What is the Discover it Balance Transfer card credit limit? This question is about the Discover it® Balance Transfer

What is the Discover it Balance Transfer card credit limit?

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This question is about the Discover it® Balance Transfer

Dominick Evans, Member

@dominickevans • 10/21/22 This answer was first published on 03/25/19 and it was last updated on 10/21/22.For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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The Discover it Balance Transfer credit limit is at least $500. However, the exact credit limit will be determined based on your creditworthiness, income, and existing debt, once you are approved.

Each Discover card has a specified minimum credit limit, but you might get a higher one depending on your income and the specifics of your credit situation. The Discover it® Balance Transfer card is a viable balance transfer option. It offers an introductory balance transfer APR of 0% for 18 months. There is also a 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*. And once the introductory period is over, remaining balances will be subject to a regular APR of 16.99% - 27.99% Variable (based on creditworthiness). You can transfer a balance to your Discover card, up to a specific portion of your credit limit.

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What are the best high limit balance transfer credit cards?

One of the best high limit balance transfer credit cards is Chase Freedom Unlimited® because it can have a $5,000+ credit limit, and it offers an intro APR of 0% for 15 months on balance transfers (19.74% - 28.49% (V) after that). The card also has a $0 annual fee.

In addition, Chase Freedom Unlimited offers 1.5 - 5% cash back on purchases. However, this card does charge a balance transfer fee: Either $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days (5%, min $5 after).

There are plenty of other cards with high credit limits in general, like Chase Sapphire Reserve®...

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What's the best Discover balance transfer promotion right now?

The best Discover balance transfer promotion right now is 0% intro for 18 months offered by the Discover it Balance Transfer card. The card's regular APR is 16.99% - 27.99% Variable. It also has a 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*.

The Discover it Balance Transfer is the best Discover card for balance transfers because it offers the longest intro APR of all Discover cards. It also has a $0 annual fee and requires good credit or better for approval.

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Can I have multiple balance transfers on the same credit card?

You can do multiple balance transfers to the same card, as long as the amounts transferred and any transfer fees do not exceed the card’s credit limit. Remember that a separate transfer fee applies to each balance that you transfer. Some issuers may also have their own restrictions.

Although you can transfer balances from multiple credit cards or various types of loans to a single credit card, the same creditor can’t be on both sides of...

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