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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.

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That is a scam ...


Whenever one takes out a loan it is imperative that the agreement is read. You should know exactly what your payment will be (at least on an installment loan) and what interest you will be charged. If you didn't do this but agreed to the loan anyway you have no one to blame but yourself.

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