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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).

Review about: Discover Bank Credit Card.

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Anonymous
#326021

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."

Anonymous
#271136

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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