Discover is closing its credit cards with tons of customers
#1
Original Poster
Join Date: Jan 2010
Posts: 12
Discover is closing its credit cards with tons of customers
My discover card, one of my oldest cards with history around 10 years, was closed without any notice few days ago. As of now, there is no call or email from discover stating the reason nor letter in the mail. The available credit dropped to be 0 and any unredeemed cashback balance seemed like blocked.
The same case was reported from some of my friends recently
The same case was reported from some of my friends recently
#2
A FlyerTalk Posting Legend; Moderator: American Express, Capital One, Citi, Chase, Credit Card Programs, Diners Club, Signatures
Join Date: Jun 2003
Location: Miami, Mpls & London
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Posts: 48,878
How recently had you used your card?
#3
Join Date: Dec 2014
Programs: Asia Miles
Posts: 69
Maybe you racked up a lot Cashback Bonus in a short period of time? Any unusual activity in the past months/years? Discover is cracking down on MS? Did they give any reason of closure by asking them?
I do see several people reporting their accounts closed in another forum. Wondering submitting a complaint to CFPB would help.
I do see several people reporting their accounts closed in another forum. Wondering submitting a complaint to CFPB would help.
#4
Join Date: Jan 2013
Location: PVD/BOS
Posts: 879
Discover is closing its credit cards with tons of customers
Mine were closed as well. Reason given "security" with absolutely no real explanation given to me even after contacting executive offices. No unusual activity, no MS, only cb earned through legit purchases via portal.
Account was 15 years old.
Account was 15 years old.
#7
FlyerTalk Evangelist
Join Date: Jan 2014
Location: San Diego, CA
Programs: GE, Marriott Platinum
Posts: 15,486
Hopefully Discover isn't taking a page from BMO's playbook, though in the case of the latter it looks like it's MS triggering the shutdowns. These days I only have Netflix going to it to keep the account alive (and Apple purchases online maybe once every couple of years for the 5% ShopDiscover + 5% online purchase bonus) and had no problems with the last charge they made.
#8
Join Date: Jan 2013
Location: PVD/BOS
Posts: 879
Hopefully Discover isn't taking a page from BMO's playbook, though in the case of the latter it looks like it's MS triggering the shutdowns. These days I only have Netflix going to it to keep the account alive (and Apple purchases online maybe once every couple of years for the 5% ShopDiscover + 5% online purchase bonus) and had no problems with the last charge they made.
I had cashed out all of my cb so nothing was left outstanding.
#9
FlyerTalk Evangelist
Join Date: Jan 2005
Location: home = LAX
Posts: 25,927
Or could it be what you did on other cards? Banks where you have a card can (without it counting as a hard pull) periodically look at your credit report and see what you've been up to (credit-wise) elsewhere. Is there anything else on your credit report (say, total spending way out of proportion to your income on other cards) that they could have seen and reacted to?
It doesn't have to be on Discover's card that spending $500k a year with a $25k income will raise a big red flag!
#10
Join Date: Nov 2010
Location: Traveling some where hopefully
Programs: AS, AA Gold, and Hilton
Posts: 1,954
#11
Join Date: Oct 2014
Posts: 114
I have not used mine for purchases for at least 6 months. I did use to buy fuel a week or so ago. Then yesterday, I got a mailer from them offering to give me 75 usd cash back bonus if I spend 1k until April 30th.
I guess I'll be a DiscoverCard guy until I hit 1k spend.
I guess I'll be a DiscoverCard guy until I hit 1k spend.
#12
Join Date: Jan 2014
Location: Chyona
Programs: Anywhere I can ski...
Posts: 401
lol
#14
Join Date: Oct 2014
Posts: 114
Rambo - did they send you a check for the remaining balance of your bank account? I thought bank accounts take about 24 months of no use before they close them. At least that's what happened to a Chase and a local CU accounts I had. Though I believe this is different in every state.
#15
Join Date: Mar 2014
Programs: AA Exec Plat, Hilton Diamond, Citi-Prestige,
Posts: 131
I got a similar one with $100 cash back if i spend 1k. Have not used it in a while but i guess i will this month for the $100.00