Discover has a 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*. Unlike many issuers, Discover doesn’t have a set minimum for the fee (e.g. at least $5).
Discover doesn’t offer any credit cards without a balance transfer fee. However, many competing lenders do offer at least one card with a 0% balance transfer fee.
Here’s how Discover balance transfer fees compare:
- Discover balance transfer fee: 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*
- Capital One balance transfer fee: $0 at this Transfer APR (for most of their cards)
- Chase 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)
- Bank of America balance transfer fee: 3% (min $10)
There are a few other things you should know about making a balance transfer with Discover. Discover’s balance transfer fee is added to the amount you transfer, becoming part of the balance you owe. You can only transfer up to your credit limit, including fees. Discover accepts balance transfers from other issuers’ credit cards and loans, but does not allow balance transfers from other Discover accounts. And balance transfers do not earn rewards.
Transferring a balance to a Discover credit card can take up to two weeks. In addition, Discover often requires cardholders to transfer a balance by a certain date to be eligible for a 0% APR.
Some of the Discover credit cards that include a balance transfer intro APR are the Discover it® Cash Back and Discover it® chrome, offering 0% for 15 months. The cards’ regular APR is 14.99% - 25.99% Variable.
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