New 0% APR Balance Transfer Offer from Discover

I’ve been updating my list of the best 0% APR Balance Transfer offers about once a month as offers expire, but this month I actually came across a pretty good one - 0% APR interest for both purchases and balance transfers for 10 months with the Miles Card by Discover. No annual fee, and no balance transfer fees either. All the other Discover cards currently have balance transfer fees except for this one. I guess they’re pushing this card right now, so I’m not sure how long this will last.

On top of everything, you get 5,000 of their “Miles” after your first purchase. You get 1 Mile for each $1 in purchases otherwise. Airfare rewards start at $100 travel credit for 10,000 Miles. The nice thing is that you can actually get this bonus while also taking advantage of the balance transfer since both are at 0% APR for the 10 months.

Note that finance charges are applied using the “Two Cycles Average Daily Balance” method, which is a more costly method in applying finance charges for those who occasionally carry a balance, as compared to the “Average Daily Balance” method used by most credit card issuers. But, if you only carry a balance at 0% and pay it off in full at the end, then this shouldn’t affect you.

At current interest rates, for every $10,000 of balance you transfer you can arbitrage out $250-$300 out of this offer, plus you’re halfway to a $100 travel credit. Not bad. Or you could just get it and buy stuff interest-free for 10 months. Not that I condone that, of course.

Bookmark or Share:
These icons link to social bookmarking sites where readers can share and discover new web pages.