I have been helping my friend get his Discover Rate down. It went into default to 19.99 because he went over his limit 1 month and then 2 months later his payment posted 2 days after the due date. I called Discover retention and they told me that after 6 months they can send out a letter to the cardholder which you send to their re-pricing department. Most likely they will bring it back down to the original APR. He said that 6 months is the minimum but accounts do not automatically reprice back to original limits and cardholders need to call and have a letter sent to them. You can not talk to the "repricing department" on the phone. He actually was really nice and didn't seem to push me off the phone. has anyone else experienced this? has it been successful?
