Discover Card - Discover Personal Loans Are a Scam
Discover Personal Loans are not what the company advertises them to be. They claim that you can pay off the loan early without penalty. What they do not tell you is that they bill the interest for the initial duration of the loan as a "finance charge" which you are required to pay regardless of when you pay off the loan.
What this means is that even if you pay off the principle of your loan early, you still owe the company interest for the original term of the loan. Unfortunately I did not know that companies could get around the "no penalty for early payoff" by charging the interest as a "finance charge".
Now they have me locked into a higher interest rate than the credit cards that I used the loan to pay off. Definitely look at this closer before you sign up. It is a life lesson for me and I personally will never do any banking through Discover again.f1e7f49 review #224250
You may also like
- "I found out from someone that he had been charged an interest fee twice one for the balance owed plus interest on top of that interest.They did this on a..."
- "I've had similar issues as other complaints - fees at "free" atms, many denied transactions, but not once have I been able to get through to a real person in..."
- "There will be FOUR DOCUMENTS attached to this post. Please look at each of the documents. Where these people get this stuff is beyond me, it just keeps coming. I..."
- "Should've typed in "ECycleBest Review" in Google before I sent them my iPhone 4S. 1500 complaints on the Better Business Bureau alone! They quoted me at $107 and then "evaluated"..."
- "I purchased a pair of Air Max running shoes on Oct 6, by December 23 the left shoe sole starting falling apart. These shoes cost me $180 and I..."
- "The La-Z-Boy recliner was purchase from a La-Z-Boy Gallery, delivered on 1/23/13. This recliner has the power feature. This product was not used excessively, maybe three hours a day during..."
- "We followed the manufacter instruction last year when we applied deck over to our old deck. The deck looked beautiful. After this passed winter and the beginning of summer the..."
- "These people delivered (2) new leather couches 1-1/2 months late in July, 2008. Tore a hole in (1) couch when bringing in to the room. Since then, they have moved..."
- "On Wednesday, December 11th Wet Seal had a sale going on where everything in the store was $15.00 or less. It was a great deal so I figured instead of..."