Throw Your Discover Card Away

Do you wonder why we occupy Wall Street? Look no further than this story.

For years and years I have been getting pre-approved offers from The Discover Card. They have offered me everything. They have been relentless in trying to get my business. Sometimes I get three offers a week in my mailbox. The last offer I got was something like this. Join Discover Card and enjoy no interest on balance transfers for a year, and enjoy a rate from 10.99 % to 18.99%.


Dear James Edstrom,

Great News! Based on your latest credit information, you're pre-approved for the Discover Card with a low introductory rate. If you are still looking for a great card with low intro rates, this is it.

Plus you can make your money worth more. Earn 5% Cashback Bonus year round in categories that change like travel, gas, groceries, restaurants and more.* Get up to 1% unlimited cashback bonus on all other purchases automatically.

To take advantage of these great rates and benefits, accept your Discover Card today at

Sincerely, Julie Loeger, Senior Vice President

The small star next to restaurants and more tells you to read the other side. The reverse of the letter states:

0% introductory APR for 12 months from date of account opening.

After the APR expires, your APR will be 10.99% to 18.99% based on your creditworthiness.

Most of my credit cards are very low rates, but I have one that is around 16% which is too high for someone that has such a high credit score. So I figured since I had such a high FICO score and had nothing bad on my credit report, I would get a better rate on a balance transfer and better interest. So I sent in the offer to Discover. They sent me back my FICO score which is better than most of the people in this country and said I was approved.

The card arrived the other day and I was in shock. The interest rate is set at 18.99%. Are they kidding me? Based on my creditworthiness, in their own words, I should qualify for the lowest rate. This is the highest rate on any of my cards and is the rate for someone that does not pay their bills on time. But this is Discover Cards scam, like all the banks and all the credit card companies. This is why we protest and this is why we occupy Wall Street, because these companies take advantage of the laws and rip off the American public. It is not fair that they can send you a pre-approved offer with rates from 10.99% to 18.99% when you have excellent credit and then they give you the highest rate.

I called Discover Card today. They admitted I had a excellent credit score but refused to budge on lowering the rate. They wanted more information on the balance transfer and I told them to shove it. I told them I was going to contact Senator Chuck Schumer, which I will do after I finish this story. There needs to be a new law. The credit card companies know your creditworthiness before they send you a offer. If they are offering you credit, because of your good credit history, they need a law that states that the credit companies must give you one credit rate in their offers and stick to it. They should not be allowed to offer you a 10.99% to 18.99% and stick you with the highest interest. This is why we occupy Wall Street and this is why we protest the banks and the credit card companies. They continue to find loopholes in the laws and they use them against the American public. Discover Card is a outrage and they along with all the other companies need to be stopped. So if you get a offer from Discover Card or these other companies and it looks too good to be true, it is too good to be true. Throw them in the garbage!