Discover Card, Discover Bank
Minimum Payment Doubled on Low Interest Balance Transfer

My statement due October just arrived. I have been paying on the balance for a couple of years now. I pay slightly more than the minimum payment and my credit report with one of the credit reporting agencies is riddled with "never late". I opened my current bill and it says the minimum payment is $304. The amount I paid last month was $160.

I called them up and asked about it, and they said that the $304 is the real amount that I should have been paying all along given their policy on balance transfers. The customer service rep. claimed the higher amount had something to do with some law passed as a result of customers complaining that their balances weren't going down fast enough, but she said I could opt out of the higher minimum payment. I'll believe it when I see it.

I also don't buy that it has anything to do with a law, given all my other balance transfer minimums on all my other cards are at 2%, not the 4% Discover is asking for. She also said it was in my CC agreement dated not in the offer text. Even if that is so is after I borrowed the money... Can anyone say bait and switch? BTW, this is the second time I've been burned by this company... Never give a CC company a second chance, or anyone they bought or were bought by.

Company: Discover Card, Discover Bank
Country: USA
State: Utah
City: Salt Lake City
Phone: 8003472683
Site: discovercard.com

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