Discover Card 18 Month Balance Transfer Review and Comparison

Discover Card's 18-month balance transfer offer is a game-changer for those looking to consolidate debt or make a big purchase.

The card offers a 0% introductory APR for 18 months, which can save you a significant amount on interest charges. This can be a huge help if you have high-interest debt or want to finance a large purchase without breaking the bank.

To qualify for this offer, you'll need to pay a balance transfer fee of 3% or $5, whichever is greater. This fee is a one-time charge that's applied to the amount you transfer.

With no annual fee and a cashback rewards program, the Discover it Balance Transfer card is a solid choice for those who want to pay off debt or make a big purchase without paying a lot of interest.

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The Discover it Balance Transfer card offers a 0% intro APR on balance transfers for 18 months, which can help you save a significant amount of money on interest. This is one of the longest introductory balance transfer periods available.

To qualify for the 0% intro APR, you'll need to make a balance transfer within a certain date, so be sure to check your cardholder agreement. The balance transfer fee is 3% intro balance transfer fee, up to 5% fee on future balance transfers.

You'll also receive a 0% intro APR on new purchases for the first 6 months, which can give you some breathing room to pay off your balance. The regular APR jumps to a variable 17.24% - 28.24% after the promotional rates expire.

Here's a quick rundown of the fees and interest rates associated with this card:

It's worth noting that there's no penalty APR, and Discover it Balance Transfer won't penalize you for the first late payment. However, you will be charged a late fee of up to $41 on any subsequent late payments.

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The Discover Card 18-month balance transfer offer has its advantages and disadvantages. Here are some key points to consider:

The introductory APR balance transfer period is a significant benefit, lasting 18 months, which can help you pay down high-interest credit card debt without incurring interest charges.

The rewards program provides continued incentive to use the card, offering 5% cash back on up to $1,500 spent in quarterly rotating categories, activation required.

There is no annual fee, making it a cost-effective option for those looking to transfer balances and earn rewards.

However, the short intro APR for purchases is a drawback, lasting only six months, which may not provide enough time to pay off purchases before interest kicks in.

The rewards may be a distraction from paying off debt, as the rotating categories and activation requirements can be confusing and may lead to overspending.

A balance transfer fee is also a con, cutting into the amount you're able to transfer, although this is a common fee for balance transfer cards.

Here's a summary of the pros and cons:

The Discover it Balance Transfer card offers a range of features and fees that make it an attractive option for those looking to pay off existing debt.

There is no annual fee, which means you can use the card without incurring additional costs. Additionally, there are no foreign transaction fees, making it a great choice for international travel.

The card also offers a lengthy intro APR on balance transfers, with 0% APR for 18 months. This can save you a significant amount of money in interest charges compared to other credit cards. However, after the intro period ends, a variable APR of 17.24% - 28.24% applies.

Here are some key features and fees to consider:

Overall, the Discover it Balance Transfer card offers a range of features and fees that can help you pay off existing debt and save money on interest charges.

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Here's a breakdown of the key features of the Discover it Balance Transfer card:

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The Discover it Balance Transfer card has a few fees and rates that you should know about. The card has no annual fee, which is a great perk if you're looking to save money.

The balance transfer fee is 3% on transfers made within the introductory term, which ends in October 2022. After this term, the fee increases to 5%. This is a standard fee for balance transfer cards.

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There's also an introductory APR of 0% on balance transfers for 18 months, followed by a variable APR ranging from 17.24% to 28.24%. This APR is lower than many competitors, making it a great option for those looking to pay off existing balances.

You'll also get an introductory period of no interest on new purchases for six months, followed by the same variable APR. This can be a great feature if you need to make a large purchase and want to avoid interest charges.

Here's a summary of the key fees and rates:

Keep in mind that these fees and rates are subject to change, so be sure to review the card's terms and conditions before applying.

The Discover it Balance Transfer card offers a rewards program that's worth considering. You can earn 5% cash back on up to $1,500 in purchases per quarter, which can add up to $75 per quarter.

The cash back rewards don't expire and can be redeemed at any time for statement credits, gift cards, merchandise, and more. This flexibility is a big plus.

With the Discover it Balance Transfer card, you can earn an estimated $353 in cash back annually, based on a sample budget of $22,126. This includes cash back earnings in categories like groceries, gas, dining out, travel, utilities, and general purchases.

Here's a breakdown of the estimated cash back earnings per category:

The rewards don't stop there, as Discover will match all the cash back you earned at the end of your first year. This means you could effectively double your first-year rewards, earning an estimated $707 in cash back.

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The Discover it Balance Transfer card has a 0% introductory APR offer for 18 months, which can be a game-changer for those looking to pay down debt quickly.

This makes it an attractive option for individuals who need time to pay off their balance without incurring additional interest charges.

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The Discover it Balance Transfer card offers a rewards program that's pretty sweet. You can earn 5% cash back on up to $1,500 spent in bonus category purchases each quarter you activate.

The bonus categories rotate between places like restaurants, grocery stores, gas stations, and Amazon, so you can maximize your rewards by spending in these areas. You'll earn 1% on all other purchases, including bonus category purchases made after you reach the quarterly spending cap.

The card issuer will match all the cash back you earned at the end of your first year, effectively doubling your first-year rewards. This means you can earn up to $75 per quarter in cash back, plus 1% on all other purchases.

Here's a breakdown of how much cash back you can earn in each category, annually:

The rewards don't expire and can be redeemed at any time for statement credits, gift cards, merchandise, and more. This makes it a great option for those who want to earn rewards without worrying about them going to waste.

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If you're considering the Discover it Balance Transfer card, you might want to compare it to other popular balance transfer cards on the market.

The Wells Fargo Reflect card offers a 21-month 0% introductory rate on balance transfers and purchases, which is longer than the Discover it Balance Transfer card's 18-month 0% introductory rate. This could be a good option if you need more time to pay off your balance.

You can also consider the Citi Simplicity Card, which has a 0% intro APR for 21 months on balance transfers and a regular balance transfer rate of 18.24% - 28.99% (Variable). The Citi Double Cash Card also offers a 0% intro APR for 18 months on balance transfers and a regular balance transfer rate of 18.24% - 28.24% (Variable).

Here's a comparison of some popular balance transfer cards:

If you're considering the Discover it Balance Transfer card, you might want to compare it to similar cards on the market.

The Discover it Balance Transfer card offers a 0% Intro APR for 18 months, with a regular balance transfer rate of 17.24% - 28.24% Variable APR.

The Wells Fargo Reflect Card, on the other hand, offers a 0% intro APR for 21 months from account opening on qualifying balance transfers.

Here are some key differences between these cards:

The U.S. Bank Visa Platinum card also offers a 0% introductory APR on balance transfers as well as purchases for 20 billing cycles, which is a longer introductory period than the Discover it Balance Transfer card.

The interest rate on the U.S. Bank Visa Platinum card can rise to 17.49% - 25.49% Variable APR after the introductory period.

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Discover it Balance Transfer has a more appealing first-year match and rewards compared to the Bank of America BankAmericard.

The BankAmericard has a 21-month introductory APR of 0% that extends to purchases as well as balance transfers made within the first 60 days.

Unlike Discover it Balance Transfer, BankAmericard doesn't have an annual fee or a penalty APR.

After the introductory period, the interest rate on BankAmericard resets to a rate that's a bit higher than Discover's starting APR of 0%.

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The Discover it Balance Transfer card has some fantastic security features that give you peace of mind. The issuer offers no liability for fraudulent use of the card, so you're protected in case your card is stolen or used without your permission.

You can also get credit monitoring through the Identity Alerts feature, which notifies you of any data breach or suspicious changes to your Experian credit report account.

Cardholders can freeze and unfreeze their accounts when necessary through the Discover app on their mobile phone, saving them time and trouble in case their card goes missing.

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The Discover it Balance Transfer card is a top pick for balance transfers, offering a lengthy intro APR period that lets you save on interest charges.

This card also earns cash back rewards in rotating categories, giving you opportunities to earn extra rewards with your regular purchases.

You can effectively double your first-year cash back earnings, as Discover matches all your rewards earnings at the end of your first year as a cardholder.

This means you can earn even more cash back in the first year, on top of what you earn through regular purchases.