clear to me that Discover has become a good deal more competitive. Now whether this is sustainable or just part of a cycle ; ie meaning are they reliable, remains to be seen.

From what I've seen and heard, its my clear impression that they have become more competitive on credit card fundamentals in line assignments, lowering interest rates and granting line increases; over the past 2 or 3 years. I talked to a relative who had a problem with them a while back ( the memory of problems ling with customers, me included) but who now gets 3% cash back unlimited on everything (I don't) and just got a CLI in 3 months.

Supposively they say they won't reduce APRs below 11.99 but I've heard of people with lower rates than that ( excluding balance transfers). Most other issuers go meaningingfully lower with their APR and should too since their cost of money is probably less than 2%

The real test though will be to see how they behave over time.

2 apparent constants though seem to be clear regardless of good or bad for them. A real committment to have the best credit card website out there. The second is an ongoing attempt to differentiate themselves by advertising friendly customer service rather than market themselves on the real reasons people get , use or keep a card: credit lines, rates, rewards and acceptance.


DavidNY
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Postby DavidNY » Thu Sep 19, 2013 5:32 pm

Iroquois wrote:lowering interest rates


They did that for my card.

http://creditcardforum.com/discover-diners-club/5651-discover-lowers-my-apr-17-99-a.html

JeffM
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Postby JeffM » Thu Sep 19, 2013 8:27 pm

Wow! How did your relative get 3% back on everything?

AMEXAT19
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Postby AMEXAT19 » Thu Sep 19, 2013 9:03 pm

Its a customer loyalty offer, I received this as well and have 3% until the end of the year

skippy
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Postby skippy » Fri Sep 20, 2013 9:44 pm

My co-worker has had his Discover card for about 2 years and has yet to pay a penny of interest. He calls them up every 4 to 6 months and asks them to extend his 0% offer for another 6 months and to raise his credit limit and they keep doing it. He uses the card for everything.

Gamma
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Postby Gamma » Fri Sep 20, 2013 10:55 pm

skippy wrote:My co-worker has had his Discover card for about 2 years and has yet to pay a penny of interest. He calls them up every 4 to 6 months and asks them to extend his 0% offer for another 6 months and to raise his credit limit and they keep doing it. He uses the card for everything.


So he's had 0% Apr on purchased for the 2 years he's been a card holder?

hematino
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Postby hematino » Sun Sep 22, 2013 11:19 am



And what's more, they were pleased to tell you that they did it.
Now she's eyeless.
The snakes she held once
Eat up her hands.



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