Recently we received a letter from Discover that they were going to raise our interest rate by 7 percent - according to the letter it was for serious deliinquencies on other accounts. I had just pulled a three way credit report the day before - and I pulled it up - not a collection, no deliquencies in over 4 years (four years ago we had a few when my hubby was laid off - those have long since been cleared up). I called and spoke to a supervisor - in fairness, he offered to have it reinvestigated.
The problem is that the investigation would take 30 days - and they only gave us two weeks to take the option of closing our account and paying at our current interest rate. When I explained what our credit reports all show and the credit score we had (well into what anyone would consider the good range) and that there must have been some mistake, he said he really couldnt do anything about it. So we closed the account.
According to their own terms they are supposed to let us pay it off at the original interest rate - if they don't I will keep you informed!!!
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