How do i transfer a balance from a hi rate card to a lower rate card without having an inquiry on my report?From orchard bank about 18% to capital one about 12%.thanks.

If you already have a Capital One account, call them and ask to do a balance transfer. If you already have an account open, there will be no inquiry on your credit report.

afaik, there are no inquiries made on your credit report when you want to do a balance transfer. there will likely be a fee levied by the destination (capital one).

How do i transfer a balance from a hi rate card to a lower rate card without having an inquiry on my report?From orchard bank about 18% to capital one about 12%.thanks.

Well, I must have not read them very well, but it's okay. I know that I don't have any way of getting that waived. I was going over the terms and conditions and must have missed it.

Sorry to say this but you should've read that in your terms and conditions before applying for the card because when you get approved for the card, you would've agreed to pay that fee.

It's just the fact that I never heard of this. It just took me by suprise.

There are two things that you have to consider when making a balance transfer and what the main reason is for doing one. The 0% for 12 months is most likely the APR rate you're getting. You could be paying somewhere between 19% to 24% interest every month on the balance you owe. But with the balance transfer to a card with 0% interest, you're not being charged interest like you are on the other card. The second thing you have to look out for are transaction fees. Most banks charge you 3% transaction fee for every balance transfer. I don't know how Discover cards work but this is how BofA, HSBC, and WaMu work.

i am not aware of discover cards but i think you might have misunderstood their policies if not, you should contact them asap and get your deducted funds back.

I have just gotten my Discover card and taking advantage of the 0% for a year on balance transfers. I'm doing that to pay down my credit card debt and as I was doing this over the phone and reading all the stuff that came with it, there was a $21 dollar one time charge. I transfered two balances and it came to $42. Is there a reason why that they do this? I was on my break when I was doing this and didn't get the chance to ask