Credit card or prepaid card -- Fees or interest -- Complaint #7133463
Complaint Overview
Complaint ID: 7133463
Company: Discover Bank
Product: Credit card or prepaid card
Sub-Product: General-purpose credit card or charge card
Issue: Fees or interest
Sub-Issue: Charged too much interest
State: North Carolina
ZIP Code: 275XX
Date Received: 2023-06-18T12:00:00-05:00
Date Sent to Company: 2023-06-19T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I called discover about approximately 6 months or more ago a reference to getting a lower interest because of my good payment history rate they lowered my interest rate but then was charging me two separate interest rates on the account I strongly feel that this unfair because this is a continue charge account and even if I'm paying more than what the principal amount is due More than 80 % of my payment is going towards nothing but interest this will not bring the balance down at all The amount paid towards the higher interest rate principal balance was less than {$10.00} and less than {$20.00} on the lowest interest rate principle I strongly feel this is unfair because this is a continuing charge account there should only be one interest rate on the account not two or three this is unfair because the balance is only {$3200.00} dollars this means that I would pay more than {$3000.00} in just interest on a {$3200.00} principal balance I strongly feel this is targeting no income people intentionally to get money from them and take advantage of people with poor scores that is trying to rebuild their credit
Frequently Asked Questions
What is Complaint #7133463 about?
Complaint #7133463 was filed against Discover Bank regarding Credit card or prepaid card specifically about Fees or interest. It was received by the CFPB on 2023-06-18T12:00:00-05:00.
How did Discover Bank respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Credit card or prepaid card) and describe your issue in detail.
Can I see other complaints against Discover Bank?
Yes, visit the Discover Bank company profile at readthecomplaint.com/company/discover-bank to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.