How to Do a Balance Transfer With Discover

Completing a balance transfer with Discover is straightforward. You can do it online, and the process usually takes less than four days. However, if you're a new cardholder, you'll need to wait 14 days after opening your account before requesting a balance transfer.

Discover offers several credit cards that enable balance transfers and feature a 0% intro APR for 15 to 18 months. This financial strategy can be particularly beneficial if you want to eliminate your balance from high-interest credit cards.

Transferring a balance with Discover follows the same online procedure, regardless of whether you're an existing cardholder or a new applicant. However, if you're a new cardholder, remember you'll need to wait 14 days after opening your account to request a transfer.

1. Compare Discover balance transfer cards to find one that aligns with your financial goals. Ideally, you’ll want a card with a lengthy 0% intro APR offer and no annual fee.
2. Apply for your chosen card. Once approved, wait for 14 days before you initiate a balance transfer request.

1. Log in to your Discover account.
2. Navigate to “Card Services” and select “Balance Transfers.”
3. Provide the credit card issuer's name, account number and transfer amount. Once everything is completed, click submit.

After you submit a balance transfer request, Discover claims that you can expect your transfer to be processed within four days. You'll see the transferred balance on your Discover card account once it is complete. Continue making payments on your old card until the transfer is confirmed to avoid late fees.

Log into your Discover account to check the status of your balance transfer. For assistance, call Discover at 1-800-347-2683. Stay informed to ensure a smooth transition and avoid any potential issues.

Before initiating a balance transfer with Discover, it's wise to understand the applicable terms and conditions. Here's a rundown of what to expect:

When choosing a balance transfer card, look for one with a long 0% intro APR period, low balance transfer fees and no annual fees. These features can significantly improve your ability to pay down debt efficiently.

Discover balance transfer cards typically feature a 0% intro APR period, a 3% balance transfer fee and no annual fee. Their difference lies in the length of the no-interest timeframe and their ability to earn rewards.

If you’re looking for a lengthy no-interest period, the Discover it® Balance Transfer card is a strong pick. It offers a 0% intro APR on balance transfers for 18 months, the longest from this issuer.

Meanwhile, the Discover it® Cash Back card features a 15-month 0% intro APR on balance transfers. It also lets you earn 5% cash back on rotating categories (up to the quarterly limit) and 1% cash back on all purchases. You can then use the cash back you earn to pay your balance. If you want rewards from your balance transfer card, the Discover it® Cash Back can be a worthy alternative.

While we’ve covered the main points you should know about Discover balance transfers, you may have further questions. We’ve compiled the most asked questions to help you make an informed decision.

If you're dealing with a high-interest credit card balance and want to eliminate your debt, a balance transfer can be a smart strategy.

Before you decide on the transfer, it's wise to consider your ability to repay the balance within the promotional period. Once the intro period lapses, the standard APR of 17.24% to 28.24% (variable based on creditworthiness) kicks in on any unpaid balance.

You should also consider balance transfer fees and the potential impact of doing a transfer on your credit score. Overall, the right move is unique to your financial needs and situation.