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Hi my FICO posters:
Have any of you decided to escape from Discover's charging fees at every turn by doing a balance transfer? What issues did you encounter? How long did it take to complete?
What fees?
The length of time it would take to complete a balance transfer depends on who the balance is being transferred to. They are the ones doing the work. I did a BT to a new BofA card and it was completed the instant they opened my account.
Be careful balance transferring from Discover. My Mom did this last year and they lowered her CL by 50% after the balance was transferred out. Apparently they would rather make revenue on a revolving balance....
If the credit available on your Discover is not important to you, go ahead and balance transfer the balance. Don't do it if you don't want to lose your credit limit with them.
Calicurli wrote:
Hi my FICO posters:
Have any of you decided to escape from Discover's charging fees at every turn by doing a balance transfer? What issues did you encounter? How long did it take to complete?