- 1 Discover it Balance Transfer Credit Card
- 2 Discover Discover Balance Transfer review
Discover it Balance Transfer Credit Card
A good value for cardholders who want to transfer balance but don’t want to win new rewards, the Discover it Credit Card 18-month balance transfer card combines a generous balance transfer promotion with a solid first-year bonus.
Discover will automatically match all the money you earned at the end of the first year. No record. And there is no limit to how much match.
Earn 5% money at gas stations, grocery stores, restaurants, Amazon.com and quarterly maximums every time you activate each time.
1 Earn 1% unlimited money on all other purchases – automatically.
- Intro Offer: Discover will automatically match all the money you earned at the end of the first year. No record. And there is no limit to how much match.
- Earn up to 5% on every gas station, market, restaurant, Amazon.com and up to a third of different places each time. Also, automatically earn unlimited 1% money on all other purchases.
- Pay back the money at any time. Rewards never end.
- 100% US based customer service.
- Get your Free Credit Score Card with your FICO® Credit Score, the latest number of inquiries, and more.
- Get free Social Security number alerts – Login will track thousands of risky websites when you sign up.
- No annual fees.
Discover Discover Balance Transfer review
0% Entry Time For Balance Transfers 18 months (See fees and fees)
Transfer Fee 3% (See fees and fees)
Introduction 0% APR for 6 months (See fees and fees)
Regular APR 13.99-24.99% (variable) (See fees and fees)
Annual Fee $ 0 (View prices and fees)
Other Important Features
Fraud protection, free FICO® credit score, no penalty for initial payment, instant account freezing, 100% US based service, free social security number alerts
Until recently, the card holders who wanted to transfer a big balance to a new card but still wanted to win the prize did not have too many options. Most balance transfer cards that offer a rewards program take between 12 and 15 months of transfer time. However, the Discover it Balance Transfer card is different: It gives cardholders an 18-month period to pay a balance transferred without accruing any interest – an agreement normally associated with plain vanilla cards that do not offer any extra offers.
Like most Discover cards, an 18-month balance transfer card offers a generous first-year promotion that will double your cash at the end of the first year; this is a potentially lucrative offer that uses its cards regularly for daily purchases.
The Discover the Balance Transfer card also offers an attractive reimbursement program that allows you to earn a bonus on your most frequent purchases. The cash back payment program on the Discover it Balance Transfer card can be a bit high maintenance. But if you don’t hesitate to watch where you use your card, this is a great choice for daily expenses. Do not mix this card with the original Discover it card, but you only need 14 months to carry the transferred balance without interest. This is a separate offer for eligible cardholders.
Long balance transfer time
The biggest feature that distinguishes Discover’s 18-month balance transfer card from other balance transfer reward cards is the balance transfer promotion. It will be difficult to find another prize card that saves you a lot of time during the full year and six months to pay your balance transferred before the standard speed of the card starts.
Most competitors with similar promotions do not offer any reward programs and are therefore not an attractive candidate for long-term use. Instead, the simple vanilla balance kept the transfer cards in the drawer until a lot of people paid out and allowed them to leave the transferred balance or let them leave it in their wallets.
Affordable balance transfer fee
Get a high-score for a balance transfer fee of 18 months, and a lower transfer fee for a balance transfer card. Cardholders are only charged 3 percent to transfer a balance. On the other hand, some competitors receive a high wage of 4 to 5 percent – a difference that can be added to hundreds of dollars at an additional cost.
If there is a large amount of debt to be transferred, it may be better to deal with a card that does not require a balance transfer fee. However, cards that do not receive a balance transfer fee, such as the BankAmericard MasterCard or the Chase Slate card, usually do not offer any awards. If you decide to make some money, then go to the Discover card.
Modest promotion for purchases
Unlike some competitors, the Discover it Balance Transfer card does not give a long enough time for new acquisitions to carry a balance, albeit without interest. If you don’t think you can fully pay your new purchases, you’ll probably want to put this card in a drawer until you pay your transferred balance.
Card holders take only six months to make interest-free purchases. This may give you enough time to pay for the purchase of a large ticket that you made before starting the standard speed of the card. However, there is not much time to pay for a greater balance. If you continue to balance on new purchases after the end of the six-month promotion, you may have to pay a significant amount of interest. The good news is that if you pay all your debt and you don’t carry any balance anymore, this is the ideal card for long-term use.
Solid money refund program
The classic 5 percent bonus card, the Discover it Balance Transfer card, is a great card that must be at your fingertips to carry out daily tasks, such as getting gas or eating. The Discover the Balance Transfer card allows you to make a quarterly refund and 1% cash back to make up to $ 1,500 on purchases made in various categories every month of the year.
As with other 5 percent cash reimbursement cards, rounded jackpots are usually reserved for daily purchases, such as gas, restaurants, grocery stores and wholesale clubs, so it’s not difficult to accrue bonuses. You can use this card in addition to other prize cards that offer greater rewards in months when a particular spend category has not earned a bonus of 5 percent.