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Pleasant surprise in this months Discover card statements. Seems the default interest rate is going to 24.99%, unless you reject the change, and then they close the account. Checked our payment history for the last year, and will definitely be in the default column.

I had intended to ask them about cutting the interest rates after making the March payments, presently one at 19.99% and the other at 22.99%.

Talked to a CSR today, and asked if once you were under the default rate would it be permanent? He told me they would look at the rate after six on time payments, but that there would be no guarantee that the rate would be cut, it could be a permanent rate (he really wasn't much help).

My gut feeling is to reject the increase , even though this is going to slow up my snowball if I have to stay with the present rates. Does anyone have any experience trying to get Discover to drop interest rates?

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