How badly have I messed up with this Discover BT?

[delaney1]

I did a Discover BT of $12000 a month ago. I purposely locked the card to make sure it wasn't used. Well, today a recurring charge for a membership I signed up for a year ago went through. I had no idea it was a recurring charge, or I would have put a reminder to cancel it on my phone. I've reached out to the company to cancel, and get a refund for the $90 charge.

Yes, I know interest will be charged on new purchases, so have I totally ruined this BT, or can I pay $800 by the due date. This would cover the minimum due($250) and then I'm assuming the $90 charge would be covered as well, before the refund is issued. So, I'd be charged a minimal interest fee, but still keep the BT promotion.  Is this a viable option or is that $12000 going to start to accrue interest as well? I could kick myself lol.

[SouthJamaica]

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@delaney1 wrote:

I did a Discover BT of $12000 a month ago. I purposely locked the card to make sure it wasn't used. Well, today a recurring charge for a membership I signed up for a year ago went through. I had no idea it was a recurring charge, or I would have put a reminder to cancel it on my phone. I've reached out to the company to cancel, and get a refund for the $90 charge.

Yes, I know interest will be charged on new purchases, so have I totally ruined this BT, or can I pay $800 by the due date. This would cover the minimum due($250) and then I'm assuming the $90 charge would be covered as well, before the refund is issued. So, I'd be charged a minimal interest fee, but still keep the BT promotion.  Is this a viable option or is that $12000 going to start to accrue interest as well? I could kick myself lol.

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If you make your minimum payment plus $100 I don't think this little mistake will affect your balance transfer interest.

[Remedios]

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@delaney1 wrote:

I did a Discover BT of $12000 a month ago. I purposely locked the card to make sure it wasn't used. Well, today a recurring charge for a membership I signed up for a year ago went through. I had no idea it was a recurring charge, or I would have put a reminder to cancel it on my phone. I've reached out to the company to cancel, and get a refund for the $90 charge.

Yes, I know interest will be charged on new purchases, so have I totally ruined this BT, or can I pay $800 by the due date. This would cover the minimum due($250) and then I'm assuming the $90 charge would be covered as well, before the refund is issued. So, I'd be charged a minimal interest fee, but still keep the BT promotion.  Is this a viable option or is that $12000 going to start to accrue interest as well? I could kick myself lol.

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You didn't ruin the promo, but what do you mean by "issuing refund"?

If your balance is $12,000.00 and you pay $800.00, why would there be a refund?  

[delaney1]

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@SouthJamaica wrote:

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@delaney1 wrote:

I did a Discover BT of $12000 a month ago. I purposely locked the card to make sure it wasn't used. Well, today a recurring charge for a membership I signed up for a year ago went through. I had no idea it was a recurring charge, or I would have put a reminder to cancel it on my phone. I've reached out to the company to cancel, and get a refund for the $90 charge.

Yes, I know interest will be charged on new purchases, so have I totally ruined this BT, or can I pay $800 by the due date. This would cover the minimum due($250) and then I'm assuming the $90 charge would be covered as well, before the refund is issued. So, I'd be charged a minimal interest fee, but still keep the BT promotion.  Is this a viable option or is that $12000 going to start to accrue interest as well? I could kick myself lol.

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If you make your minimum payment plus $100 I don't think this little mistake will affect your balance transfer interest.

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I hope so! $800nwas just a number I threw out. Im going to actually pay more, to have the BT paid off in the 14 mo promotion period. Thanks for your response!

[SUPERSQUID]

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@delaney1 wrote:

I did a Discover BT of $12000 a month ago. I purposely locked the card to make sure it wasn't used. Well, today a recurring charge for a membership I signed up for a year ago went through. I had no idea it was a recurring charge, or I would have put a reminder to cancel it on my phone. I've reached out to the company to cancel, and get a refund for the $90 charge.

Yes, I know interest will be charged on new purchases, so have I totally ruined this BT, or can I pay $800 by the due date. This would cover the minimum due($250) and then I'm assuming the $90 charge would be covered as well, before the refund is issued. So, I'd be charged a minimal interest fee, but still keep the BT promotion.  Is this a viable option or is that $12000 going to start to accrue interest as well? I could kick myself lol.

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Discover keeps different catagories on your account for purchases and balance transfers. How they work - The highest interest balance is credited first with payments, so lets say i have a bt for 5k and i purchase 200, lets say i make a payment of 100, then it will look like this after the payment

bt balance will still be 5k

purchase balance will now be 100 plus interest..

if you look closely at your statement you can see exactly what you owe in the 2 different catagories..

most new discover cards have a 15 month zero int bt offer and at the same time a 12 month zero int on purchases.

your purchase wont affect the bt agreement however your payment will go towards purchases first

[delaney1]

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@Remedios wrote:

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@delaney1 wrote:

I did a Discover BT of $12000 a month ago. I purposely locked the card to make sure it wasn't used. Well, today a recurring charge for a membership I signed up for a year ago went through. I had no idea it was a recurring charge, or I would have put a reminder to cancel it on my phone. I've reached out to the company to cancel, and get a refund for the $90 charge.

Yes, I know interest will be charged on new purchases, so have I totally ruined this BT, or can I pay $800 by the due date. This would cover the minimum due($250) and then I'm assuming the $90 charge would be covered as well, before the refund is issued. So, I'd be charged a minimal interest fee, but still keep the BT promotion.  Is this a viable option or is that $12000 going to start to accrue interest as well? I could kick myself lol.

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You didn't ruin the promo, but what do you mean by "issuing refund"?

If your balance is $12,000.00 and you pay $800.00, why would there be a refund?  

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Since I'm not interested in another yearly membership, Im going to ask for a refund from the company that charged my card for another year of membership. I'm assuming that even if that charge is refunded, that will still trigger interest charges or is that incorrect? Maybe I'm getting mixed up with new charges after a BT versus cash advance fees since CA fees trigger interest immediately upon posting.

[delaney1]

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@SUPERSQUID wrote:

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@delaney1 wrote:

I did a Discover BT of $12000 a month ago. I purposely locked the card to make sure it wasn't used. Well, today a recurring charge for a membership I signed up for a year ago went through. I had no idea it was a recurring charge, or I would have put a reminder to cancel it on my phone. I've reached out to the company to cancel, and get a refund for the $90 charge.

Yes, I know interest will be charged on new purchases, so have I totally ruined this BT, or can I pay $800 by the due date. This would cover the minimum due($250) and then I'm assuming the $90 charge would be covered as well, before the refund is issued. So, I'd be charged a minimal interest fee, but still keep the BT promotion.  Is this a viable option or is that $12000 going to start to accrue interest as well? I could kick myself lol.

---

Discover keeps different catagories on your account for purchases and balance transfers. How they work - The highest interest balance is credited first with payments, so lets say i have a bt for 5k and i purchase 200, lets say i make a payment of 100, then it will look like this after the payment

bt balance will still be 5k

purchase balance will now be 100 plus interest..

if you look closely at your statement you can see exactly what you owe in the 2 different catagories..

most new discover cards have a 15 month zero int bt offer and at the same time a 12 month zero int on purchases.

your purchase wont affect the bt agreement however your payment will go towards purchases first

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Thanks, I'm familiar with how Discover separates categories, but this is not a new Discover card.

[Remedios]

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@delaney1 wrote:

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@Remedios wrote:

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@delaney1 wrote:

I did a Discover BT of $12000 a month ago. I purposely locked the card to make sure it wasn't used. Well, today a recurring charge for a membership I signed up for a year ago went through. I had no idea it was a recurring charge, or I would have put a reminder to cancel it on my phone. I've reached out to the company to cancel, and get a refund for the $90 charge.

Yes, I know interest will be charged on new purchases, so have I totally ruined this BT, or can I pay $800 by the due date. This would cover the minimum due($250) and then I'm assuming the $90 charge would be covered as well, before the refund is issued. So, I'd be charged a minimal interest fee, but still keep the BT promotion.  Is this a viable option or is that $12000 going to start to accrue interest as well? I could kick myself lol.

---

You didn't ruin the promo, but what do you mean by "issuing refund"?

If your balance is $12,000.00 and you pay $800.00, why would there be a refund?  

---

Since I'm not interested in another yearly membership, Im going to ask for a refund from the company that charged my card for another year of membership. I'm assuming that even if that charge is refunded, that will still trigger interest charges or is that incorrect? Maybe I'm getting mixed up with new charges after a BT versus cash advance fees since CA fees trigger interest immediately upon posting.

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Thanks for clarification

CA will trigger interest but so will new purchases when 0% only applies to BT. 

With extra payment, it will work out just fine so you don't have to worry about ruining BT promo.

I have no idea how a refund would be treated. It could be applied as a credit to your account versus charge reversal. 

I'm now curious myself 

[delaney1]

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@Remedios wrote:

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@delaney1 wrote:

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@Remedios wrote:

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@delaney1 wrote:

I did a Discover BT of $12000 a month ago. I purposely locked the card to make sure it wasn't used. Well, today a recurring charge for a membership I signed up for a year ago went through. I had no idea it was a recurring charge, or I would have put a reminder to cancel it on my phone. I've reached out to the company to cancel, and get a refund for the $90 charge.

Yes, I know interest will be charged on new purchases, so have I totally ruined this BT, or can I pay $800 by the due date. This would cover the minimum due($250) and then I'm assuming the $90 charge would be covered as well, before the refund is issued. So, I'd be charged a minimal interest fee, but still keep the BT promotion.  Is this a viable option or is that $12000 going to start to accrue interest as well? I could kick myself lol.

---

You didn't ruin the promo, but what do you mean by "issuing refund"?

If your balance is $12,000.00 and you pay $800.00, why would there be a refund?  

---

Since I'm not interested in another yearly membership, Im going to ask for a refund from the company that charged my card for another year of membership. I'm assuming that even if that charge is refunded, that will still trigger interest charges or is that incorrect? Maybe I'm getting mixed up with new charges after a BT versus cash advance fees since CA fees trigger interest immediately upon posting.

---

Thanks for clarification

CA will trigger interest but so will new purchases when 0% only applies to BT. 

With extra payment, it will work out just fine so you don't have to worry about ruining BT promo.

I have no idea how a refund would be treated. It could be applied as a credit to your account versus charge reversal. 

I'm now curious myself 

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Thank you!