A balance transfer credit card can help you manage your debt by combining your credit card debt on one card, allowing you to track one monthly payment.
Transferring a balance from a credit card with a high interest rate to a Discover balance transfer credit card may lower the amount of money you spend on interest if the rate on the new card is lower than the existing card.
When it comes to balance transfer credit cards, a lower APR is usually the best. But also check how long your introductory APR lasts. After the intro period on your balance transfer rate is over, your standard purchase APR will apply to your credit card balance.
Does the card have an annual fee? Also look for the balance transfer fee for each balance transfer request for a fair deal on balance transfer credit cards.
Does the credit card company offer cash back rewards on purchases? Does your balance transfer card offer a welcome bonus to new cardmembers? And does that welcome bonus require you to spend a certain amount of money?
Look for a card issuer with great customer service, helpful alerts, and more benefits beyond just the balance transfer APR. So you'll know it's a credit card you'll want to keep.
If you transfer a balance from a high-interest credit card to a Discover balance transfer card using an introductory APR on balance transfers, you can use the money you save on interest to pay down your debt.
Low Intro APR
More Discover Benefits
x% Intro APR† for x months on purchases and balance transfers. x% Intro Balance Transfer Fee until . Then x% to x% Standard Variable Purchase APR and up to x% fee for future balance transfers will apply. If you transfer a balance from a high-interest credit card to a Discover balance transfer card using this introductory rate, you can use the money you save on interest to pay down your debt. After your introductory balance transfer APR expires, your standard variable purchase APR will apply to any remaining credit card balance.
With Discover, you can earn cash back rewards on every purchase. You can redeem cash back rewards in any amount, any time.1 And Discover will also match all cash back rewards you've earned at the end of your first year.2 There's no signing up, no minimum purchase amount required, and no limit to how much we'll match!
Discover is accepted by 99% of the places across the country that take credit cards.3 Our 100% U.S.-based customer service lets you talk to a real person any time. And our customized alerts let you stay on top of your account information and more.
A Discover balance transfer offer lets you move balances from your existing credit card accounts to a new Discover balance transfer credit card account. When you apply for a balance transfer offer with a 0% intro balance transfer APR, you can reduce interest charge payments by transferring balances from cards with a higher interest rate. There will be a balance transfer fee, but you may save money if you're moving balances away from a high-interest card that you don't pay off every month and you pay down the balance on the new credit card before the low introductory APR period ends.
Learn more about balance transfer offers.
Deciding between a personal loan and a balance transfer credit card depends on your circumstance. Take a look at the Annual Percentage Rate (APR) for each option. Consider the personal loan terms and repayment schedule. For card balance transfers, consider the balance transfer introductory APR and standard variable APR that applies after the intro APR period expires. Look for any fee that applies to each option, like an origination fee for a personal loan or a balance transfer fee for each balance transfer request. Discover Personal Loans does not charge any origination fees. Regardless of your decision, Discover can provide personal loan or balance transfer credit card options for different levels of need.
Cash Back Credit Cards
Intro purchase APR is x% for x months from date of account opening then the standard purchase APR applies. Intro Balance Transfer APR is x% for x months from date of first transfer, for transfers under this offer that post to your account by then the standard purchase APR applies. Standard purchase APR: x% variable to x% variable, based on your creditworthiness. Cash APR: x% variable. Variable APRs will vary with the market based on the Prime Rate. Minimum interest charge: If you are charged interest, the charge will be no less than $.50. Cash advance fee: Either $10 or 5% of the amount of each cash advance, whichever is greater. Balance transfer fee: x% Intro fee on balances transferred by and up to x% fee for future balance transfers will apply. Annual Fee: None. Rates as of . We will apply payments at our discretion, including in a manner most favorable or convenient for us. Each billing period, we will generally apply amounts you pay that exceed the Minimum Payment Due to balances with higher APRs before balances with lower APRs as of the date we credit your payment.
Rewards Redemption: Your rewards never expire. We will credit your account or send you a check with your rewards balance if your account is closed or if it has not been used within 18 months.
Cashback Match: Only from Discover, as of March 2022. We'll match all the cash back rewards you've earned on your credit card from the day your new account is approved through your first 12 consecutive billing periods or 365 days, whichever is longer, and add it to your rewards account within two billing periods. You've earned cash back rewards only when they're processed, which may be after the transaction date. We will not match: rewards that are processed after your match period ends; statement credits; rewards transfers from Discover checking or other deposit accounts; or rewards for accounts that are closed. This promotional offer may not be available in the future and is exclusively for new cardmembers. No purchase minimums.
Acceptance: According to the Feb 2022 issue of the Nilson Report.