Balance Transfer

[Anonymous]

Hello. I recentely posted on here about doing a balance transfer. I applied for the Discover IT (My second one) and got approved for 10k. Also applied for an AMEX Everyday and got approved for $25k. The other Discover card I have has a $2500 balance on it that I want to transfer to the AMEX. Is this a pretty simple process to do? Thank you!

[Anonymous]

Also forgot to add how much will this effect my credit score? Going to be looking at some new cars this weekend in the 35k price range with a good down payment! Thank you. 

[Anonymous]

if you're doing it this weekend then i doubt any of those will even report yet. regardless, it won't really affect your score for the worse, if at all. your overall utilization won't be changing until those two cards report then the utilization will go down unless you spent way more.

the overall BT process is pretty ridiculously simple lol. you'll enjoy the process i imagine.

and i recommend getting pre approved for a car loan before going to the dealer. then, if the dealer you want to buy from can offer 0% then see if you qualify if you want but at least you have a back up. don't forget that the dealer can hold up to 2% on your APR so that's also negotiable.

[NRB525]

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@Anonymous wrote:

Hello. I recentely posted on here about doing a balance transfer. I applied for the Discover IT (My second one) and got approved for 10k. Also applied for an AMEX Everyday and got approved for $25k. The other Discover card I have has a $2500 balance on it that I want to transfer to the AMEX. Is this a pretty simple process to do? Thank you!

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BT in general are usually simple, I've done dozens over the years.

But I have to admit, when I got my EDP late last year, it came with a 0% APR BT offer, and I could not figure out how to do the transfer to AMEX. So I gave up and just use it for the 0% purchase APR.