I was paying down a loan with Discover making a $662.00 monthly payment at a higher than usual interest rate. The loans was a 4 year loan and had a balance of $15,510.
I received an offer from my bank to consolidate loans at a forever interest rate of 8.99% My credit limit would only cover $14,500.
After this amount was applied, I contacted Discover to get my remains balance and the automated system stated that because of the huge payment no payment was due this month. This morning I had notification that I went overdraft because Discover had took $662 out of my checking account.
Product or Service Mentioned: Discover Bank Loan Modification.
Reason of review: Poor customer service.