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27 Customer Reviews - see all comments
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Discover personal loans are a product of Discover Financial Services, Inc., an Illinois-based company that is best known for its credit cards. The firm is one of America's financial giants, with over $93 billion in assets. In additional to personal loans, the company offers home loans, student loans, banking, credit cards, and debit cards.
- Fixed-rate personal loans for $2,500 - $35,000.
- Check your rate with no impact to your credit.
- No origination fees, closing costs, or pre-payment penalties. Funds sent the next business day after you accept loan.
- Loan terms from 3 - 7 years.
- Rates ranging from 6.99% to 24.99% APR.
Latest Discover®️ Reviews
Total nightmare. We obtained a loan for a better interest rate on an existing loan that we had, and after sending tons of documentation to obtain the loan, received our checks to pay off the existing loan and provide a little bit of extra money. Then, without warning, they stopped payment on the checks, leaving us with NSF fees and penalties from our existing loan that was to be paid off. After five hours on the phone with five different people at Discover, we were told that they have had "significant problems with fraud" and were concerned because we had a new address (we had moved three months prior). We received no phone call or email from Discover about the concerns; we found out after... Read More
Worked out well, after initial reviews. They had more verfication requirements but the terms and customer service has been good.
Seriously? I have a hard credit pull on my credit report, and I am caught up in sending more... some more.. identification documents, after sending my passport, utility bills, w2s and 30 other documents.
Discover personal loans is a scam! Just another bait and switch predatory lender. I will never do business or recommend Discover products to anyone I know. Stay far away from this very deceptive company
They’re a subprime lender. I used them once to consolidate a few credit cards. My score at the time was 620. I paid the loan off in 14 months and was sent multiple letters stating I had an impeccable payment history with them. A year later I was sent a pre approved offer. I thought I’ll use this to remodel a room down stairs into a theater. My score was around 760….. denied! Lol when my letter came it said I had too many accounts opened this year 1 haha and my account history was too short. I have ten years of perfect payment history on 16 accounts. This company is akin to a predatory lender and I would avoid the at all costs. Their credit cards are fine but the loans are for people... Read More
Poor Service. Prequalification is a joke. Do not apply. This folks are full of Kacka
We applied for a Discover Personal Loan and provided the information requested on line. The next step was to speak with a representative and verified what had been put on line, gave our banking information and permission to pull a credit report. We buy real estate and think very carefully before having a hit to our credit report. This was one of those times we thought the benefit was worth the pull to get funds to update a kitchen and electric. We do not carry a mortgage on any property to avoid closing costs and this was another benefit of the Discover Personal Loan. My credit rating is around 800 and I felt this personal loan would be an easy fairly non invasive loan. At the end of the... Read More
Never ever use Discover Personal Loans. I have been paying a 15,000 loan off for years. I have paid over 14,000 in payments on time over the years and I still owe 14, 725.00. I have put many complaints in but the answer is always the same. That is how these loans work, they capitalize on the interest. It is amazing how the banking industry is allowed to prey on students and parents. Does not make sense- continue to fight and write to your Congressman and anybody who will listen!!!!!!!!! I would give it a zero rating but not a choice!!
Borrowed $25,000.00 from Discover Personal Loans. Account Opended: Jan 16th 2014 They advertise 6.99% - 24.99%. At the time of the loan I had excellent credit and my interest rate was 15.99%. First payment 02/2014 Made 57 Payments on time at $500.00 = $28,500.00 Payed off loan 11/07/18 = $10,172.39 ------------ Total Paid: $38,672.39 That's $13,672.39 Profit for Discover Now they want $209.00 More. I am not paying you another penny. My advice is to never use Discover Personal Loans.... Read More
The mailings made it seem like it was likely to get a low rate of 6.99% (with my very excellent credit and FICO Score near 800). I wanted a rate lower or at least similar to my recent personal loan at Marcus.com. That’s at 8.99% without any fees. The mailing said it was simple to apply and check my rate by going to DiscoverPersonalLoans.com and entering my reservation number. I did that asking for a 15k loan and even though I was “preapproved” they still wanted lots of online info. After completing the loan application, I am next told I must call to get a rate quote, oddly not available online. I was thinking why the need to call as all I wanted to see at that point was my interest rate... Read More
I can only speak on my experience with Discover personal loans and give them my highest ratings!
Process from start to finish was simple, quick, and easy!
I went through the online process to payoff credit cards. Not crazy about the rate. Get to verifying payoff and each credit card is listed three times. Call in to cancel... Rep tells me she can "fix" the issue. I just want to cancel the loan. Rep wants to know why I am so upset. Because a simple thing of entering payoff amounts for several credit cards gets triplcated. I don't think they are trustworthy. Discover Credit Cards are fine, don't use the Personal Loans.
So the rep says the loan is cancelled, but they can't cancel the HARD PULL on my credit report.
DO NOT use Discover Personal Loans
Fast and reliable, spoke to them and had the money deposited into my account the next day, thank u discover, You are the best.
I used Discover for my student loans and was very pleased with them.
5 stars.
I love discover they will help you help out when you need it
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
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
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
Quick and very easy to use. Helped me with my bills with no problem
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.
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.
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
Hi. Bear with me through my story to explain why I will never use a Discover product again (I will be cancelling my card soon). I am a soon-to-be college graduate. I just accepted a job offer for 72.5k with a 10k signing bonus. Then my car broke down and needed an engine swap. The signing bonus wouldn't come in until a month after I signed (three weeks after my car broke down). But I need my car to get to class. So I applied for a loan. I was approved initially but they needed to confirm my job. So, I uploaded my offer letter and received an email stating that I should wait up to 2 business days for them to call back with more information. I waited 4 business days and no call. I... Read More
This is the worst company ever. I received a statement in May after I paid Discover $6400.00, which was the payoff balance and 3 months later I received another bill from Discover with a balance of $515.90. I truly believe, Discover has lost it. They are only interested in keeping people in bondage. If you are vacillating whether to obtain a loan from discover, please do not. It is not worth the headache.
I had an excellent experience with Discover Loans. I'd been receiving the pre-approved letters for awhile but only recently decided to contact them to see what they could offer - and I was pleasantly surprised how easy the process was. I received a better rate than I expected and the application was very straightforward. I'd done a Prosper loan in the past, which was also relatively straightforward, and my experience with Discover was slightly better in terms of simplicity in the process, but both were great. I'm not certain why others have had negative experiences, but mine was excellent (I don't have perfect credit, but I've never had a late payment and have a long credit history, so... Read More