why are discover cards bad
Discover is a bad credit card company for people who plan to travel abroad because Discover cards are accepted in fewer countries and territories than Visa and Mastercard. Chase and Capital One on the other hand have products that require average credit which is why you were probably able to get approved with them.
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Discover credit cards still offer generous rewards and no annual fee but how generous depends on which card you get and what your credit score is.
. When I asked Sears about their policy a couple years later a clerk said the Discover only policy was a disaster and it was changed. When repairing you credit it is important to be assertive and make them obey the law. Ago The Discover IT card is basically like another tool in a Swiss army knife of cards.
Discover pushes security above everything but allows fraudulent charges to be made against their customers. Discover it card seemed like a solid card so I applied and was approved. The point of bad terms was from the consumers point.
Discover primarily issues cash-back rewards cards. Other reasons you could be denied for a Discover card Like other credit card companies Discover looks at more than your credit score when you apply for a card. Companies like Discover try to skirt the law and assign debt to third parties whenever they can.
There are a few reasons. Why Is Discovery Card Bad. The Discover it card rewards program is steller and in my opinion worth definitely worth the risk if your scores are borderline hard credit pulls really arent harmful in the long run.
Discover credit cards can be a great addition to your wallet especially for those who prefer to earn in cash back and dont plan to use their card internationally. Some merchants also think Discover is a bad credit card company because it often charges high fees for card acceptance. What does this mean.
After the first year it drops to 1 5 which isnt as amazing but still has use. Compared with other cards Discover card offers a lot of excellent benefits that you can use on a daily basis. You may have a fantastic rate for purchases but use your card for a cash advance and you may wind up with an interest rate on the cash advance that is.
Final Thoughts Features and benefits on Discover cards differ slightly but they are mostly consistent across all cards. Two years later I want to share with you some of the reasons why you may need a Discover Credit Card. Discover was removed from all three credit reports.
After doing research I decided to apply for one of the various credit card offers I recieved in the mail. On some categories of your choice you can receive up to 5 of cash back on all your purchases made with your Discover cards. Discover cards are accepted at 99 of US.
There are also user-friendly features such as Freeze it which allows cardholders to temporarily turn off their card to prevent any unauthorized transactions. Why It is BadCash Advance Disadvantages 1. For the rest of your purchases youll get 1 cash back and you can use that to spend as you please.
Start out on a bad footing with the public and they never let you forget it. If you do not use your account for 18 months your cash-back will be applied to your account as a credit. The card came today.
Discover cards are known for their 100 percent US-based customer service and Discover has very few customer complaints with the Consumer Financial Protection Bureau. You may not realize this but as a rule the interest rate on cash advances is higher than the interest rate for purchases. But if you stay in the USA it works great almost everywhere.
Discover offers buyer protection for up to 90 days which even covers theft or. Discover issues cards exclusively on its network-branded platform and doesnt issue Visa Mastercard or American Express network-branded cards. If youre going abroad Discover is not the only bad credit card company for you because Discover cards dont accept many foreign currencies than Visa and Mastercard.
3 level 1 3 yr. Another issue that holds back some merchants may be the perception that Discover wont honor purchase agreements. The only real drawback is that it is not accepted around the world as much as Visa or MasterCard.
Like American Express Discover cards run on their own payment processing network different from Visa and Mastercard which are accepted nearly everywhere. And Discover provides free. Locations that accept credit cards.
Best of all Discover credit cards do not charge foreign transaction fees. Hi this is my first post here. Cash Advance Interest Rate is Mighty High.
The Discover derisions are based on how they came across the first couple years. They are in my experience an easy lender to work with as far as growing the limit over time. There is a major downside to Discover cards they are not as widely accepted as leading competitors especially outside the US.
Discover has something for everyone from high-earning cashback cards to fair credit-friendly student cards. Add to that that Discover is the most trusted credit card company ranked highest for quality privacy ethics and customer service. Your cash-back rewards never expire.
5 cash back in rotating categories is very powerful and they usually do not overlap Chase or Citis 5 back categories. There are other reasons people think Discover is not a good credit card company. You get up to 5 cash back.
Settings WELCOME_INDEX Bing Bot NO_PMS_INFO. You have no notifications. I was shocked upon opening it as the card is sort of a magenta color as opposed to the blue card that is advertised.
Their fraud and price protection. I suggest you do the same. Some merchants think that Discover charges steep fees for acceptance.
It could deny your application based. The card is a solid 2 on everything for your first year and 10 on select categories. You often have to be persistant with your claim and they have an obligation to fix it when you are right.
All Discover cards come with 0 liability against fraud and theft. Another issue is that you must have an excellent credit score if you want to apply for Discover cards. Its not as bad as it once was but it does mean that you need to have at least one other card or carry cash.
Discover is a direct-to-consumer issuer meaning that it doesnt partner with banks that help promote and distribute its products. So after 15 years Im closing my Discover Card account. In general Discover cards offer a good combination of rewards without an annual fee.
Weve analyzed a variety of Discover cards to establish our top picks. Discover is a great lender to start out with IMO and build your history.
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