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Frequent Contributor
Posts: 259
Registered: ‎04-16-2012
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New discover it balance transfer help

I set up my online account for my new card and I got to the BT part but it says none are available. My welcome info tells me I have 0% apr on balance transfers for 10 months.....
Regular Contributor
Posts: 181
Registered: ‎07-09-2011
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Re: New discover it balance transfer help

Just call in and tell them you want to do a balance transfer. My account is the same way, can't access online transfers but was able to do two by calling them. They are really fast with transfers because they process them via ACH transfers. All I needed was the insitution name and account number, they had all the other info even for my tiny local CU.

Mega Contributor
Posts: 15,442
Registered: ‎04-09-2011
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Re: New discover it balance transfer help

Do they ask any questions when you do a BT on the phone? Id be uncomfortable personally.



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Epic Contributor
Posts: 24,701
Registered: ‎10-23-2007
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Re: New discover it balance transfer help

Yes, Discover is a little weird, you can't do it online when the account is first open and although we had done 2 of ours while applying Discover did not actually authorize and submit them until the account had been open for 15 days.  (They claimed a credit law thing) not true but either way we added a 3rd BT at about day 12 and on day 15 all 3 authorized and were sent right away.  Just be sure that you don't go spending away and think they have held that BT for you... Ours was not done until day 15.

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Regular Contributor
Posts: 181
Registered: ‎07-09-2011
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Re: New discover it balance transfer help

[ Edited ]

LS2982 wrote:
Do they ask any questions when you do a BT on the phone? Id be uncomfortable personally.

They don't ask any questions or sound judgmental in any way, which made me feel better. I hate talking on the phone and asking for two balance transfers made me feel slightly like a loser but both times I called the CSRs were chatty and friendly. They both also asked me if I wanted to process any additional transfers by pointing out I can also pay medical bills (i.e., doctors and hospitals) via balance transfers. I declined to do any more but am really glad I called.

 

I waited to do both transfers until after I had charged some things and then made payments.

 

ETA: Both receiving banks received their funds withing two days of me calling. Pretty amazing.

Valued Contributor
Posts: 1,986
Registered: ‎01-24-2012
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Re: New discover it balance transfer help

You shouldn't ever feel like a loser or be embarrassed to do a balance transfer. They ask you every time you speak with them so they must really want people to do it.

Regular Contributor
Posts: 181
Registered: ‎07-09-2011
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Re: New discover it balance transfer help


navigatethis12 wrote:

You shouldn't ever feel like a loser or be embarrassed to do a balance transfer. They ask you every time you speak with them so they must really want people to do it.


I know you are right. Unfortunately, my past credit problems were created by saying "I'll just worry about the payment later" and never getting to the later part. I have been doing so well for about two years but this year my income took a hit with no raise, no bonus, higher health insurance costs and taxes. It's a struggle and I didn't expect to not be able to pay off these balances that I had to transfer. My only goal now this year is to not pay any interest, a big change from where I thought I would be. I'm feeling guilty that I appear to be the same irresponsible person I was before.

Mega Contributor
Posts: 15,442
Registered: ‎04-09-2011
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Re: New discover it balance transfer help

It takes someone strong to admit to past mistakes. As long ad you recognize what you did wrong In the past and take steps to make sure it doesn't happen again you gave nothing to be embarrassed about.



Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
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Regular Contributor
Posts: 181
Registered: ‎07-09-2011
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Re: New discover it balance transfer help


LS2982 wrote:
It takes someone strong to admit to past mistakes. As long ad you recognize what you did wrong In the past and take steps to make sure it doesn't happen again you gave nothing to be embarrassed about.

Thank you for the kind words. It helps.

Established Contributor
Posts: 955
Registered: ‎02-02-2013
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Re: New discover it balance transfer help

[ Edited ]
There are a myriad of perfectly fine reasons to do a BT. Not the least of which is to get a better rate.
I have never done one, but even a mortgage refi to a lower rate with a different lender could be considered a "BT" of sorts.
People do them all the time. There is no shame in managing one' s finances in order to gain an advantage or reduce costs.
Your good credit puts the BT tool into your personal toolbox. If you want to use it, by all means do so, but do so knowing that doing the right thing is what put that tool there in the first place. :smileyhappy:

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