I received an offer from Discover Personal Loans in the mail saying I had a superior rating of 5.0 and could apply for a personal loan at 7.99%. I was denied the loan because of high cc balance (I only have 1 cc - that is Discover) and was attempting to use the loan money to pay off (completely) the Discover cc. This is truly a scam when I can't even pay off their own credit card with their own personal loan (seems like the same thing, only they don't get to change the high interest rate).

Product or Service Mentioned: Discover Bank Credit Card.

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It does say in the "IMPORTANT INFORMATION" pamphlet included with the offer: "You may not use a Discover Personal Loan to pay any Discover accounts."


I wouldn't get personal loans from a credit card company. I am very wary of cards in general.

Sorry about your situation.

One option you have is to get a personal loan from another source - you could always try online. Prosper is a great source, they have peer-to-peer lending which generally has better rates and is more flexible.

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