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  1. #1
    spartan41
    spartan41 is offline
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    Default Discover Card Waives Balance



    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?
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    Reply With Quote Reply With Quote     Dec 23, 10, 8:42 am
  2. #2
    Smerri
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    Default

    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.
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    Reply With Quote Reply With Quote     Dec 24, 10, 5:13 am
  3. #3
    DoingHomework
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    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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    Reply With Quote Reply With Quote     Dec 24, 10, 3:41 pm
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