Discover Personal Loans Review


Rating: 9.5 / 10 (Excellent)
15 Customer Comments & Reviews - see all comments
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Discover introduced the first cash rewards credit card in the 80s. They've since grown into a vast financial services organization that offers an array of products including home loans, student loans, banking and personal loans.

Personal loans give people quick access to funds they can use for a variety of things. Big life events like weddings or college, handling unexpected bills, debt consolidation...these are all reasons people might seek out a personal loan.

Discover offers up to $35,000 in personal loans and flexible loan terms of up to 84 months.  Fixed interest rates ensure monthly payments don’t change which makes for easier payment planning.

Category

Direct Loan Service

Loan Details

Unsecured Personal Loans

Minimum Loan Amount

$2,500

Maximum Loan Amount

$35,000

Minimum Loan Period

36 months

Maximum Loan Period

84 months

Loan Rates

6.99% to 24.99% Fixed APR

Direct Deposit

Discover sends funds straight to your creditors or your bank account as early as the next business day after accepting the terms of your loan.

 

Discover Representative Sample

A consumer borrowing $4,000 at a 15% APR over a 24-month period would end up paying a total of $4,654.72.

Application

Applying for a personal loan is possible through Discover’s secure online application portal, or by speaking with a dedicated loan specialist.

Online Application Time

A few minutes

Response Time

A few minutes

Qualification

Must be 18 Years Old and Older

Bank account that accepts AC Transfers

Driver’s License or Government Issued Identification

Information Used

Debt Income Ratio

Credit Score

Current Income

Employment History

Discover Personal Loan Summary

Discover is an excellent option for personal loan shoppers looking for quick access to cash. It offers unsecured loans of up to $35,000 and its 84 month loan term enables you to stretch out payment periods, resulting in smaller monthly payments. What's more, Discover makes getting personal loans quick and easy with its secure online application. Their fixed rates ensure you'll get no monthly payment surprises.

 


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15 Customer Comments & Reviews

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A
Adwoa
Newark, New Jersey
12/3/2017
Fast and reliable, spoke to them and had the money deposited into my account the next day, thank u discover, You are the best.


M
Matthew M
New York, New York
11/14/2017
I used Discover for my student loans and was very pleased with them. 5 stars.


N
Nathaniel A
Dearborn Heights, Michigan
8/9/2017
I love discover they will help you help out when you need it


P
Patsyuchok
7/30/2017
I applied for this loan twice: the first time I got it but I let my offer expire. Two weeks later I applied for the same loan and got denied. My situation is that I am currently about to start a new job with a very decent annual salary, and I have a contract on hand. But the second Discover rep (who denied my application) said that since I am technically "between jobs", I do not qualify for a loan. He told me to reapply once I am on the job. I mean great, I won't need a loan once I have my paycheck! I am very disappointed by Discover. I love their credit card but I am surprised at the superficial formality with which they treated me. I am a very responsible borrower with an... Read More


Johnny C
Las Vegas, Nevada
7/26/2017
Worst Personal Loan service out there. Applied for mine on the day of 7/10, spoke to a loan specialist, was told I would be given a link to upload documents. Waited until 7/12, no e-mail received still, called back to find out the loan specialist never sent the e-mail, okay, no biggie. sent the info on 7/13, did not receive a call until 7/16. talked with specialist confirming everything, was told wire transfer would be received in one business day. Now it's 7/26, called back, was told that they tried sending it via wire transfer, did not go through. NEVER CONTACTED ME, decided to just mail me a check. Now was expecting the funds 7/17, it's now 10 days later still no funds. WORST... Read More


T
Tyrone
Lakeland, Florida
7/25/2017
I'm not one for writing reviews, this is one I could not let go by. I went on line filled out the Application which took a few minutes, within a few seconds I received a answer saying I needed to call. I thought about it and I made the call the lady on the phone was very very helpful, some of the best customer service I've delt with I think her name was Caroline, she asked a few questions told me to wait a few minutes and came back and said I was approved for what I ask for. The process was very quick. I called on a Thursday Monday the money was in my account. So now for the papers. They came and just like she said on the phone, no hidden fees, no fees for paying of early, everything... Read More


L
LaToya L
Houston, Texas
1/13/2017
Quick and very easy to use. Helped me with my bills with no problem


J
joe C
New Brunswick, New Jersey
12/22/2016
I applied for a Home Equity Loan with discover on August 15, 2016. I have been asked by their processor to submit documents (paystubs, CC statements) 3 times. they are incompetent. Its December 22,2016 and I still have no idea when we will close--not that we're going to. I have since obtained a HELOC with Santander--which BTW took exactly 26 days from application to closing.


P
Paul Y
Rapid City, South Dakota
12/4/2016
What a joke. Have sent documents to them twice. They denied receiving them. Post office tracking says otherwise. Shouldn't even need to send them. I've already had a loan with Discover, had the same job for 15 years, and have a 780 credit score. I can't get a loan from them. Like I said, what joke.


J
Jeff M
Richmond, Indiana
11/30/2016
They claim you can apply without affecting your credit score, so I did and was pre-approved pending employment and income verification. So I accept and allow them to post a hard inquiry because I know I can verify my employment and income reported. They pulled 2 hard inquiries! After forwarding them proof of income, proof of employment and last years tax returns I hear nothing for 1 week after being told I would hear within 48 hours, I follow up with them and they tell me they cannot do my loan. Their reason given was due to my current monthly obligations. I have a 90 day personal loan for $5000 that is a 1 time payment which they included in my monthly obligation. My credit score is 676... Read More



Our Partner
9.5 / 10
  • Fixed-rate personal loans up to $35,000
  • Check your rate with no impact to your credit
  • No origination fees. No closing costs. No pre-payment penalties.
  • Loan terms from 36 to 84 months
  • Rates ranging from 6.99% to 24.99% APR
  • Funds sent the next business day after you accept loan.