5 years ago I did a balance transfer with Discover at 3.99% fixed. I have excellent credit and have made monthly payments as required.
Two months ago, Discover said this offer had expired and they upped the interest rate to 13.24%. I wrote to them and they credited the excess interest for 2 months but said that the interest rate change was valid.
So I called yesterday and spoke with 3 different people. Discover supervisor claims that they have no legal obligation to post an expiration date of a discounted interest rate monthly. They claim that it was on the original documentation which I no longer have and that is the only requirement that they have.
I am sure that this was an indefinite offer and that they 1. legally had the responsibility to show the offer was expiring (if it was) and 2. legally had the responsibility to inform me if they wanted to increase the rate allowing me the option of closing the credit card.
Does anyone have experience with Discover and the laws on this issue. I have taken it to the Discover page on Facebook to out them!