Yeah, Saeren covered all the highlights lol. Just pay it down and everything will be good. Disco is very forgiving and will still give you your CLIs as long as you use the card responsibly. Disco also seems to like large amounts on the cards.
I'm new to Discover and this is my first balance txfer. My cl was 6500 and I transferred 5000 at 0% interest for 18 mos. If I don't use the card for purchases and just work to pay off this balance for a year does that count as inactivity. I don't want them to think I'm a risk with my utilization that high but I also don't want to not use the card either. I'm not familiar with Discover so not sure how exactly to balance getting down my balance and using the card to eventually grow with them and hopefully get cli in the future. Any insight or advice on how to manage my newly acquired Discover would be appreciated.
1. No that's not inactivity. They won't think you're a risk but the high percentage utilization (77%) will depress your FICO scores.
2. Do NOT use the card for purchases while you have the balance transfer out there. You will wind up paying interest on the purchases from day one... no grace period.
Thanks so much that's good to know that payments are considered activity. I know my credit score is going to take a hit but won't it balance itself out if now my QS is at 0 balance?
No it won't because individual card utilization is a distinct scoring factor. You lose points for having any one card at 30% or higher.