The credit card issuers can amend your agreement. However, most would let you pay off under old terms if you do not use the account any more. Which presents a problem under this particular offer - I wonder if they'd be required by law to extend you 0% for life without requiring minimum purchases

comsci03 said:If Discover change their term later on and discontinue the 0 APR in later year then what can we do. Because on fine print they stated that they reserved the right to change or discontinue the promotion anytime. ??????
For people with 20K+ transferred to Discover and now the change in APR will definitely kill them. Is there anyway to prevent or fight this?
That'll be dangerous isn't it?

Hi you all!!!

I never do BT before. This is my first time. I called Discover and the CSR told me that I need to have the account # and amount to transfer. I don't have any debt from CC. What should I do? I just want to use that money to do something else like put in CD or money market.

Thanks for the answer.

comsci03 said: Me and my wife owe 60K in equitity and the rate jump so fast, we're thinking about transfer these to discover in 2 accounts but if they change the APR BT promotion later on we'll be screws.

What you guys think?


I doubt they'll change the APR on you, and you can probably claim bait and switch. I assume terms usually change for purchase and transfer in the future. The BTs are under the terms of the contract during the time at which the transfer was made.

As for being screwed, you still have an out. Assuming your 60K is a HELOC, as long as your draw period on you HELOC still has a good amount of time, you can always put the money back on the HELOC or simply apply for another HELOC as they are usually easy to get and rarely have fees associated with them upfront. I have transferred my entire heloc to fixed for life rate CCs from 0% up to 3.9%. Should I find myself in a cashflow problem, I can either make payments from my heloc or transfer the debt back to my HELOC to reduce the monthly payment obligation.

Now with rates moving up, if I could only get a 0% BT large enough to generate enough monthly iterest to make the minimum payments. Then I can just put it all on autopilot until rates drop again or until the debt is paid.

bwj321 said:What is the minimum monthly payment for these offers (as a % of the balance)?

2% on my January statement

Bump

Hi, EugeneV

I had to fight for my 10k miles - I applied with that code. However, after they investigated, they credited me 10k miles (on the third try)

Any new codes?

EugeneV said:Has anyone applied for the Discover Miles card (Invitation #FKVR) and NOT received the 10,000 bonus miles?