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My daughter did a $4850.88 balance transfer from AMEX over to Discover, for the advantage of 0% interest for 12 months. The transfer fee was $145.53, so now total Discover card balance is $4996.41.

Her minimum AMEX payments were $49/month. Her minimum Discover payments will be $100/month!

I admit to being quite surprised at the difference in these 2 minimum payments. Do individual credit card companies set their own 'payment scale'? Sadly, had she known of the significant difference in minimum monthly payments, she would have never applied for the balance transfer, as this increased monthly payment will impact budget.

Concerned Mom,
Apacherose
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