I have balance on my Cap1 QS card of $2,464.53 with a $9500 CL and has paid $157.18 in interest over the last 3 months. Just got my Discover IT with a $6600 SL. There is a BT offer for 3% transfer fee and $00% Intro APR for 12 months. Did the calculation and will save approx $487.51over your 12 months (plan on paying it off way before) promo period. Do I take advantage of it and just pay the $78.65 BT fee? How will it affect my scores, Disco util? Right now my overall util is at 10% and with all the new cards and recent CLI, it's going to drop even more.
Might seem like a no brainer but I've been afraid of pulling the BT trigger lol
Thanks!
@DoroLucky wrote:I have balance on my Cap1 QS card of $2,464.53 with a $9500 CL and has paid $157.18 in interest over the last 3 months. Just got my Discover IT with a $6600 SL. There is a BT offer for 3% transfer fee and $00% Intro APR for 12 months. Did the calculation and will save approx $487.51over your 12 months (plan on paying it off way before) promo period. Do I take advantage of it and just pay the $78.65 BT fee? How will it affect my scores, Disco util? Right now my overall util is at 10% and with all the new cards and recent CLI, it's going to drop even more.
Might seem like a no brainer but I've been afraid of pulling the BT trigger lol
Thanks!
First of all, congrats on the new Discover approval! 
As for your question, it seems like a no-brainer to me as well. Actually, I did exactly what you're considering, and it worked out quite well. I'll also add that since you're also on a new account 0% promo for 12 months (most likely - double check) it will work out extremely well, since you'll be able to continue using your card for the 5% categories (and anything else, of course) without having to pay interest.
Unlike Capital One where you can pay for new charges separately from the balance transfer (and not have to pay interest on new charges) Discover doesn't have this option. The cool thing is that as long as you're on the new account 0% promo, you don't need it anyway! 
In my own cases my FICO wasn't impacted negatively, and has actually gone up from having more available credit. Also, I've been able to get two modest ($500) CLIs with my Discover, even though I'm currently carrying a balance (which honestly surprised me... I figured they would say no).
Hopefully some of the above will help you make your decision... good luck whatever you decide! 
Yes, I have a promotional rate:
Your promotional purchase APR of 0.0% is set to expire as of April 2nd 2017. When the promotional rate expires, only the remaining balance will be subject to your standard purchase rate and begin to accrue interest from that day forward. Currently, that is a variable 20.24%
Your promotional purchase APR of 0.0% is set to expire as of April 2nd 2017. When the promotional rate expires, only the remaining balance will be subject to your standard purchase rate and begin to accrue interest from that day forward. Currently, that is a variable 20.24%
And thanks for your solid advice. Not sure why I have been afraid to do it knowing it was the right thing to do. Guess I didn't want any suprises LOL
@DoroLucky wrote:
Yes, I have a promotional rate:
Your promotional purchase APR of 0.0% is set to expire as of April 2nd 2017. When the promotional rate expires, only the remaining balance will be subject to your standard purchase rate and begin to accrue interest from that day forward. Currently, that is a variable 20.24%
You're set then.
That's actually the same APR I got... they started me with a $5500 credit line, since increased to $6500. We have very similar circumstances!
@DoroLucky wrote:
And thanks for your solid advice. Not sure why I have been afraid to do it knowing it was the right thing to do. Guess I didn't want any suprises LOL
You're welcome!
One more 'hint'... my account was two months old when I did my BT, and a couple of days after I initiated it online they left me a VM for me to call them (I also had an email from them). I tried to log on their website before calling to see what was going on, but I was locked out (also locked out of the Android app). I called, and it turns out the BT had triggered a fraud block... they were extremely nice about it, and offered to redo my balance transfer on the spot (the request had been canceled) but I didn't have the address and account number with me, so I ended up just doing it myself online a second time later that day, which went through with no problems.
Most likely you won't have any trouble at all, but if something similar does come up, don't panic...just give them a call. It's slightly inconvenient, but no big deal.
(Side note: the 'hype' is real... they really are that nice to speak with.)
Thanks for all your help. BT just went through. Got an email right away saying it will be processed on the 14th day after account opened. My only concern is, my QS closes on the 4th. I hope it's transferred before then. I think I'll okay because I was approved on the 16th.
If i were you, i'd BT $2150 to discover to keep the utility on it less than 30%, pay rest cap1 balance off in a month or two.
There is no point to pay the 3% BT fee, then pay large portion of that balance right way, you are wastimg your money there.
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