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Discover® Personal Loans – this loan offer is no longer available on Credit Karma

3.5 out of 5 stars
17 Reviews

From Borrowers in the last year

ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

3 out of 5 stars

Customer Service

3 out of 5 stars

3.5 5

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Most Helpful Positive Review

May 21, 2016
Timeline For The Loan
Meg5000 Borrower

I'm posting a review for what I was looking for when I read reviews and that is a breakdown from application to funding.  I applied for a $5,000 loan on Monday May 16 after work around 5:30pm. I filled out the online application and it prompted a call from a loan service member.  The call took about a half an hour.  He asked basic financial questions and emailed me a link to scan my paystub into which I did right after the call.  The next day, Tuesday, a loan officer called during my 12:00pm lunch hour to confirm they had received my financial verification and to offer me the loan and go over terms.  She took my banking info again because I was having it deposited directly into my bank account and told me it was generally next funding unless there error in the account number.  I wasn't sure if next day funding actually meant I would receive the funds the next day, Wednesday, or if that was the day they would begin funding on their end.  I checked my account on Wednesday and the funds were not deposited. Thursday, funds were not deposited and I was getting a little worried because I couldn't check a website and see the status, but Friday they were deposited!

The process was very straight forward and the rate was very good.  This is my first personal loan and overall I am satisfied with the process.  If you need your loan for a time sensitive event, I hope the timeline is helpful for you. Best of luck!

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Most Helpful Negative Review

Jun 09, 2016
Horrible service.
Anonymous Borrower

When the online payment service is down they still charge a late fee. I went twice to the online payment twice. Kept getting error messages. Called and they said there's nothing the could do so they still charged a late fee. Little here little there over thousands of people, extremely unprofessional and predatory. Just paid off the loan in full, let them prey on others until they get slapped w a large class action.....hmmm that's an idea

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These reviews were written by current and former borrowers in the last year.

Dec 06, 2016
RIDICULOUS
Anonymous Borrower

Was the most ridiculous waste of my time and the biggest runaround I have ever gone through!Every time I gave them what they asked for they wanted something else.DON'T WASTE YOUR TIME!

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Oct 28, 2016
I love Discover
Anonymous Borrower

Love Discover

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Sep 09, 2016
Great personal loan
AprilLynn71 Borrower

It's my first loan. It was easy and I received the lowest APR, 6.99%. There are no fees or penalties for early payment. I had bad credit 2 years ago and worked to bring it up. If you get denied it's for a good reason. A high credit score number does not guarantee you perfect credit. You have to look at everything in your credit history.

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1 Reply
Sep 20, 2016

What's the highest credit score needed to get approved

 
Jul 27, 2016
Buffo5252 Borrower

On (7-25-16) I put in for a loan 5,000 Dollar's My Score on FICO is 734 I have (5)credit cards 2 capital one Cards 5,000 limit I also have Kroger's 1-2-3 Rewards credit card 1,000 limit on that card & I have a Target card it's only $600 limit I've had these cards alittle over 2yrs Now I've always paid My cards two week in advance each month I never go over my percentage on each card which is about 10%..I got a personal Loan from another company called Avant a year ago it was only for a 1,000 Dollar's they put a 3year Contract on it But I went ahead & paid it off in a Year just to show Leander I am responsible..But anyway what I'm getting @ is I said to Myself I want to get another Loan So I want to see what loan company could give me a low interest rates for $5,000 Avant who I went to @ first I tried them But it was still alittle high for what I was looking for..So I came here to Discover Loan I put my information is on the website they gave me a confirmation number told that they could give me a loan.(one thang I didn't like about them checking My credit score after they done that my score went down 7 Freaken points)..so I called them talk to a guy over the phone I gave him my confirmation number the website gave me after filling out the application he told me yes we could give you that $5,000 loan with a 10% interest rate which was fine with me $166 a month as he proceeded to the final Steps over the phone he said wait a minute we still need a document of your check stub of your employment I said okay he email me I downloaded my check stub and send it to them and the email said they will call you in 48 hours to finalize your loan..OK two Days later I look @ my email & Discover Loan had sent me a email asking me the Same Damm thing I just sent them 48 hrs ago..the email ask Me to send my pay statement AGAIN..I was like I just sent it to the link you Ask Me to do Two days Ago.. Now I have to wait another 48hrs for you to accept or deny me..This is just Crazy to Me...just don't understand why they email me a second time to e-file my pay statement that I'd already done the first time... Why they're asking me to do it again..(SMH)..I'm Not understand this proceedings from them...if you Not wanting to give it to me let me know Cause it several other loan companies that could accept me I'm just trying one loan place at a time..

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Jul 27, 2016

Well I just called and talk to one of loan representative and I was accepted for my $5,000 loan I'm So Glad and Happy Today.. Thank God I was Bless today and also I Got A Great interest rate 10.99% Not Bad @ all I'm Very Happy ..other Loan places was way higher than that I don't even want to tell you some of these loan company just be trying to use you because they think everybody is desperate to say yes just to get some money that's why a lot of people end up going bankruptcy becausethey accept desperate money not caring about the high interest rate I've never been desperate it has to be the right interest rate for me I have a nice credit score 734 and I expected to get a low interest rate and that's what I got with Discovery loan I will be coming back to them after I pay off this long I probably pay it off in about two years they gave me a free year 36 month to pay it off but I will pay it off early no penalties to pay off early so I'm a happy camper today..I will be much happier when the money hits my checking accounttriazolam

 
Jul 19, 2016
Easy, Fast, GREAT!
Anonymous Borrower

I'm not sure why Discover PL has so many bad reviews???  Yes they ask a lot of questions, but you are applying for an unsecured personal loan - this requires a lot of questions.  Also, receiving a "pre-screened" offer does not guarantee approval.  Discover loans are meant for consumers with above average credit, low debt to income, and the ability to repay.  The customer sevice reps were incredibly friendly and helpful.  When I called, twice, each time a person picked and there was no hold time.

Should the life of my loan continue this easily, I would definately apply for a loan with Discover again.  This has been the easiest and least hassle PL I have gotten. 

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Jun 09, 2016
Horrible service.
Anonymous Borrower

When the online payment service is down they still charge a late fee. I went twice to the online payment twice. Kept getting error messages. Called and they said there's nothing the could do so they still charged a late fee. Little here little there over thousands of people, extremely unprofessional and predatory. Just paid off the loan in full, let them prey on others until they get slapped w a large class action.....hmmm that's an idea

more ...
May 21, 2016
Timeline For The Loan
Meg5000 Borrower

I'm posting a review for what I was looking for when I read reviews and that is a breakdown from application to funding.  I applied for a $5,000 loan on Monday May 16 after work around 5:30pm. I filled out the online application and it prompted a call from a loan service member.  The call took about a half an hour.  He asked basic financial questions and emailed me a link to scan my paystub into which I did right after the call.  The next day, Tuesday, a loan officer called during my 12:00pm lunch hour to confirm they had received my financial verification and to offer me the loan and go over terms.  She took my banking info again because I was having it deposited directly into my bank account and told me it was generally next funding unless there error in the account number.  I wasn't sure if next day funding actually meant I would receive the funds the next day, Wednesday, or if that was the day they would begin funding on their end.  I checked my account on Wednesday and the funds were not deposited. Thursday, funds were not deposited and I was getting a little worried because I couldn't check a website and see the status, but Friday they were deposited!

The process was very straight forward and the rate was very good.  This is my first personal loan and overall I am satisfied with the process.  If you need your loan for a time sensitive event, I hope the timeline is helpful for you. Best of luck!

more ...
May 16, 2016
Anonymous Borrower

What a lot of people never think about is that your credit does all the talking. I was approved for a loan at a 10.99% with a score of 750 for a consolidation loan. People who think that they are perfect are the ones that get a shock when they're given a loan at a higher rate. Why are you calling in the first place if you can't pay the interest that is based on your financial picture. I work in Banking and it kills me when people want the best but their track record sucks. I love Discover and I appreciate the loan I received. 

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May 06, 2016
Great Experience and Service
Anonymous Borrower

After reading these reviews I was very nervous, however, I decided to try anyways. Very glad I did! I have a good income and an okay credit score and they were able to consolidate two very high interest rate credit cards into one personal loan with a lower APR. Not sure how people were denied with great income and credit score but I am glad that I didn't listen to the reviews. Everything was done within 2 days, income verification is what took the longest. Definitely would reccommend.

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Mar 31, 2016
Anonymous Borrower

Their system had an error, which didn't process two of my payments even after i show them it has been taken from my bank. They harras me on a weekly basis, even as early as 8am asking for last due payments despite the fact I am current. Absolutely horrible, and to make matters worse, they have reported me to the credit bureau, harming my credit score... All on THEIR system error!! Should be illegal!

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Jun 28, 2016

For them to report to the bureau, you must have reached 30+ days delinquent. Yes their website may have had an error once or twice but come on... If you're 30+ days past the due date then that's not their fault.

And if, it's a BIG IF, you actually made those payments and they kept trying to collect, you'd have a slam dunk case to win $1,000-3000 without even going to court.

 
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