Why Choose Discover Balance Transfer Credit Cards
As stated in a good amount of my previous articles, Discover credit cards have really been the underdog in the credit card industry. However, lately Discover has really picked up the pace. One of the ways they are undermining the competition is by offering great balance transfer credit card offers. There are a great amount of pros and a small amount of cons regarding Discover balance transfer credit cards however, I will cover all of these in this article.
One of the best thing about any balance transfer credit card is the introductory interest rate. An introductory interest rate is the interest rate that the credit card company offers to you as a promotion for a short time to use their credit card. These introductory interest rates normally range from 0.00% to 3.99% and they will last anywhere from 6 months to 12 months. With Discover credit cards, these balance transfer introductory interest rates will almost always be 0% for 12 months. This is sure to save you some money.
Another great thing that Discover credit cards are starting to offer is rewards balance transfer credit cards. With the majority of the Discover balance transfer credit cards, you also earn rewards. These rewards programs will vary depending on the Discover credit card you choose, so make sure you take a look at the rewards program. Some balance transfer credit cards are designed to offer sky miles, cash back, gas, and many more redemption offers. Make sure that you pick the program that fits you best, because Discover is sure to have what you are looking for.
Now lets talk about the bad. There is only one bad aspect to Discover balance transfer cards and that is the fees associated with balance transfers. Most banks will charge anywhere from 3% to 5% as a balance transfer transaction fee. Discover balance transfer credit cards however are on the high end with most balance transfer transaction fees at 5%. This isn’t so bad though if you think about it. Lets say you are paying 18.99% interest on $10,000.00, and instead, you pay a one time 5% fee for the whole year. The one time fee is really not that much of an issue when you think of all the money you will be saving in the interest charges.
OK, I don’t know of any perfect credit cards. They are all in the business for the same thing, TO MAKE MONEY. However, Discover credit cards are really doing things to make it easier to trust the banks. I have received countless emails from consumers on my websites letting me know that Discover had excellent customer service. If you are looking for a great balance transfer credit card, there are plenty to choose from. However, if you are looking for the best credit card for balance transfers, look at Discover balance transfer credit cards.