topic Discover it vs BoA Balance Transfer cards? in Credit Card Applications

Discover it vs BoA Balance Transfer cards?

Anonymous — Sat, 09 Mar 2019 20:23:56 GMT

Hello,

After receiving some help in January, I have been working on improving my score/utilization rate. (I have been doing well this past year at a 70 point increase! ) I want the card purely for the balance transfer and I have other rewards cards. Right now I am just working on getting my credit score back up to where it needs to be.

I am looking for opinions on if these two cards or another one I may not have thought of would be good for a balance transfer I want to do in May. I did get some preapporvals for both of them (Discover it BT and BoA regular? one--its white). I am also wondering if I should hold off until my next payment in June, as I am worried about my rate still being too high on my cap1 card come May (36%). The interest is just so freaking high, even at paying a little over double the min payment I'm not getting very far compared to what I would like....maybe I'm just impatient lol

Right now I have this:

Experian FICO 8: 701 / Trans FICO 8: 695

CareCredit: $1967.72 / 7.2K (I don't plan on using a BT great promo)
Chase: $163 / 2k (hoping will be gone by May)

Cap1: $1780/ 3.3K (hoping will be down to abt 1200 by May) <--want to BT

Cabelas: $0/2k

Kohls: $0/4k

Re: Discover it vs BoA Balance Transfer cards?

pinkandgrey — Sat, 09 Mar 2019 23:37:14 GMT

Check the prequal for Discover. I think that would be a safer bet than the Bank Americard. Plus, the cashback Discover It card will still be useful long after your BT. And I could also see a higher SL with the Disco. IMO the choice is clear. But check those prequals. Good luck!

Re: Discover it vs BoA Balance Transfer cards?

Gmood1 — Sun, 10 Mar 2019 01:04:48 GMT

Both were great at BT's, I've used both. Bofa was cut and dry and the BT processed quickly. Discover's was nearly as fast. Only issue I had with them, they kept contacting me. Three times in one week by phone and once by email. They wanted to verify it was me that did the transfer.

Citi is another that was extremely fast in processing a transfer. Good luck with whom ever you decide to go with.

All three allow you to transfer the cash straight to your bank account instead of relying on checks to be mailed. Then you pay the bills directly from your bank account.