Please be aware before you agree to a balance transfer onto your Discover Card or any card for that matter, that it necessarily isn't the way it will be explained to you on the phone.
On Feb 19 I was snookered into instituting a balance transfer for $8500 onto my Discover Card. I was given misinformation. I was told that there would be absolutely NO finance charge until Aug. 2005 and at that time I was able to renew my 0% APR until I had my balance paid off. I know this sounds to good to be true, but I fell for it. I repeatedly asked Mason over and over again if he was sure that this is the way it was. He said yes. He said that when I got my statement that my purchases and my balance transfer would be separate on my bill and I could just pay my purchases off and an additional 145 dollars towards my transfer and I would never have a finance charge. He explained it all too me but told me I only had "today" (the current day) to take advantage of it. I foolishly did. Apparently Mason got a big kickback from Discover for each balance transfer he deceived people into taking.
I feel so stupid for believing this, but I did indeed. Well when I received my first bill, I saw immediately that "what he said" was not true at all.in fact hardly anything he told me was true. I immediately called Discover to report this and told them about all the misinformation that I have been given. The point of this entire consumer complaints, is that Discover hired someone who was giving misinformation in order to persuade someone to obtain a balance transfer from them and they should should right this wrong. Well anyway at the time I was told (I have complete documentation of all phone calls that I have made for the past year) that I needn't worry, that all finance charges would be subtracted from my account until my loan was paid off.
I explained to Rosa that it would take me more than two years to pay this off. She said not to worry, that she would take off the finance charge for as long as it takes to pay off the loan.
Well here we are one year later and I have a balance of $5,600 and am being told that they will only subtract finance charges for 2 more months. Now, they are saying that the $5,600 dollars represent my purchases and not my balance transfer.
To me this is unfair... I was given misinformation by someone that Discover has employed and therefore they should make this good.
Please don't ever fall for this balance transfer gimmick that you hear about. What they do is give you 0% on your transfer, but you will pay big time on your purchases... It amounts to false phone advertising if you ask me. Perhaps some of the phone solicitors are honest, but I did not have an honest one.
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