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Posts: 106
Registered: ‎07-15-2011
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Balance Transfer Balance from store card to discover card

This is my first post to this amazing community of financial prosperity seekers, so I'll try to summarize briefly.

I have a Walmart Store CC (not their discover card) with a $600 balance, $700 limit and it's at 22.9%!!!

I just received my Discover More card a couple weeks ago with a $3,000 limit and 0% intro apr AND

Balance transfer both for 15 months. After that it's 18%. The BT fee is 3%.

I'd like to BT the $600 to the $3,000 limit and that's all that card will be used for.

That should bring my overall credit limits to 3,700 with a balance of $600 on the $3,000 card.

I'm beginning a new job next month where I'll be able to pay off that $600 in one month if I wanted to.


Thanks to all who have input.

Valued Contributor
Posts: 2,528
Registered: ‎11-11-2010
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Re: Balance Transfer Balance from store card to discover card

I don't think you can do a balance transfer with a store card that does not use Visa/MC/AMEX/Discover directly. What you can do is call Discover and ask for a convenience check, then use that check on your store card. This is assuming that the convenience check is treated as a balance transfer, and confirms with your intro term. 


As for whether or not it is worth it, consider BT will cost you $18. Are your monthly interest greater than $18? I highly recommend you PIF this balance next month whether or not you BT.

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Posts: 3,090
Registered: ‎08-09-2008
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Re: Balance Transfer Balance from store card to discover card

Hello, heytherehitherhothere! Welcome to the myFICO Forums! Smiley Happy


While I'm not sure how much interest you'd actually be saving, vs. the 3% BT fee (approx $18) to Discover, overall, I'd say that the BT is a reasonable deal-- a net gain. It sounds as though you have only the two cards, so you should also see a FICO score boost from the reduced utilization, and the addition of a major bank card as well. Congrats!


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Posts: 281
Registered: ‎04-30-2008
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Re: Balance Transfer Balance from store card to discover card

Definitely do it. Allows you to pay down the balance without interest over several months.


And yes, you can transfer a store card balance to your Discover More, I did so myself less than a month ago with no issues.

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