How to Do a Balance Transfer With Discover

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Updated on Tuesday, April 14, 2020

A balance transfer credit card is a great tool that can help you save money and become debt free faster. By transferring a balance from a high-interest credit card to a card offering introductory 0% APR for a specified period of time, you’ll pay $0 in interest charges and all your payments will go toward the principal. Just make sure to pay off the balance in full before the intro period ends, or you’ll start accruing interest at the regular APR on any remaining balance.

If you’re thinking about doing a balance transfer with Discover, this guide will walk you step-by-step through how to do it. It will also examine best practices for paying down debt with a balance transfer and will look at the details of the Discover it® Balance Transfer, our top pick for a Discover balance transfer credit card.

Complete your Discover balance transfer online

When you apply for a Discover card that offers a balance transfer, you’ll get the opportunity to request a balance transfer when you fill out the application form. If you don’t do it then, there’s an option to request a transfer through your online account later. Be aware that it’s smart to request your balance transfer as soon as possible, because it may increase after a certain period of time.

1. Log on to your account and select “Manage.” Then click on “Balance Transfer.”

2. Choose the balance transfer offer you want by clicking “Select This Offer.”

3. Select “Pay off a credit card or loan.”

*The above offer and/or promotion may have since changed, expired, or is no longer available.

4. Enter your account number and transfer amount. Then, “Continue to Terms” and review them prior to submitting the transfer.

*The above offer and/or promotion may have since changed, expired, or is no longer available.

Complete your Discover balance transfer by phone

If you’d rather complete a balance transfer over the phone, just call the number on the back of your card, and a representative will submit the request for you. Have the following information ready:

  • Current Discover card account number
  • Name and account number on the debt you wish to transfer
  • Amount to be transferred

What can a balance transfer be used for?

According to Discover’s website, balance transfers can be used to pay the following:

  • Credit cards
  • Store cards
  • Gas cards
  • Auto loans
  • Medical bills

Balance transfer best practices

Here are some steps you can take to ensure success while requesting your balance transfer and during the period where you’re paying the card off:

  • Request your balance transfer as soon as possible. Discover requires balance transfers to be completed by a certain date from account opening. Refer to your cardmember agreement for the exact date.
  • Review the terms of your balance transfer offer to verify they’re correct. Make sure you receive the offer you expected and note when the intro period ends.
  • Continue to make payments toward your existing debt balance until the balance transfer posts to your card account. This may take up to 14 days.
  • Pay each bill on time, since late payments may cause Discover to cancel the balance transfer offer.
  • Keep spending to a minimum, so you don’t rack up more debt. Your goal should be to pay off your balance, and excessive spending can lead you to fall into more debt.

Read: 5 Things to Do Once Your Balance Transfer is Complete

Best Discover cards for balance transfers

The Discover it® Balance Transfer is our top pick for a Discover balance transfer card. Also worth considering are the Discover it® Cash Back,  and Discover it® chrome. Details for each card are below:

Discover it® Balance Transfer

Rewards: Earn 5% cash back on everyday purchases at different places each quarter like grocery stores, restaurants, gas stations, select rideshares and online shopping, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically.

Discover it® Cash Back

Rewards: Earn 5% cash back on everyday purchases at different places each quarter like grocery stores, restaurants, gas stations, select rideshares and online shopping, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically.

Discover it® chrome

Rewards: Earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases – automatically.

Balance transfer FAQs

No, you cannot do a balance transfer from one Discover card to another Discover card — most card issuers have similar rules. You can only transfer a credit card balance from a different issuer to your new Discover card.

If there are balance transfer offers available to you on your Discover credit card, you can check them by logging into your account online, clicking “manage,” then clicking “balance transfer.”

How much you can transfer to a Discover credit card depends on the credit limit you’re assigned. Discover allows cardholders to transfer up to approximately 95% of their credit limit.

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