Many or all companies we feature compensate us. Compensation and editorial research influence how products appear on a page. Credit Cards How to Do a Balance Transfer With a Discover Card Updated Mar 17, 2023 | 4-min read Written by Andrew Rombach Written by Andrew Rombach Expertise: Fresh out of college, Andrew Rombach started freelance writing and editing in personal finance to help pay bills and student debt. He developed an interest in personal finance as he explored tips and tricks for managing credit cards, student loans, and more. Learn more about Andrew Rombach Discover Financial Services has a variety of financial products available to consumers. It is best known for its banking products which includes Discover credit cards, student and personal loans, and checking and savings accounts. In 1986, Discover offered the one of the first cash rewards credit cards, and today, it continues to offer reward-based credit cards. Rewards include 1 percent cash back for purchases and 5 percent cash back for rotating categories. Discover also offers balance transfer cards, and Discover allows transfers to and from its network of cards. A balance transfer allows cardholders to transfer a balance from one credit card to another. People do this to avoid high interest payments. For instance, if someone has a credit card with 15 percent interest, it can be hard to pay down the debt. The person can transfer the debt to a card that offers 0 percent interest on transfers for a full year. This gives the consumer time to pay off the amount without paying interest. We’ve researched how to do a credit card balance transfer with your Discover card. How to Transfer a Balance to a Discover Card First, cardholders need all of the information related to their credit card balance. For example, let’s say that Joe has a Chase credit card, and he wants to transfer that balance to Discover. He needs to get his Chase account number and the amount of money he wishes to transfer. This information is required to complete the balance transfer. Consumers who already have a Discover credit card can request a balance transfer by calling 1-800-347-2683. They will provide the information, and the representative will let them know if the transfer is approved. If approved, Discover will pay the requested amount to the credit card company. Balance transfers for current cardholders typically credit within seven days, although they can take longer in certain cases. Those who do not have a Discover card need to apply for one before initiating the transfer. Discover has cards that offer 0 percent interest on balance transfers for 14 months, and it occasionally offers credit cards with even better terms. At the end of the pre-determined time period, Discover charges the standard purchase APR. Consumers can request the transfer when applying for the credit card or call 1-800-347-2683 to speak to a representative. Credit Card holders cannot make balance transfers that are greater than their available balance. It is recommended they only transfer up to 70 percent of the balance so their credit scores are not impacted. Discover charges a balance transfer fee of 3 percent on most of its credit cards. This fee is applied for each transfer. How to Transfer a Discover Balance to Another Card Consumers who have Discover cards might find a better deal somewhere else and want to do a balance transfer with another credit card company. Begin this process by doing some research. Each credit card company offers its own balance transfer deals, and the deals have various terms. Some companies offer 0 percent interest for 18 months or longer on any balance transfer, so find a card that offers a favorable deal. Fees should also be considered. First, there is the annual fee that many credit cards charge. Then, there are the fees that are related to the transfer. Choose a credit card with minimal fees to get the best deal. The amount that can be transferred is another cause for consideration. Some credit card companies cap how much people can transfer while others only place a limit based on the available credit. Consumers should look at how much they wish to transfer and find a company that can accommodate them. Bonuses should also be considered. Cash back and reward bonuses help offset fees that consumers pay during the transfer process. Companies have various credit card offers, so research is required. After finding the balance transfer credit card, the consumer must apply for it. Most cards allow people to apply for the balance transfer during the application process, while others require cardholders to call the credit card company. Call as soon as the credit card is approved to ensure that the balance transfer is made during the allotted time frame. Credit card companies work at varying speeds, but most will complete the balance transfer within two weeks. Check to make sure the transfer was made after the time frame has passed. A balance transfer can be wise a financial decision when you are stuck with credit card debt, but consumers need to do their research to find the right balance transfer credit card as well as learn how to do a balance transfer in the first place. Those who choose wisely can avoid high interest payments and save lots of money.