topic Re: Discover Card?? in Community Chat

Discover Card??

CherryHugs — Thu, 02 Jan 2025 16:37:14 GMT

Being in some credit card debt right now

and paying it seems on the interest and never getting ahead on the card---Was wondering if anyone has a Discover Card and if its good

( No interest on it for 15 months)

PLUS if the balance on the card with a big balance can be transfered to the discover card OR other no interest one?

I appreciate any help!

Re: Discover Card??

Still Raining — Thu, 02 Jan 2025 16:51:33 GMT

Have you checked on the amount of the Balance Transfer Fee?

Re: Discover Card??

Kachina624 — Thu, 02 Jan 2025 16:56:39 GMT

@CherryHugs. Iv3 had a Discover card for years and have never had any trouble with them.

I got out of the credit card habit by using my debit card for all purchases. Can't even remember the last time I put something on a credit card. You can then pay down your credit cards rather quickly by paying more than the minimum and you don't accrue more debt.

Re: Discover Card??

PinkyPetunia — Thu, 02 Jan 2025 17:03:11 GMT

Discover card balance transfer fee is 5%

Zero interest is for 10 months

Check their website or call them to get accurate info.

Re: Discover Card??

m0rgan — Thu, 02 Jan 2025 17:05:06 GMT

I have had a discover card for over 40 years and find them to be very easy to deal with and you always talk with someone from the US. I would call them and see what they say about transferring balances and such.

Re: Discover Card??

qvcaddition — Thu, 02 Jan 2025 17:07:33 GMT

@CherryHugs

@CherryHugs wrote:
Being in some credit card debt right now
and paying it seems on the interest and never getting ahead on the card---Was wondering if anyone has a Discover Card and if its good

( No interest on it for 15 months)

PLUS if the balance on the card with a big balance can be transfered to the discover card OR other no interest one?
I appreciate any help!

Yes, going through the same problem. Been a customer for years and always paid in full until inflation. I don't charge anymore on ir, but the interest they put on is making it higher each month. I am calling them to see if they can help in some way. My credit union has a transfer for 8% so I am going to apply for a trans, from the 17% of Discover card.

I have a good relation with the credit union, so hopefully they will OK transfer. I always paid Discover in full, so the interest rate didn't bother me, but now with them putting so much on my card, I can't handle it. I have not charged on it for awhile, but it keeps going up, because of interest.

I alm on a fixed income and it is making me lose sleep.

Re: Discover Card??

Icegoddess — Thu, 02 Jan 2025 17:16:35 GMT

I've transferred balances from one card to another with no issue in the past. However, you need to read those terms carefully. What happens if you don't pay off the entire balance within those 15 months? You might get charged interest on the entire amont transferred, not just the balance. And if you then continue to charge on the old card, you're just asking for trouble.

You've got to start paying on more than just the interest or you'll stay in trouble. Need to stop using the card(s) until you pay them off and then only charge what you can pay off each month. Don't get sucked into the EZ Pay hole.

Re: Discover Card??

rockygems123 — Thu, 02 Jan 2025 17:20:31 GMT

@CherryHugs wrote:
Being in some credit card debt right now
and paying it seems on the interest and never getting ahead on the card---Was wondering if anyone has a Discover Card and if its good

( No interest on it for 15 months)

PLUS if the balance on the card with a big balance can be transfered to the discover card OR other no interest one?
I appreciate any help!

@CherryHugs

Yes depending on your credit limit if the terms are 15 months 0% interest you can transfer the debt to your new no interest charge.

Depending on the balance even with the transfer fee which is usually around 4-5% you'll save by not paying interest.

You would need to budget and try to get the balance paid off within those 15 months. Otherwise the new rate kicks in which can be high as in 29%+.

Re: Discover Card??

kitty60 — Thu, 02 Jan 2025 18:39:24 GMT

We have had Discover cards for decades. I have never had a problem with them. Once when traveling I was hacked and they offered to overnight a card to my hotel! Also, we actually have 3 different ones. My account, husbands account and house account. At least once a year when paying the bills I mistakenly pay to an incorrect account. When I call they are happy to transfer the payment and never charge a late fee.

Re: Discover Card??

lcubedsudbury — Thu, 02 Jan 2025 18:47:19 GMT

I too have had a Discover card for over 40 years. We always pay it off each month. You can’t just keep spending money you don’t have. I would never use a debit card for purchases. You have more rights using a credit card should a problem arise. I don’t want anyone else in my bank account.

Re: Discover Card??

shoptilyadropagain — Thu, 02 Jan 2025 18:52:12 GMT

I'm not much help on knowing any information about transferring a balance from one card to a Discover card, etc.

I switched to Discover almost two years ago and couldn't be happier. They're very easy to deal with although I have never dealt with an actual person as I applied for it online and am able to find out answeres to my questions online. I also pay off my balance every month.

Re: Discover Card??

elated — Thu, 02 Jan 2025 19:16:34 GMT

I have used Discover Card and never had a problem. The balance transfer with 0 percent interest with 15 months works if you pay more than the minimum. Also, you have a balance transfer fee of 5%. Another point, if you don't pay it off in 15 months, the interest is charged back from the original transfer date. As long as you pay it off, you are in good shape. Paying interest every month on a balance makes it near impossible to pay it off.

Re: Discover Card??

Nightowlz — Thu, 02 Jan 2025 19:25:06 GMT

I have had a Discover card forever. Never had any issues except when someone else was using my card. Those amounts were taken off my bill.

I would keep transferring the balance to 0% interest cards for certain amount of time until it's paid off. Been there done that long ago but I didn't pay a transfer fee. Do they have any cards that don't charge the transfer fee?

You do need to find out the fees involved plus the amount of interest you would pay if you don't pay balance off when it's due.

Stop using the cards. Pay as much as you can on it.

After you get it paid off pay the balance monthly so you don't end up back where you started.

Re: Discover Card??

Q-Checker — Thu, 02 Jan 2025 19:25:59 GMT

@CherryHugs i don't mean to preach but you need to take a long hard look at what purchases are on your card-- wants vs. needs -- and think of all future purchases in the same way until you are debt free. Not easy but it's critical to your financial future. And the blame is not with "inflation."

Re: Discover Card??

gidgetgh — Thu, 02 Jan 2025 21:26:49 GMT

@CherryHugs - I've had a Discover card for years and years and I love it. I use their cash back program for gift cards, bought through their site.

I can't help you with balance transfers and stuff. But the Discover card is a great card.

Re: Discover Card??

CelticCrafter — Thu, 02 Jan 2025 21:36:12 GMT

@Q-Checker wrote:
@CherryHugs i don't mean to preach but you need to take a long hard look at what purchases are on your card-- wants vs. needs -- and think of all future purchases in the same way until you are debt free. Not easy but it's critical to your financial future. And the blame is not with "inflation."

@Q-Checker that seems rather harsh, especially if someone is living on a fixed income and is having a hard time trying to make ends meet.

We used to be able to live on just my social security and save his and his pension. Not so anymore, we have to dip into the savings at the end of the month now.

Re: Discover Card??

Q-Checker — Thu, 02 Jan 2025 23:28:33 GMT

@CelticCrafter I have no idea about whether the OP is living on a fixed income or not. Anyone who is in serious credit card debt needs to take a long, hard look at what they are buying -- and whether they need it. I learned my lesson as someone in their early 20's who bought a coat on credit for $29 many years ago, just because I fell in love with it. When I later realized that, with interest, the coat cost $40, I never purchased any non-essential item on credit on a whim again. The item wasn't worth the $40, which was a fairly big chunk of money in those days, and I already had a warm coat, albeit not as good-looking as the new one. That little event taught me to pay my bills in full every month and avoid interest charges despite the level of my fluctuating income. Basically, I only bought what I could afford to pay for at the time and just bit the bullet to avoid the rest until I could afford it. The lesson stood me well. I didn't waste my money on paying interest on non-essential items and also got a side gig to increase my earnings until I did not have to. And I saved for the future -- which is now -- and I am financially comfortable.

I apologize again if this sounds preachy but if it helps the OP or even one other person to think differently about credit, then it is all good. Bottom line: short of an untoward actual real crisis your life, good money management is not about finding the best credit but about handling what you have in the best way.

Re: Discover Card??

skatting44 — Thu, 02 Jan 2025 22:47:32 GMT

Only way to get out of the debit is get a 2nd job or if retired take on a part time job till you have the card paid down significantly. Do not charge anymore on the card. Pay cash or check for utilities, food, prescriptions.

If you have family maybe someone will loan you enough to pay off a chunk of what you owe

Re: Discover Card??

Tori3569 — Thu, 02 Jan 2025 23:23:17 GMT

@Q-Checker wrote:
@CelticCrafter I have no idea about whether the OP is living on a fixed income or not. Anyone who is in serious credit card debt needs to take a long, hard look at what they are buying -- and whether they need it. I learned my lesson as someone in their early 20's who bought a coat on credit for $29 many years ago, just because I fell in love with it. When I later realized that, with interest, the coat cost $40, I never purchased any non-essential item on credit on a whim again. The item wasn't worth the $40, which was a fairly big chunk of money in those days, and I already had a warm coat, albeit not as good-looking as the new one. That little event taught me to pay my bills in full every month and avoid interest charges despite the level of my fluctuating income. Basically, I only bought what I could afford to pay for at the time and just bit the bullet to avoid the rest until I could afford it. The lesson stood me well. I didn't waste my money on paying interest on non-essential items and also got a side gig to increase my earnings until I did not have to. And I saved for the future -- which is now -- and I am financially comfortable.

Still harsh. Just because you "learned the lesson when you were in your 20s" it doesn't mean you need to immediately preach to others, unless specifically asked for that advice. The OP was just asking about a Discover card.

There are so many extenuating circumstances that factor into debt, such as hospital or medical bills, unexpected home repair costs or someone like my husband who lost his job recently and is having a very hard time finding another one. The debt issue doesn't apply to us, but I have no idea how long it may take for him to find another one.

Re: Discover Card??

Q-Checker — Fri, 03 Jan 2025 01:01:13 GMT

@Tori3569I did not mean to neglect the issues of extenuating circumstances -- and most of us will unfortunately have them, sooner or later. That makes it even more important not to stretch your money out buying non-essential things on credit. I believe in the old adage, "Save for a rainy day." Once the essentials are paid for, saving a portion of what's left, if there is something left, is important.