Reply
Regular Contributor
cowboyguy
Posts: 197
Registered: ‎07-26-2012
0

Discover It Balance Transfer Question

My question is, can someone transfer balances to any other person's credit card? My husband is currently carrying some balances and I wanted to transfer his balances to the Discover It card I'm about to apply. In the online application under the balance transfer screen, it doesn't ask for the name of credit card holder. Rather, it just asks for the creditor's name, account number and amount.

Walmart Discover $10,000... Chase SW $8,500... Freedom $7,000... CSP $6,000... Amex Delta $3,000... Amex BCP $2,000... Local CU $1,500...
Regular Contributor
asteroidblues86
Posts: 234
Registered: ‎08-04-2012
0

Re: Discover It Balance Transfer Question

It should work. I have not done so myself but from what others have posted here recently it has been done.

Regular Contributor
cowboyguy
Posts: 197
Registered: ‎07-26-2012
0

Re: Discover It Balance Transfer Question

Also, should I ask my husband to put a couple of big purchases on his card before I transfer the balance? I wanted to make most of it. If you're getting a 0% for 18 months, why not put a large amount, right?

Walmart Discover $10,000... Chase SW $8,500... Freedom $7,000... CSP $6,000... Amex Delta $3,000... Amex BCP $2,000... Local CU $1,500...
Regular Contributor
asteroidblues86
Posts: 234
Registered: ‎08-04-2012
0

Re: Discover It Balance Transfer Question

It would be better to put the charges on the Discover card if it's 0% on new purchases. When you balance transfer existing balances there is a 3% fee added on.

Senior Contributor
youngandcreditwrthy
Posts: 6,242
Registered: ‎08-16-2012
0

Re: Discover It Balance Transfer Question

+1@asteroid...

what I will do a lot of times is...

use my 0% apr on purchases and toss my cash at whatever debt I'm trying to pay off..

you basically do a bt, but you avoid the fee :-)

Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Regular Contributor
cowboyguy
Posts: 197
Registered: ‎07-26-2012
0

Re: Discover It Balance Transfer Question

But isn't the intro APR only for 6 months while the BT is for 18 months?

Walmart Discover $10,000... Chase SW $8,500... Freedom $7,000... CSP $6,000... Amex Delta $3,000... Amex BCP $2,000... Local CU $1,500...
Senior Contributor
youngandcreditwrthy
Posts: 6,242
Registered: ‎08-16-2012
0

Re: Discover It Balance Transfer Question

That's why you get a card with equal bt and purchase 0% apr periods!

Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Regular Contributor
cowboyguy
Posts: 197
Registered: ‎07-26-2012
0

Re: Discover It Balance Transfer Question

[ Edited ]

So Discover It isn't THE card for me then?

Walmart Discover $10,000... Chase SW $8,500... Freedom $7,000... CSP $6,000... Amex Delta $3,000... Amex BCP $2,000... Local CU $1,500...
Senior Contributor
youngandcreditwrthy
Posts: 6,242
Registered: ‎08-16-2012
0

Re: Discover It Balance Transfer Question

it would be if you had the 15 mos 0% on purchases and bts...

Chase Freedom has that :-)

Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Regular Contributor
cowboyguy
Posts: 197
Registered: ‎07-26-2012
0

Re: Discover It Balance Transfer Question

Ok I'm gonna go for Freedom then.

 

The only thing concerning me is that my credit score will go down as a result of increased utilization.

Walmart Discover $10,000... Chase SW $8,500... Freedom $7,000... CSP $6,000... Amex Delta $3,000... Amex BCP $2,000... Local CU $1,500...

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}