Discover is lowering the balance transfer fee again on its popular 0% 18 month balance transfer offer.
Beginning June 1, the fee will drop from 4% to 3%, which can equate to some serious savings if you’re in the market to transfer a large credit card balance.
It was 5% several months back, so the deal keeps getting more and more enticing, though this is probably the floor for a while.
Don’t expect a no fee balance transfer for more than 12 months, if it all. Although stranger things have happened…
So how much can you save?
Well, if you plan on transferring say $2,000, the balance transfer fee would drop from $80 to $60.
We know – fees are no fun, but neither is paying interest on your credit card debt each and every month…
And it still comes with 0% APR for a full 18 months on balance transfers (6 months on purchases), making it one of the best balance transfer offers out there at the moment.
There’s no annual fee with the Discover More Card – 18 Month Promotional Balance Transfer, and you can earn cash back in popular rotating categories such as gas, groceries, restaurants, and more.
But obviously the draw with this credit card is the extended 0% APR period, which is one of the longest available aside from Citi‘s 24-month balance transfer offer.
So if you don’t currently have a Discover card, and a balance with a rival credit card issuer, this could save you some cash by avoiding pesky credit card finance charges for a year and a half.
Read more: Current Discover balance transfer offers.