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Discover will send you an application in the mail saying you are a "prefered customer" eligible for up to a $25K loan @ 7.99%. No matter what your credit score, you are not likely to get this loan.

Seems they want all your personal and financial information but aren't really interested in loaning money. My credit score is around 700, I just paid my discover card off, and refi on my house. I wanted to pay off my other card @ a higher rate and finish my porch on my house. Only was looking at $10K.

Sounded easy and convenient. What a waste of time!

Review about: Discover Personal Loans Loan.

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Chula Vista, California, United States #884894

I received the application in the mail & read that the interest rate could be as low as 6.99%. I made a phone call, and talked with one who took my application over the phone, and another who approved my loan, stating that the interest rate is much higher than what is written.

My intent was to greatly reduce the high interest rate credit cards, only to be told a different interest rate (much higher) than what is in writing on the invitation.

I could have independent success reducing the credit card interest rates on my own. NO, I will not be sending in the application.

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