- Centurion Member
- Posts: 234
- Joined: Wed Feb 18, 2015 9:04 pm
- Location: Texas
I agree, couldn't hurt to call them up and ask.
Another option I'm just putting out there, not necessarily recommending, would be to move the balance to the CSP card that is in your name and then do a transfer from CSP to Discover. For example you could shift all spending to CSP, but instead of paying it off in full, only pay the minimum and throw all payments at the Barclay card. Obviously I have no idea what your typically monthly credit spending and payments look like, but if it's fairly significant you could probably have the Barclay card paid down, and the CSP racked up, within 2 or 3 months. Then you could do the BT.
OR presumably the Discover is also at a 0% intro APR for purchases right? So you could just eliminate the CSP/BT step altogether. Charge absolutely every dime to the Discover, only pay the minimum, and apply all payments you would be applying to regular expenses to the Barclay.
If there's a balance transfer fee with Discover of 3% (I don't know what the Discover fee is, just guessing at this) and your Barclay balance is 5K, that comes $150 in BT fee. If you're paying about $120 per month in interest, then hypothetically if you're actually cycling 5K or more through your credit cards each month anyway (you did say you had a ton of work expenses), then you're actually a wee bit better off doing it that way anyway. If it only take about 2 months you're not all that much worse off (especially since your interest charges will be lower in the 2nd month when the balance has already taken a hit). Of course it's a losing proposition compared to a regular BT if it takes 3 months or longer, but if it's your only option still worth it.
As I said, I'm not actually recommending that approach because it could be costly depending on your APRs, and may negatively affect your credit depending on your limits and utilization (but then again that's true of conventional balance transfers too). I'm just throwing it out there as something you could consider if the numbers add up for you.