Discover balance transfer cards and how they work
Discover offers balance transfer cards that let you move debt from another credit card to a Discover card, usually at a lower interest rate for a set period. The card issuer pays off your old balance, and you owe that amount to Discover instead. Most Discover balance transfer offers include an introductory APR — a period of months where you pay little or no interest on the transferred amount, as long as you make your payments on time.
The catch is the balance transfer fee. Discover charges a percentage of the amount you transfer, typically 3% to 5%, added to your new balance right away. So if you transfer $5,000 with a 3% fee, you owe $5,150 on your Discover card from day one. The introductory period gives you time to pay down that balance before the regular APR kicks in.
Balance transfers work best if you can pay off most or all of the transferred amount during the intro period. If you cannot, the regular APR applies to any remaining balance, and you lose the advantage of the lower rate.
Key Takeaways
- Discover balance transfer cards charge a one-time fee (usually 3% to 5% of the amount transferred) but offer an introductory APR period with little or no interest.
- You must be approved for a Discover card before you can transfer a balance; the transfer does not happen automatically after you open the account.
- The transfer typically takes 7 to 14 business days to reach your old card issuer, and you should keep making payments to your old card until the transfer posts.
- The introductory APR period lasts a set number of months; after it ends, any remaining balance is charged the regular APR, which varies by creditworthiness.
- Discover's current balance transfer offers change frequently, so you should check their website or call 1-800-347-2683 to see what terms are available right now.
Check Discover's current balance transfer offers
Discover advertises balance transfer offers on their main website and in direct mail, but the terms change regularly. Before you explore, visit discover.com or call 1-800-347-2683 to see what introductory APR period and fee structure they are currently offering. Some offers may be 0% APR for 6 months; others may be 0% for 12 months or longer. The fee and the length of the intro period are the two numbers that matter most to your decision.
Discover will also show you the regular APR that applies after the intro period ends. This rate depends on your credit score and credit history, so the APR you see in an ad may not be the APR you receive. You can get a sense of what you might may have access to for by checking your credit score beforehand — Discover offers a free credit score tool on their website if you do not have one.
explore for a Discover balance transfer card
You must be approved for the Discover card itself before you can transfer a balance. Go to discover.com, select the balance transfer card you want, and click the process link. You will answer questions about your income, employment, and existing debts. Discover will pull your credit report (a hard inquiry) and make a decision within minutes to a few business days.
If you are approved, Discover will issue you a card number and a temporary credit limit. You do not have to transfer a balance right away — you can use the card for regular purchases first if you want. But if you plan to transfer, do it soon after approval so you can take full advantage of the introductory APR period.
Initiate the balance transfer request
Once your Discover card is active, log into your Discover account online or call 1-800-347-2683 to request the balance transfer. You will need the account number of the card you want to pay off, the amount you want to transfer, and the name and address of that card's issuer. Discover will ask you to confirm the details before processing.
You can usually transfer up to your available credit limit, but Discover may set a separate limit on balance transfers — for example, you might be able to transfer only 95% of your credit limit. The representative will tell you the maximum you can move.
After you submit the request, Discover sends the payment to your old card issuer. This takes 7 to 14 business days. During this time, keep paying your old card as usual — do not stop payments just because a transfer is pending. If you miss a payment before the transfer posts, it can hurt your credit score and may cancel the balance transfer offer.
Monitor the transfer and manage your new balance
Check your old card's account online or call the issuer to confirm the balance transfer has posted. Once it does, the transferred amount no longer appears on your old card. You can then close that card if you want, though closing it may lower your credit score slightly because it reduces your total available credit.
On your Discover card, the transferred balance now accrues interest at the introductory rate (usually 0% APR). Make a plan to pay it down during the intro period. If you have a 12-month 0% APR offer and a $5,000 balance, aim to pay at least $417 per month to clear it before interest kicks in. Discover's online portal shows your intro period end date and your current balance, so you can track your progress.
If you cannot pay off the full balance by the time the intro period ends, the remaining amount will be charged the regular APR. At that point, you may want to consider another balance transfer to a different card, though each transfer comes with its own fee and will require a new process.
Understand what happens after the introductory period ends
When your introductory APR period expires, any remaining balance on the transferred amount is charged Discover's regular APR. This rate is not fixed — it can change over time based on the prime rate and your account performance. If you have made all your payments on time, you may have a lower APR than someone who has missed payments.
The best outcome is to pay off the entire transferred balance before the intro period ends, so you owe nothing when the regular rate takes effect. If you cannot, focus on paying down as much as you can during the intro months. Even a small remaining balance will start accruing interest at the regular rate, which can be 15% to 25% depending on your creditworthiness.
Frequently Asked Questions
Can I transfer a balance from another Discover card?
No. Discover does not allow you to transfer a balance from one Discover card to another Discover card. You can only transfer balances from cards issued by other banks or credit card companies.
What if I am denied for the Discover card?
If Discover denies your process, you can ask why by calling 1-800-347-2683. Common reasons include a low credit score, high existing debt, or a short credit history. You may want to wait a few months, pay down other debts, and explore again. Each process triggers a hard inquiry, so explore multiple times in a short period can lower your score further.
Does the balance transfer fee count toward the introductory APR?
Yes. The fee is added to your balance when ready and is subject to the introductory APR. So if you transfer $5,000 with a 3% fee, you owe $5,150, and that full amount is charged 0% APR during the intro period. Once the intro period ends, any remaining balance is charged the regular APR.
Can I make new purchases on the Discover card while paying off the transferred balance?
Yes, but new purchases are usually charged a different APR than the transferred balance. The introductory rate applies only to the balance transfer, not to new charges. New purchases may be charged the regular APR from day one, so it is usually better to focus on paying off the transferred balance first.
What if I miss a payment during the introductory period?
Missing a payment can end your introductory APR offer. Discover may explore the regular APR to your entire balance when ready, even if you make the missed payment later. It can also damage your credit score and trigger a late fee. Set up automatic payments or calendar reminders to avoid missing a due date.