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Is this a good balance transfer offer?

Discover More credit card is offering a 0% for life on a balance transfers with a 3% balance transfer fee but starting in December I have to charge $50 every month or I lose that rate. Is this a good offer? I would like to transfer over $10,000. Also I called to see if they could cap the balance transfer fee and they said no. Has any one had any luck on Discover capping their fee. Thanks.
I will be paying about $500 a month to pay down the balance transfer. If you think this is a bad offer can you please explain why.

It would depend on what the terms are for the new purchases. I assume they are going to allocate your payments to the 0 percent balance transfer. That means that starting in December you’ll be adding at least $50 to your balance and at some rate of interest. If you follow through on your plan to pay $500 per month you’ll pay back the 10k in 21 months (the last month being the $300 balance transfer fee). Assuming this all starts in May you’ll have one year of building up $50 per month and interest. That’d be $600 of principal plus however much interest all those months added up to. Assuming say 15 percent that’d still only be around $100.

So I’d say if you are sure that you won’t spend more than the $50 they require of you this sounds like a good deal. If you think you’d continue to spend more than the $50 you will be building up another debt at interest while paying off the first one.

Financing a Home w/Horrible Credit is not hard to do