bank rates

Discover Card Offers 0% Interest

If you carry a big balance on your credit card, or just got hit with a giant rate increase, consider transferring transferring your debt to a Discover More card.

You’ll pay 0% on balance transfers and new purchases until March 2010. That’s unusual. Most cards that offer cheap financing on balance transfers charge full rates on new purchases as soon as you open the account.

It also means that every dollar you pay goes to reduce your balance, making it easier to pay down your debt.

Other perks include no annual fee, free additional cards and a 5% cash back bonus for common purchase categories such as gas, groceries, restaurants and department stores.

The fine print: There’s a 3% balance transfer charge and once your interest-free year is up, you’ll be charged 10.99% to 18.99%, based on a review of your credit.

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Comments (3)
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3 Existing Comments
  1. BloggingBanks said:
    on February 23rd at 03:56 pm

    With the 3% balance transfer fee I guess I can’t uses this card for interest rate arbitrage…
    Do you know of any no-interest, no balance transfer fee cards?

  2. hallmonitor said:
    on February 24th at 05:14 pm

    the credit card section on bankaholic has some in their low interest section I think.

  3. Dollar Bill said:
    on March 7th at 01:16 am

    Most people will not be able to receive this offer.