cancel
Showing results for 
Search instead for 
Did you mean: 

Discover : No Balance Transfers for You [UPDATED]

tag
NRB525
Super Contributor

Re: Discover : No Balance Transfers for You

I also have the 2% 12 month offer. Have not seen that before. Still 4.99% 18 months as well. 

 

For a time a while ago I was also BTing amounts to Discover no-fee, then retransferring to reset BT offers. After a few months of this, my Discover BT offers went away for a short time, then returned. Since then I have done numerous small transfers to let the autopay of $333 per month pay them down on Discover. Nearly to the end of those, so now will have to consider a longer term transfer. I’ve got some Citi BT expiring soon. 

 

If you want to BT and use the rewards, you can ask for a 0% Purchses offer for 12 months. There is a reset period of 6 months before it can be offered again, but on an 18 month cycle it should be possible to combine BT with spend on Discover. 

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 31 of 50
pizza1
Community Leader
Super Contributor

Re: Discover : No Balance Transfers for You

I know that historically if you're currently in a "promo", like a 0% for 6-12 months on purchases, or a temporary lower apr, like from for example, 17% to 12% for a set number of months, you won't get any BT offers.

At least thats been the case for me. Im currently in a awesome 0%/12mo on purchases (and the card is not new either), and I have no offers either.

But I bet the moment my promo ends, I have BT offers the following month, and has also been historically for me as well. Just a thought....Smiley Wink

Message 32 of 50
gdale6
Moderator Emeritus

Re: Discover : No Balance Transfers for You


@UncleB wrote:

You guys made me curious, so I logged on and took a peek at my current offers:


DiscoBTPromo2018.png


This is the first time I can recall having a 12 month offer with a 2% fee - I think it was always 3% previously?

 

It was also a good reminder that I need to hop on chat and see about getting that APR reduced... I've not received a reduction in well over a year, so there should be something there (hopefully). 


Just checked mine only diff from this one is a 3% transfer fee on the 12 month offer.

Message 33 of 50
Anonymous
Not applicable

Re: Discover : No Balance Transfers for You


@gdale6 wrote:

@UncleB

 

It was also a good reminder that I need to hop on chat and see about getting that APR reduced... I've not received a reduction in well over a year, so there should be something there (hopefully). 


Just checked mine only diff from this one is a 3% transfer fee on the 12 month offer.


 gdale6 ... it is all about Discover Card love Smiley Very Happy Some of us just don't get as much!

Message 34 of 50
Anonymous
Not applicable

Re: Discover : No Balance Transfers for You

Just checked. I don't have a offer now either, however, I just used an offer recently and still have time to pay it back (carrying a balance currently). Perhaps that is why.

Message 35 of 50
kdm31091
Super Contributor

Re: Discover : No Balance Transfers for You

If one is doing a BT, my guess is the lender expects it to paid off slowly, or at least not immediately. So if you do a BT and then pay it off right away, all you've done is cost the lender money in processing it, and they really got nothing out of you. So, in their mind, why keep offering you BTs?

Message 36 of 50
Anonymous
Not applicable

Re: Discover : No Balance Transfers for You


@kdm31091 wrote:

If one is doing a BT, my guess is the lender expects it to paid off slowly, or at least not immediately. So if you do a BT and then pay it off right away, all you've done is cost the lender money in processing it, and they really got nothing out of you. So, in their mind, why keep offering you BTs?


Unless a person balance transfered close to their credit limit. In that case it always a good idea to pay it off fast before it hits on credit report.

Message 37 of 50
Anonymous
Not applicable

Re: Discover : No Balance Transfers for You


@SouthJamaica wrote:

Well there goes my theory. Discover hasn't just singled me out, it represents some kind of change in policy on balance transfers.

 

I'm putting the card in my sock drawer, but it will be interesting to see what Discover does next.

 

Since they're not offering me balance transfers, the CLI question becomes a moot point for me.

 

 

 


Blows the conspiracy theory Smiley Happy

Message 38 of 50
SouthJamaica
Mega Contributor

Re: Discover : No Balance Transfers for You

Today they offered a balance transfer: 0% interest, 12 month term, 3% fee.

 

It's as good as nothing to me, because I never pay balance transfer fees.

 

In the sock drawer she stays.

 

Too bad. They just gave me another huge $300 CLI, too Smiley Happy


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 39 of 50
AverageJoesCredit
Legendary Contributor

Re: Discover : No Balance Transfers for You

The nerve of Discover😜
Message 40 of 50
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.