Discover Financial’s credit rating reduced
In what seems like a cruel and ironic twist of fate, credit card companies are beginning to see their ratings decline.
Discover Financial Services, purveyor of the Discover Card, is the most recent victim of the credit crunch. Moody’s Investors Service, a corporate ratings agency, cut its senior unsecured debt rating for the ailing company. Currently, the company’s rating is in non-investment grade territory.
Representatives from Moody’s Investors Service cite Discover’s lack of product diversity and its dependence on the securitization market, which is virtually frozen.
Greetings! I’m Kevin D. Johnson, a business owner who has recently assumed the role of consumer advocate and internet activist. Atlanta, Georgia is my home.
Upon returning from my wonderful honeymoon in Jamaica in October 2008, I received what I thought was an ordinary American Express bill, but to my surprise it was a disappointing letter informing me that my credit line was reduced by about 65% for a highly suspicious and discriminatory reason. Considering my excellent credit score and pristine payment history, it just didn’t make sense. However, what does make sense are the unfair and insidious policies that I have uncovered when asking why. It is time to change them.
I created this web site to document and share my challenging journey to change what is wrong, unfair, and unjust in the credit card industry. The ultimate goal of this web site is to inform consumers of ways to stand up for themselves against treacherous business practices and to educate consumers about how to improve their credit. Finally, I hope to encourage a more open dialogue with credit card companies about their policies–good and bad.
I am proud to say that this blog's unyielding demand for change led to an important 
That's why Discover does automatically decline all online credit card applications even if the applicant's credit score is high (FICO 750-850).
Posted by: Score Analytics | December 05, 2009 at 12:06 AM
Auctions are often the best place to save money when buying a car. Auctions for used cars can provide you with mounds of opportunities to buy a good car without spending too much money. It is very important, however, to prepare yourself before getting into an auction so that you would be able to really get a good deal and not end up wasting your money on a badly conditioned car. It is important for you to know how to take advantage of used car auction to make the most out of your car buying. An auction is going to offer the car at a certain price to start the bidding. The individual selling the car will have a specific price that they are looking for. The key for the owner is that they have it on auction one time only. This means they have to make the amount right for the consumers who show up at the auctions. You best type of auction is going to be a police auction or city auction. While they are looking to make money they are also trying to get rid of the property seized and therefore the prices are usually a little lower on the cars at their auctions.
http://letterdash.com/saver/take-advantage-of-used-car-auction-and-save-money
Posted by: David hogard | November 10, 2009 at 04:44 AM
This isn't cruel. This is JUST!
What else can big companies expect when they clamp down on wages, dilute the job market through headhunters and immigration, and then jack up interest rates and penalties?
Where I come from, this is called "kicking people when they're down", and it's about time something comes back to bite them!
Fabulous job on exposing their practices, but Good Lord, man, don't feel sorry for them!
Posted by: Timothy Jones | August 09, 2009 at 08:11 PM