You have over a year to make interest-free balance transfers.
Check out Discover cards if you’re looking to make a balance transfer, want an intro APR, no annual fees and rewards.
Compare Discover balance transfer credit cards
At the time of this writing, Discover offers three cards with balance transfer intro APRs:
A few cards, such as the Discover it® Student Cash Back and Discover it® Business Card, offer intro APRs only on purchases.
What are the benefits of a balance transfer with Discover?
Here’s why you might want to transfer a balance with Discover:
Solid intro APRs
Discover currently offers intro APR periods on purchases and balance transfers that are slightly longer than you might find with other comparable credit cards.
Earn rewards
With other providers, you might find few benefits beyond intro APRs. However, select Discover cards offer balance transfer intro APRs and cash back. This provides incentive to keep the card even after your intro APR expires.
No annual fee
None of Discover’s cards have annual fees.
Relatively long period to qualify for an intro APR
Typically, you have around 90 days to transfer balances that qualify for the intro APR.
What are the drawbacks of a balance transfer with Discover?
Here’s why Discover might be the wrong balance transfer provider for you:
You’ll find better intro APRs elsewhere
For example, the Chase Freedom Unlimited® offers a 0% intro APR on purchases and balance transfers for the first 15 months from account opening. After that, you’ll get a 17.24% to 25.99% variable APR.
The Citi Simplicity® Card and Citi® Diamond Preferred® Card are two of the best balance transfer cards on the market.
No card offers an intro APR and $0 transfer fees for a limited time
For this combo, check out products such as the Chase Slate® credit card and BankAmericard® Credit Card.
No travel card with a balance transfer intro APR
The Discover it® Miles Travel Credit Card has an intro APR only for purchases.
Other providers offer travel cards with balance transfer intro APRs. Barclaycard, for example, has a wide collection of cobranded travel cards with balance transfer promotions.
Your balance transfer might take a while
You’ll need to wait a minimum of 14 days for your balance transfer to process.
What debts are eligible for a balance transfer with Discover?
- Non-Discover credit cards
- Specialty store and gas cards
- School or auto loans
- Discover credit cards
Can I transfer balances to another Discover card?
No. This type of policy is standard across the credit card industry.
Eligibility requirements
You can apply for a Discover credit card if:
- You’re at least 18 years old.
- You’re a United States resident.
- You have a valid Social Security number or Individual Taxpayer Identification Number.
What do I need to apply?
Have the following information on hand to apply for a Discover card:
- Full name
- Mailing address, email address and phone number
- Date of birth and Social Security number
- Employment status, total annual gross income, and monthly housing or rent payment
- Optional: Balance transfer information. This includes your creditor’s name, your account number with the creditor and the amount you want to transfer.
How to apply for a balance transfer with Discover
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Pick a balance transfer card and check its details.
Scroll down the Discover product page to see the card’s intro APR, ongoing APR and the balance transfer fee. -
Apply for the card.
On the application, “Looking for a Balance Transfer.” You can request up to three balance transfers.As you input your transfer amounts, Discover will calculate your fee.
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Pick a balance transfer card and check its details.
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Wait for your balance transfer to complete.
Keep making payments to your creditors as you wait for your balance transfer to complete. This will help you avoid late fees and drops in your credit score.
How long will it take to complete a balance transfer with Discover?
According to Discover, it’ll take at least 14 days for a balance transfer to complete.
I got the card. Now what?
- Confirm with Discover that your balance transfer is complete. When you receive confirmation, make necessary arrangements with your previous creditors to close your old accounts.
- Make payments on time. Consider setting up automatic payments so you’re never late and don’t risk losing your intro APR.
- Contact customer support. Call 800-347-2683 if you have questions about your account. You can also message an agent via live chat on the Discover website or tweet the bank @Discover.
Bottom line
Discover can be a good option if you want a balance transfer promotion and rewards.
If you’re not sure a Discover card is best for your balance transfer, consider cards from other providers such as Barclaycard and Chase.
