Discover Balance Transfer Q

[Anonymous]

I've been looking this up, and I think I have everything down except one point.

I have a 0% BT offer on Disco that I may take advantage of in a few months (assuming it is still there). So, let's say I BT $1500 over. It would be the 3% up front, then 0 for 12 months. The language on what happens should I make a charge during that period is where I get a little unclear.

Am I reading it correctly to assume that if I make a purchase, then make a payment equal to that amount+minimum due, I will begin paying interest on the remainder? In other words, to avoid interest with a new purchase, would I have to pay off the ENTIRE balance on that statement?

[pizza1]

yes. its always best to NOT use the current card you have a BT on, for regular purchases. Leave that card strictly the BT card.

[AverageJoesCredit]

Correct. The only time you should use a card with a bt on it is if you have both 0% apr on both purchases and bts. Even then pif any charges you place when they post to avoid confusion snd complications, imo.

[Anonymous]

uhm- the reason that so many people believe that is because the wording is confusing

and people on this board have heard it so many times from others on this board.

The truth is that you can charge purchases on cards that have balance transfers on them,

without having to pay interest on the purchase until your entire balance is payed in full. (including BT's)

It is true that you cannot avoid the interest on the purchase that would accrue between the purchase date

and the date of payment after the purchase appears on the next statement though.

At that point, Any amount over the minimum payment will be applied to your highest balance apr.

[Dalmus]

I make purchases on cards with transfers on them all the time... The wording makes it look ominous, like you're going to lose your special rate, but really all you need to do is pay of the new purchases ASAP, because that is what you will pay interest on. Pay enough to cover the minimum payment plus the new purchases, and you'll past very little in interest, if any at all, for that statement period.