Amazing Balance Transfer offer from Discover IT.

[Anonymous]

i was looking into transferring a high interest balance to another card.  discover has a healthy limit so i was curious on their balance tranfer. well i saw i had 2 offers.  1.- 0% interest 12 month 3% transfer fee  2. - 4.99% interest 0% transfer fee.   so i decided on 2 since it gave me more months.  When i redeemed it it gave me 2 options   pay off loan/card   or deposit into bank account.   called discover and apparently you can borrow the money instead of just transfering balances from other cards.  borrowed $1500 and i have 18 months to pay it off on 4.99% APR  makes it easy cause i can distribute to other cards.

lady also said i can use my discover to pay bills. bills that cant usually be paid with CC's

[K-in-Boston]

One of the things I love about Discover is the never-ending 0% with 3% fee or 4.99% with no fee balance transfer offers. I just wish they were a little more forthcoming with usable credit lines for the offers.

[HeavenOhio]

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@Anonymous wrote:

lady also said i can use my discover to pay bills. bills that cant usually be paid with CC's

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How does that work?

[Anonymous]

im not sure on the bills part. she just told me that i was kinda shocked.  didnt continue on it since i didnt need to do that..     ill call and find out though.

[RadioRob]

Typically they send you BT checks.  You can make that check payable to yourself and deposit it into your normal checking account.  Take the proceeds and pay whatever you like. 

[AverageJoesCredit]

Lol K, Discovers never ending bt offers apparently do run out. I no longer have these offers that were showing since day 1 of my account and i have a real sneaky intuition they aint coming back

[NRB525]

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@AverageJoesCredit wrote:
Lol K, Discovers never ending bt offers apparently do run out. I no longer have these offers that were showing since day 1 of my account and i have a real sneaky intuition they aint coming back

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How long have you had the card? How long since you have seen BT offers? I have noticed they sometimes disappear, but return after a short time. You are looking online, not waiting for paper mailers, correct?

If you need a BT offer just call them up and inquire whether one is available. They may say no, but it is possible that wakes up the algorithm and you start seeing them. 

The 4.99% offers are nice because you can pay them over a few months without a larger 3% fee. 

[Anonymous]

They also offer cash up to your limit to be deposited into your checking account like the OP said. Then you can pay whoever you want. It's much easier than sitting around waiting for BT checks. Don't you think....

I was lucky enough to get a $20000 SL with Disco. It's a great option if I ever needed a short term loan at 4.99%.

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@RadioRob wrote:

Typically they send you BT checks.  You can make that check payable to yourself and deposit it into your normal checking account.  Take the proceeds and pay whatever you like. 

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