Does anyone has success experiences doing balance transfers on Discover It Card?

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Hello there. I just received an offer from Discover to do a Balance Transfer, the offer is for a 0% promo APR* for 12 months, which is great, but then it says 5% transfer fee, and I believe that's the catch.

I owe $8,500 in another account with 9.9% APR* and I have the money to pay for it right away, but I was thinking about transferring the balance to Discover just to get the 1.5x points per dollar, but if I would be loosing $4,250 off because of that 5% I do not see the point on doing that.

Do anyone have a similar experience or any experience at all using Balance Transfer successfully?

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alavandermoon

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Posted: 2 years ago
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