Discovercard -- GRRRR

Avatar for colomom99
iVillage Member
Registered: 03-28-2003
Discovercard -- GRRRR
5
Mon, 01-04-2010 - 10:56am

I know all of the credit cards are busily finding ways to screw customers before the new federal regulations take effect but this takes the cake. I have had a Discovercard for 7 years, always pay on time and for a long time it had a zero balance. It is the card that backs up my paypal account that I have used for hotel reservations, ebay and a recurring payment for piano lessons for my kids. I don't even have a physical card anymore. I got a notice late last week they were immediately reducing my credit limit to the exact amount I owed. No notice or chance to make a pyament to give myself some room for the things outstanding that had not hit yet -- the piano lessons for Jan. and a an order for something that is being made for me and I have been paying for by paypal in increments (deposit, fabric and then a final payment). Of course those all hit after the credit limit is reduced so now I am over my limit. I have not been over a limit for 30 years. I am furious. I called them and they said tough. I have an opportunity to do a balance transfer to another card so I am going to do that immediately and close Discover for good. My husband has one too and I suspect they will be doing the same to him, too. It all comes down to using one of those stupid low interest checks they always send. I did once in November to pay something else off. Unfortunately since I don't have the physical card I have to wait until they send me a new one before I can transfer the balance (they don't provide the full account number on statements).

I have years to go before I am paid off with everything but boy will that be a happy day!

iVillage Member
Registered: 08-24-2007
Mon, 01-04-2010 - 11:18am

I'm so sorry to hear this happened to you.

Kate


empty purse

Avatar for colomom99
iVillage Member
Registered: 03-28-2003
Mon, 01-04-2010 - 2:06pm

Not sure now I can get approved for balance transfer either. sigh. I love how they send you emails and snail mail telling you how you qualify for these things and then when you actually take them up on one of the offers they decline you. Man I hate credit cards. The thing is I am owed a ton of money for my freelancing but everyone has been very slow to pay me which came at the worst possible time with Christmas and two December birthdays plus a whole bunch of other things that hit all at once. I've been trying to cobble together enough money for cash flow in the meantime. I've tapped about everything.

Probably on some level this is a good thing (if I can make it through the next month). It is sharpened my resolve to pay these dang things off and eventually go to only paying cash.

iVillage Member
Registered: 08-04-2008
Mon, 01-04-2010 - 2:25pm

Thanks for posting your Discover vent because I am right there with you this week.


They sent me an offer for a 0% card through 2011 this week.




Avatar for cl_beckymk
iVillage Member
Registered: 03-19-2003
Mon, 01-04-2010 - 3:01pm

That just stinks!!


I was talking to the guy at the bank who was either trying to be very nice while thinking "loser" when looking at how we are surviving but he was saying how this is happening to EVERYONE with the credit cards.


The worst ones are when they lower the limit to BELOW what your balance.

Avatar for colomom99
iVillage Member
Registered: 03-28-2003
Mon, 01-04-2010 - 7:25pm
You are so right about what goes around comes around. On one hand I should never be living with this much debt and this close to the edge but on the other I have a very long memory and I'd like to think this past couple years are just part of our journey and we will be in better shape again someday. I so look forward to the day when I am not doing this kind of mad scramble each month and I am living with one credit card for renting cars only! Then when these companies start sending offers or call me and tell me what a loyal and good customer I've been I can say, "You know what, I prefer to give my money to someone else."