Consumer complaint received 2016-01-19
Company: DISCOVER BANK
State: AZ
Product: Credit card
Issue: APR or interest rate

Complaint:
Discover offered me an approximately year long 0 % balance transfer offer about XX/XX/XXXX-XX/XX/XXXX. It was for approximately one year. I had a small balance on my Discover at the time to the best of my recollection. I received a somewhat larger than normal bonus XX/XX/XXXX, so paid off the rest of my Discover balance to take advantage of the 0 % offer. I received checks ( unrequested ) from Discover for this offer, and they said I could deposit directly in my checking account. Id did that for approximately {$8000.00}. I then also paid off some other balances on other cards on line. About a week later, after paying off other balances, etc. in reliance, I woke up and checked my checking account to see an approximately XXXX-XXXX negative checking balance. Despite my account having been XXXX with Discover, they erroneously reversed the 0 % deposit check, which caused my checking to go negative, massive other payments to get reversed, and huge checking fees. I still have {$43.00} in fees my bank never reimbursed me. I was in a panic that all my other lenders would send me into a default rate. Discover fell over itself apologizing for the error. They ended up having to structure a transaction with a partial replacement 0 % check and then they made a manual adjustment to my account to give 0 % for the other half. They were both still supposed to be the duration of the original deal which was a year. I got my XX/XX/XXXX statement today and lo and behold there is {$43.00} and change in interest on there. About half of the original what was supposed to be 0 % for a year reverted back to purchase rate 16.24 % in XX/XX/XXXX, 6 months or so early. The rest of my balance is still at the 0 % where it is supposed to be through XX/XX/XXXX or XX/XX/XXXX. I just noticed it, called Discover and spent a half hour on the phone. They can not explain how I have XXXX different rates and terms on what was all supposed to be a single transaction at 0 % for approximately a year from XX/XX/XXXX. Again, the only reason they ended up doing half transfer and half manual readjustment to 0 % purchase APR on their end was their mad scramble to get the money back in my checking account before I went to default rate on everything and, while I was successfully paying off debt, nevertheless get thrown into BK because of Discover pulling the carpet out from under me. Some thanks for paying off my Discover balance and being a good consumer. So to sum, they improperly reversed the first check, then put together a deal to get the money back to me which was still supposed to be the same terms ( 0 % for a year ), yet they have cut the term in half for half the deal, which will cost me several hundred in interest plus the original banking fees I still have not been reimbursed from their first mess up XX/XX/XXXX. You ca n't have XXXX sets of terms out of a single deal, just because it turned into XXXX or XXXX transactions solely because Discover 's own error resulted in that ; had they not improperly reversed the XXXX check I never would have had a negative checking balance that created an emergency that resulted in Discover having to send me out new checks, make manual account adjustments to my terms, etc. -- if the boilerplate language to that XXXX set of docs is different, that too is their problem -- we would not be dealing with those had they simply honored the first check. The XXXX one I deposited that they improperly reversed was for about $ XXXX for a year at 0 %. That is the deal I should get on my whole balance, not half. They need to honor it, reverse the XX/XX/XXXX interest charge, and reimburse me the {$43.00} in bank fees I never got back from their error XX/XX/XXXX.

Company response to consumer: Closed with monetary relief