Discover Balance Transfers - This verbiage troubles me.

[ReVeLaTeD]

Need some reassurance from those in the know.

So I'm looking at Discover's balance transfer options as I consider doing it for two of my cards.  I've never bothered with balance transfers, so it's somewhat new to me, but I was under the impression that it was basically "we're going to cut a check for $X.xx and send it to that company, then you pay us back".  However the Discover web app has a nice little sentence beneath the form that reads:

"Your use of this feature is subject to our credit review, which may include obtaining third-party credit reports."

Those more educated than I regarding this, can you confirm they're pulling credit just to be able to essentially withdraw cash from an account I've already been credit approved for?

[Anonymous]

Well, I've never used that service.   They always send me the BT offers in the mail with checks ... never used it. 

I did BT only once at the time of activation of my Discover More from other cc (was going to end the 0% APR) over the phone.

• What is your CL?
• How much did you try to do BT?   *It may be a lot, that's why it could be a HP.
• Did you know that you have to pay BT Fee?  
• Is it worth to do BT even you pays BT Fee?

[ReVeLaTeD]

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@Anonymous wrote:

Well, I've never used that service.   They always send me the BT offers in the mail with checks ... never used it. 

I did BT only once at the time of activation of my Discover More from other cc (was going to end the 0% APR) over the phone.

• What is your CL? $1700
• How much did you try to do BT?   *It may be a lot, that's why it could be a HP. Haven't even got that far.  This is on the first page before I even enter information.
• Did you know that you have to pay BT Fee?  No
• Is it worth to do BT even you pays BT Fee? Not really

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[Anonymous]

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@ReVeLaTeD wrote:

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@Anonymous wrote:

Well, I've never used that service.   They always send me the BT offers in the mail with checks ... never used it. 

I did BT only once at the time of activation of my Discover More from other cc (was going to end the 0% APR) over the phone.

• What is your CL? $1700
• How much did you try to do BT?   *It may be a lot, that's why it could be a HP. Haven't even got that far.  This is on the first page before I even enter information. 
• Did you know that you have to pay BT Fee?  No
• Is it worth to do BT even you pays BT Fee? Not really

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When I clicked "Transfer Balances" tub, it shows my BT Offer as shown in below.  

I see it ... it is on the bottom of the offer information in the small print.   With my understanding, it is not saying the Discover will do HP.

 You have to calculate how much you will able to save the money before you do the BT.

Transfer Balances

Save money with a low rate on balance transfers.

Transfer your higher rate balances today and pay them down faster — you’ll even save money on interest.

Your Available Credit

$___________

9.99% APR for 12 months

Reply by 06/10/11

Offer Details

Select Offer  

Promotional Balance Transfer APR

9.99% for 12 months after the first Balance Transfer posts to your account under this offer, then your purchase APR of 10.99% will apply.

Balance Transfer Fee

5.0% with a minimum of $10.00 and no maximum for each balance transfer.

Your use of this feature is subject to our credit review, which may include obtaining third-party credit reports. 

[ReVeLaTeD]

Experience has taught me that "subject to" often means they'll do it.  I don't even want to chance it.

My APR for 2011 is 3.99%.  So it's not a cost issue.  I mean I'm talking a total of around $700, it's not a big deal, I have the cash.  Just figured I'd start using the card is all.  Oh well.