Discover Card Brings Back the 12-Month Balance Transfer Offer!

I just learned today that the Discover More Card--American Flag Edition, has increased its 0% balance transfer feature to up to 12 full months. This is a pretty significant development given that credit cards over the past year or so have been taking away features and introductory rates, not adding to them. As a result, the Discover More Card (American Flag Edition) is one of just a few cards offering a 0% APR on balance transfers for 12 months.

There are several things to keep in mind with this balance transfer offer. First, it only applies to the American Flag edition of the Discover More Card. Discover has released a number of different versions of the Discover More Card (e.g., American Flag, Wildlife, Sealife, and so on). The terms of each of these cards are identical, at least until today. Now, the only difference I can see between these different versions is the 12-month BT offer with the American Flag edition. That's good news because it means you still get up to 5% cash back, 0% on purchases for up to 6 months, and no annual fee. The key is to make sure you sign-up for the American Flag edition, which you can do at www.discover.com/american-flag.

Second, like most all credit card offers today, Discover uses what is called risk-based pricing to set the credit card terms for individual applicants. That means, among other things, that the interest rate applied to the card after the balance transfer period expires will depend in part on your credit score. The good news is from what I can tell that the 12-month balance transfer offer applies to everybody who is approved for the card. Of course, credit card terms do change frequently, so be sure to double-check the terms of the offer before applying.

Finally, the offer comes with a 5% balance transfer fee. While in years past you could have done better, this is still one of the best balance transfer deals available. At 5%, it's still a good deal on a 0% transfer for up to 12 months.

If you'd like more information about the offer and to apply online, visit www.discover.com/american-flag.