I got the pre-approval personal loan letter in the mail offering up to 25k with a 7.99% interest. Read all the fine print, and decided it would be a good way to consolidate debt from 3 other credit cards.
Filled out the app online, spent a good 30 mins on the phone with a rep repeating all my information that I already had filled out online and at the end he said we were approved for the 25k with a 8% loan. I was thrilled - I knew we had good credit but figured this would be a great way to pay off debt that's been adding up and have a little extra on the side for other things. Over the next couple days I sent in my paystubs, proof of employment, and the debt information that needed to be paid off, etc. Called twice to check on status - said processing.
Got a call today, 7 days later from starting the app saying we were denied. Couldn't even have a dollar loan. After being "pre-approve". I tried talking with them asking other options.
Nothing. So in sum, waste of time and a pretty big let down when for an entire week I thought I HAD this loan since they told me I was approved. Now they also ran my credit for nothing and have all my and my husband's information.
Not happy. Don't waste your time!
Review about: Discover Personal Loans Loan.