Question about Discover CLI/BT strategy:
My discover card is currently under 50%. The balance transfer intro rate is expiring soon.
Two weeks before it expires, I'm planning to transfer the Discover balance over to another card which has 0 BT fees.
And then use the *new* discover BT offer to transfer from the other card back to Discover.
(I did this before and it worked great.)
1. The current "new" Discover offer is not great - only 10 months, probably the shortest they've ever offered.
Every other time I've let it expire, they've offered me a new one immediately.
But this time, when I'm actually planning to use it (so I can get 0% without opening a new card), it's only 10 months instead of 12 or 15.
My sense is to just take the 10 months, instead of letting it expire and then maybe not getting a new offer and having to scramble to move the balance elsewhere. On track?
2. It occured to me that I could ask for a CLI from Discover and then have more space to use to transfer other balances to this card also.
Should I ask for the CLI increase *while* the Discover card has a balance?
or after I transfer the Discover card balance and it has 0% utilization?
As always I look forward to your wisdom and insight here
Also celebrating that these are much more fun questions than when I started this thread!!!!
I'm ok with your doing a no-fee balance transfer to pay off the Discover balance, since the jig is up in 2 weeks anyway, but I don't think you should then take out a new Discover CLI -- and pay a new balance transfer fee -- to move it back.
Hello @SouthJamaica, I'm always glad to hear your thoughts!
Just to clarify, I have to move the balance either way. I can temporarily move it from Discover, to the card with no BT fees, but I don't have any cards that have no BT fees *and* a 0% BT offer. So the balance will be going back to Discover either way.
Just a question of if it's better to request the CLI from Discover before or after moving the balance temporarily off (which I have to do either way).
Also I figure since Discover keeps giving me 0% BT offers, I should be using them as much as I can, since it's a way to get 0% without having to apply for new cards, and has a $13.5k line, so room to actually get stuff done and stay under 47% utilization.
Thank you for watching out for me!
You've done well, Padawan.
I'm so proud! ****sniff****
@tcbofade awww thank you! I am laughing out loud. I'm glad that you're proud! You've taught me well