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Multiple balance transfers on one Discover card?

Frequent Contributor

Re: Multiple balance transfers on one Discover card?

Each BT is separate. I love this about Discover.

Starting Score: 6/6/12: TU 585/EQ 472/ EX 561
Current Score: All 800's
Cap1 QS - $17k, Chase Southwest- $25k, Discover IT - $50k
Message 11 of 18
Mega Contributor

Re: Multiple balance transfers on one Discover card?

@Anonymous wrote:

I need some BT advice, please...


I have one BT (0%) on my Discover IT card, which will be paid off by mid-2020. Meanwhile, I've been getting more 0% BT offers for that same card. I have a store card balance that I'd love to transfer to Disco (to minimize my cash payment outlay over the holidays). But how would Disco treat the two BTs... as separate or lumped together? Are there any pitfalls I should be aware of?


Together, the BTs would bring that card to 21% util at the outset.


Thanks for your advice.


They would treat them as separate. The promotional balances and rates would appear at the bottom of the statement.


The only pitfall with Discover is the same one that would apply even if you had only one balance transfer: never make purchases with that card while you have a balance transfer balance outstanding. (unless of course you have a 0% purchase interest rate, which Discover just bestowed upon you Smiley Happy)

Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 12 of 18
Credit Mentor

Re: Multiple balance transfers on one Discover card?

@Anonymous wrote:

@K-in-Boston wrote:

Screen Shot 2019-11-22 at 11.52.26 PM.png

@Anonymous  I don't know if Discover has it listed anywhere on their website or not, but I have too much experience with Discover balance transfers (just apparently not enough experience with current credit limit) on this and another card.  The balance expiring in September still shows the full amount, while the balance expiring in June keeps going down by the payment amounts.  When I have had mixed 4.99% and 0.00% offers in the past, the minimum payment amount was applied to the 4.99% balance while the remainder of the payment was applied to the 0.00% amount.  This is my statement that closed 2 days ago.

I figured it was knowledge from personal experience. I just was wondering if it was written down somewhere. Thanks!

No problem!  And the bolded sentence above should be reversed.  Minimum to 0.00% amount and rest to 4.99% amount.




No matter what the CSR said, if you make a new purchase it does NOT affect your balance transfer APR.  You simply have no grace period if the previous statement balance was not paid in full and will accrue interest only on the purchase.  Had a $15,000 BT going a few years ago and a small household annual charge billed to the card.  There was like $1 of interest due in total; it would have been disastrous had that affected the BT APR.  There have also been times in the past where I would makes charges that got 5% back on Discover or BJ's card even when there was a BT because the rewards minus interest were still higher than rewards on other cards.  Not something to make a habit of, but again you've entered into an agreement with the card issuer when you do a BT that as long as you make payments on time that is the APR that will apply for a specific amount of time to that balance.

Message 13 of 18
Valued Contributor

Re: Multiple balance transfers on one Discover card?

I would just mention,  Discover loves use, even if its just a BT, after the second BT hits the card hit the love button, they may give more CLI love.  



Cards: Chase Southwest 20k & CSR 17k & CSP 10k & FNBO 30k Oregon Duck 5k, & AMEX BCP 32.5k & Amex Magnet 15k&amg; Hilton Surpass 7.5k & Delta Gold 12k & Zync NPSL, Fidelity AMEX 17k Commerce5.9k & Cash Forward 7.5k & Sams Club MC 20k, Paypal Extras MC 10k, Paypal Credit 7.25k CapOne Venture 15k, QS 2.5k, QS 750, Amazon 10k, Walmart 10k, Citi Simplicity 18k, Discover IT 23k and a nice stack of store cards.
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Message 14 of 18
Not applicable

Re: Multiple balance transfers on one Discover card?


@Anonymous wrote:

While I was on the line, I also confirmed that any purchases would reset the whole game, and interest would accrue on the full amount (purchases + BTs) unless I PIF everything. But then... the CSR said: "Not necessarily, not if you have a 0% offer for purchases" which she just happened to have to offer me, for 12 months. So I snapped it up.

Hey thanks for the heads up!

I usually only call in for a permenent APR drop. And never considered they would offer 0% on purcahse while a BT promo is going.

Message 15 of 18
Not applicable

Re: Multiple balance transfers on one Discover card?

I submitted the BT request this morning. The site says it may take up to 7 days to process; however, last time (July) the funds were in my checking account the very next day and I paid my Amex bill in full that same day.


Today's BT summary included this proviso regarding interest on purchases:


Balance Transfers and Interest on Purchases

If you usually pay for purchases in full each month to avoid interest,
transferring a balance will change that. You will be charged interest
on purchases unless you choose to pay your entire balance in full,
including any transferred balances, by the first payment due date.



Message 16 of 18
Legendary Contributor

Re: Multiple balance transfers on one Discover card?

Thats correct. The only thing that would change that statement would be if you had a 0% apr purchase promo at same time.
Message 17 of 18
Not applicable

Re: Multiple balance transfers on one Discover card?



I read you have experience with DISCOV BT, I could use  your help please. I dont have many CC and trying to grow. I have a CAP 1 CC at a huge problem of a balance of $11k/$12k CL. I have a Credit Union VISA with $3k CL at 50% uti, another CAP 1 CC with $500 with no balance. Now I decided to apply for DISCOV IT and with a overall 59% uti I was shocked and approved for $9k. Now my question is should I do a BT onto the new Disco for maybe $5k to help my huge CAP 1 card which I am also trying to get a CLI and  I am trying to bring down my uti which by just opening a new card gives me that but like I stated earlier trying to get more cards to build by profile. Was thinking just 1 more card. My scores are around 675-680, don't know how my new card will affect my score and if it's a good idea to apply for another card now? Have had 0 inq last two years for CC.

Message 18 of 18
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