Discover More Card 0% APR No Balance Transfer Fee for 12 Months

Here’s another balance transfer offer, an even better deal than the one from Citibank Diamond Preferred Card I talked about a couple of days ago.

This new promotion is from Discover More Card. For a limited time, new card member will be able to make no-fee 0% APR balance transfer for 12 months with the Discover More Card. Even though the introductory period isn’t as long as the 21-month offered by the Citi Diamond Preferred Card, the reason I say this deal is better is that you don’t have to pay the 3% balance transfer fee that is normally charged by other card issuers including Citibank. The 3% fee isn’t a small money given how low banks are now paying their customers for having savings accounts with them (nowadays, you are probably getting something around 1.0% APY for your money). If you transfer a large amount of money, then you can save quite a bit by taking advantage of this offer instead if you are considering doing a balance transfer. For example, if you transfer $10,000 from the Discover More Card to a savings account that pays 1.0% APY, you can make $100 after the offer expires in one year.  This may not be something that will get you excited, but it’s free money anyway. And if you do have balances on other credit cards that charge much higher interest rates, the savings you get will be much greater from transferring the balances to the Discover More Card than having the money in a savings account.

Another good thing about this promotion from Discover is that there’s no other conditions attached to it. You don’t have to spend a lot of money in order to be eligible for this promotional offer.  In fact, all you need to do is get a new Discover More Card and make a balance transfer within the first six months of membership (before July 10, 2012). That’s it.  Plus, the card has no annual membership fee.

In addition to the no-fee balance transfer offer, other benefits of the Discover More Card include that you can earn 5% cashback in categories such as gas, restaurants, department stores and more. Usually, these bonus categories rotate every quarter (the 5% bonus categories from January to March 2012 are gas and entertainment). Outside the bonus categories, you can earn up to 1% cashback on every purchase made with the card and there’s no limit on how much cashback you can earn. There’s no rewards redemption fee and you can get additional card with no extra cost as well.

If you are interested in this promotion, get it before it’s gone. I remember Discover had a similar offer early last year and it ended pretty quickly.

Currently Discover is also offering a $150 gift certificate for its Open Road Card after the first purchase within the first six months of account opening. Note that, unlike credit card bonus offers, there’s no spending limit for receiving the gift certificate.
Main features of the Open Road Card are as the following:

  • Free $150 Gift Certificate with first purchase
  • 2% Cashback Bonus automatically at any gas station and any restaurant
  • 5% to 20% Cashback Bonus at over 150 top retailers through our online shopping mall
  • Up to 1% unlimited Cashback Bonus on all other purchases
  • 0% intro APR on balance transfers for 12 months, then the Regular APR, 3% balance transfer fee
  • 0% intro APR on purchases for 12 months, then the Regular APR

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3 Responses to “Discover More Card 0% APR No Balance Transfer Fee for 12 Months”

  1. Lyle |  Jan 09, 2011 at 12:44 am

    I already have one Discover card. Does that leave me out for being able to get this card?

    • Sun |  Jan 09, 2011 at 12:19 pm

      I used to have more than one Discover card. I don’t think having another card will prevent you from getting this card.

  2. Klonopin |  Oct 30, 2012 at 8:51 pm

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