Grades are also broken down by the financial products offered be each institution. Discover is rated "A" in Mortgages, "A" in Debt Collection, "B" in Credit Reporting, and "C-" in Credit Cards. Click on any of the financial products to see how Discover compares.
Discover has received 2,851 consumer complaints since December, 2011 – more than 99% of other banks.
Of those complaints, 99.5% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' Discover meets the 60-day response deadline more frequently than 58.2% of other banks.
After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 18.4% of customers dispute Discover's response to complaints — better than 50.7% of other companies.
Most of Discover's customers complain about credit cards with the primary issue being "billing disputes."
Discover is primarily a credit card company and a commercial bank with a specialization is credit cards services. Discover is based in Greenwood, Delaware and is the 22nd largest FDIC insured bank in America.
Naturally larger banks receive more customer complaints than smaller ones. This does not necessarily indicate that a bank is better than another in terms of service and customer support.
However, even after adjusting for bank size and number of customers, Discover receives far more complaints than most other banks. Discover recieves more complaints per customer than 99% of other banks – customers are significantly more likely to file complaints than customers of most other banks.
|#||Financial Product||Sub-Product||Complaint Issue||Complaint Count|
|1||Credit card||Billing disputes||362|
|2||Credit card||Closing/Cancelling account||250|
|4||Credit card||APR or interest rate||218|
|5||Credit card||Identity theft / Fraud / Embezzlement||205|
|6||Student loan||Non-federal student loan||Repaying your loan||185|
|7||Credit card||Credit card protection / Debt protection||127|
|8||Student loan||Non-federal student loan||Dealing with my lender or servicer||123|
|9||Student loan||Non-federal student loan||Can't repay my loan||104|
|10||Credit card||Advertising and marketing||98|
|#||Company Response||Response Count||Timely Response Count||Disputed Count|
|1||Closed with explanation||2,069||2,069 (100%)||510 (24.6%)|
|2||Closed with monetary relief||626||625 (99.8%)||53 (8.5%)|
|3||Closed with non-monetary relief||485||484 (99.8%)||52 (10.7%)|
|4||Closed without relief||205||200 (97.6%)||40 (19.5%)|
|5||Closed with relief||111||104 (93.7%)||16 (14.4%)|
|6||In progress||21||21 (100%)||0 (0%)|
|7||Untimely response||1||0 (0%)||0 (0%)|