@AzCreditGuy wrote:
I am currently on a 0% APR balance transfer that is set to expire in Aug, I just got another offer for 0% APR balance transfer for 12 months but instead of the transfer fee being 3% its now 5% and the monthly payments are now around $90 ($1,500) instead of $50 for a $2,970 balance I have.
I think Discover doesnt understand I wouldnt put a balance transfer on top of balance that would end at 0% APR, did that before and learned my lesson....Seems the CC companies are itching towards higher monthly payments now
I hate to break it to you, but this "itch" started last year for Discover BT offers.
Also, Disco perfectly "understands" BTs, a lot of their business is predicated on them.
Your payment is not $50.00. That's just minimum you have to pay. If you are making minimum payments, they have every reason to believe you will either end up doing another BT, or end up paying interest if you cannot find another card to BT to.
You will end up paying fees till you're done, and if you are making minimum payments, its going to take you many years, those fees are going to add up, so if that's the case, put in more effort into paying off BT, and less into thinking about the amount of next fee if you are looking to save the money
Making minimum payments (or close to it) was probably the reason behind Barclay balance chasing, and Discover while more tolerant, is no stranger to those
