I received a approval letter form discover as well , I could apply up to 25K .They gave a option on paper like 5 different options , everyone said one payment .
So I choose 84 months , my payment should be around $ 400 . When they call me and asked me about how I was going to use the money plus many more questions , they put me on hold and came back and said " good news , your loan has been approved " , my credit score is over 750 in all credit bureau , I never had any problem with my credit off course they had to approved , but they didn't say was approved at 19.99 % year ... Lol . Funny huh???
Not for me when I saw my first payment almost $ 600. So I called then and they said sorry that is all we can give for your credit score ... So I paid 3 months and I decided to give the money back , when I call for my payoff total after paid almost 1800 , my balance was $ 25,800 , can you believe it ??? I was owning more money that I got .
They said that was because my interest rate of 19.99 % .
So in few words , they steal from you and nothing happen , they really take vantage of people that really needs .
Monetary Loss: $25.