Discover Bank’s “No Balance Transfer Fee” Credit Card is Back!
One of the most popular promotional offers by Discover Bank is back once again!
The Discover More “No Balance Transfer Fee” Credit Card usually surfaces around this time each year to help relieve consumers of any debt they may have racked up from Holiday spending.
The purpose of balance transfer credit cards is relatively straight forward – you’ll get a promotional 0% APR period (usually 6 months to 12 months) in which you can transfer over debt from another card and pay it off before the zero interest period is over. However, the big kicker with these cards is that they almost always come with a one time balance transfer fee of between 3% and 5% depending on which card you choose. In fact, this is the only balance transfer credit card promotion we’ve seen that waives this fee.
The savings from a “no balance transfer fee” credit card is immense.
For example, let’s say you’ve got $5,000 in credit card debt that is accompanied with an unfavorable interest rate from your current bank. You then decide to apply for a 0% intro APR balance transfer credit card and transfer the entire $5,000 over to your new card. This card imposes a standard 5% up front balance transfer fee. That would mean you would need to cough up $250 right off the bat in exchange for a 12 month 0% APR period.
Given the above scenario you can see how beneficial these no balance transfer fee cards from Discover Bank can be especially if you’re dealing with more credit card debt then mentioned in our hypothetical situation.
Discover More “No Balance Transfer Fee” Credit Card Details (Limited Time Promotion):
- Limited Time Offer – $0 Balance Transfer Fee!
- 0% intro APR on purchases and balance transfers for 12 months, then the variable standard purchase APR of 10.99% – 19.99%
- 5% Cash back Bonus in categories that change like gas, restaurants, department stores and more. Limitations apply
- Up to 20% Cash back Bonus at popular retailers when you shop online through Discover.com
- Discover is ranked 1 in customer loyalty–15 years in a row! (2011 Brand Keys Customer Loyalty Engagement Index report)
- 24/7 access to a U.S.-based Account Manager within 60 seconds
- Great rewards with no annual fee, no rewards redemption fee, and no additional card fee
- Click apply to view rates, fees, rewards, limitations and other important information
- Offer Expires on January 31, 2012 -
