Discover Card APR interest rate increased to 24.99% - but nothing negative on credit report and all Discover payments made timely.
I have had a Discover Card for quite some time. Recently, they raised my interest rate to 24.99%. When I called the company to find out the reason they stated there was nothing wrong with my Discover payment history or credit history records. It was just that now it was their policy to increase the rate for "competitive reasons." When I pointed out that none of the APR rates had been increased by my other credit cards accounts, the customer service representative just repeated that Discover Card had changed policies. It is my strong opinion that the increase in my Discover Card APR is usurious and unreasonable.
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