BT to checking for 10k?

[UncleB]

---

@Ghoshida wrote:
Discover removes the grace period the moment the BT kicks in. Unless you have 0% purchase APR, something to keep in mind.

---

+1

I have a balance transfer with Discover that is at 0% through October, but my new account 0% promotion ends in July. 

To be able to continue to use my card for the 5% categories (and not pay interest) I'll be moving what's left of that balance transfer over to Capital One in July.  It will cost me 3%, but that's less than the cash back I'll earn with Discover, and I'll have 12 months to finish paying the balance at my leisure.

If I could change one thing about Discover, that would probably be it.  If they would let you pay your 'regular' balance in full (to avoid interest) while continuing to pay on a 0% balance transfer (like Capital One does) they would be nearly perfect. 

[Bman70]

If your net gain is only $120, it could be a lot of work. Chase fine print says:

2 Account Closing: If either the checking or savings account is closed by the customer or Chase within six months after opening, we will deduct the bonus amount at closing.

So that means maintaining the appropriate balances and / or deposits to avoid account fees. Fees for 6 months would eat up even more of the $120.

[Anonymous]

Few things. Was never going to close the account so that doesn't apply .10k being In the account is the only stipulation for the bonus. This was never about profiting any money at all, whatsoever, yet that doesn't change the fact that there would be a profit of roughly 110-120, fees are easy enough to waive through a few different methods. Though again, the whole point was to acquire a freedom/cfu card 10 months early, but it doesn't seem like that is what would happen.

[NRB525]

---

@Anonymous wrote:
Few things. Was never going to close the account so that doesn't apply .10k being In the account is the only stipulation for the bonus. This was never about profiting any money at all, whatsoever, yet that doesn't change the fact that there would be a profit of roughly 110-120, fees are easy enough to waive through a few different methods. Though again, the whole point was to acquire a freedom/cfu card 10 months early, but it doesn't seem like that is what would happen.

---

Are you planning to apply In Branch? My theory is that is a different approach to 5/24 vs an online cold app. I'm trying to stay away from apping until late summer, routing transactions through Chase Checking wherever I can, and hoping that gets me a CSP. Otherwise, it would be October 2017 to be perfectly over the 5/24. But in that case, it wouldn't be October 2017, because there's a couple of Citi cards I'd not pass up, and the 5/24 would extend into 2018. Not a happy thought with all the Freedom points I'm building.

[NRB525]

---

@UncleB wrote:

---

@Ghoshida wrote:
Discover removes the grace period the moment the BT kicks in. Unless you have 0% purchase APR, something to keep in mind.

---

+1

I have a balance transfer with Discover that is at 0% through October, but my new account 0% promotion ends in July. 

To be able to continue to use my card for the 5% categories (and not pay interest) I'll be moving what's left of that balance transfer over to Capital One in July.  It will cost me 3%, but that's less than the cash back I'll earn with Discover, and I'll have 12 months to finish paying the balance at my leisure.

If I could change one thing about Discover, that would probably be it.  If they would let you pay your 'regular' balance in full (to avoid interest) while continuing to pay on a 0% balance transfer (like Capital One does) they would be nearly perfect. 

---

Ok, this is a little wacky. Because even with Discover you can pay the new charges, over your minimum payment, and as long as you are doing that consistently, you should be able to minimize any interest cost on the Discover.

After your current 0% expires, if you are using the card heavily, I'd first call up Discover to see if they can re-up that 0% on purchases for you. Reduces the 3% to whatever you transfer in October, and simplifies the management of ongoing purchases Discover would really like to see.

[Anonymous]

re: Discover and asking for an APR reduction - definitely go for it. I was just calling (chatting?) for a standard APR reduction for my 2013 Disco and got 0% for a year (which ended up coinciding with the Apple Pay promotion and double cash on an existing account) to which I said ABSOLUTELY! I will have earned thousands in cash back (yeah, spent a lot with apple pay) and have carried balances at 0% throughout. 

re: existing relationships and Chase and 5/24 - The one thing I'd say for sure (but I'm absolutely no one in the know) is that IF they give too many accounts in 24 months as a reason for denial, there is NO overturning it, NO special consideration. That's what I've gleaned reading these boards. However, I've seen more than one person get a card while having 5/24. The two things I've noticed, and I don't know if both need be true or if it's one or the other or what - First Chase CC and/or apply in branch/relationship with Chase. I've toyed with the idea of having DH go for a CSP as all of the Chase dealings are in my name. But at this point he's only a few months away of being under the 5/24 so we'll wait. (And not sure it's a priority now with my Ink+). 

[UncleB]

---

@NRB525 wrote:

---

@UncleB wrote:

---

@Ghoshida wrote:
Discover removes the grace period the moment the BT kicks in. Unless you have 0% purchase APR, something to keep in mind.

---

+1

I have a balance transfer with Discover that is at 0% through October, but my new account 0% promotion ends in July. 

To be able to continue to use my card for the 5% categories (and not pay interest) I'll be moving what's left of that balance transfer over to Capital One in July.  It will cost me 3%, but that's less than the cash back I'll earn with Discover, and I'll have 12 months to finish paying the balance at my leisure.

If I could change one thing about Discover, that would probably be it.  If they would let you pay your 'regular' balance in full (to avoid interest) while continuing to pay on a 0% balance transfer (like Capital One does) they would be nearly perfect. 

---

Ok, this is a little wacky. Because even with Discover you can pay the new charges, over your minimum payment, and as long as you are doing that consistently, you should be able to minimize any interest cost on the Discover.

After your current 0% expires, if you are using the card heavily, I'd first call up Discover to see if they can re-up that 0% on purchases for you. Reduces the 3% to whatever you transfer in October, and simplifies the management of ongoing purchases Discover would really like to see.

---

I've got conflicting information on that, NRB...

I plan on calling to ask about an APR reduction (or promo extension), but from what I understand you can't do that until the new account promo expires. 

The amount I'm carrying over isn't huge, so I'm not too concerned with the small BT fee, plus it would 'reset' my 12 months to get it PIF.  I agree that it would be much easier if they would simply do like Capital One and allow any amount over the minimum to go towards new purchases, but that doesn't appear to be the case.

I would love to find out my understanding of this is incorrect. 

Edit: typo