Discover has upped the ante, pushing their 0% intro APR period on balance transfers to a full 21 months, up from just 14 months previously.
If you’re keeping track, that’s another seven months to enjoy no finance charges (interest) on your credit card debt. That could equate to a lot of savings depending on your debt load.
This also means Discover is now in line with Citi, which is the only other major credit card issuer to offer 0% APR for as long as 21 months.
There is the Sphere Card from Santander Bank that comes with 0% APR for a slightly longer 24 months, but you have to apply at a branch. And they only have branches in eight states nationwide…so most people can’t take advantage of it.
Discover it Card 21-Month Balance Transfer Offer
The Discover it Card now comes with 0% APR for 21 months on balance transfers and 0% APR for six months on purchases.
Be sure to do a search for this specific offer online because Discover doesn’t seem to be advertising it openly on their own website for some reason. They’re still displaying the old, inferior 0% APR for 14 months offer.
It shouldn’t be hard to find the new 21-month offer with a quick Google search, just check the terms on the application landing page to ensure you don’t apply for a lesser offer!
And don’t worry about the purchase part because you it’s not recommended to mix up new purchases and balance transfers on the same card.
Just know that you get nearly two years to pay down your existing credit card balances that you transfer to Discover, including any Citi credit card balances you may have that barred you from taking advantage of the similar Citi balance transfer offer.
As you might expect, there is a 3% balance transfer fee associated with this offer, which equates to $30 for every $1,000 you transfer to the card. Still, it beats paying an interest rate in the teens or 20% range, right?
Keep in mind that the Citi 21-month offer comes with 0% APR on purchases AND balance transfers with a 3% fee, so it’s slightly better if you want to make new purchases (not recommended) with the card.
And obviously the Citi offer works if you need to transfer existing Discover credit card debt because you can’t transfer within the same bank.
But this gives you another long intro offer to work with to tackle that debt!
Read more: See all Discover balance transfer offers.