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  • FIRST POST
    • AJ84
    • By AJ84 8th Sep 17, 8:42 AM
    • 140Posts
    • 35Thanks
    AJ84
    Balance Transfer query
    • #1
    • 8th Sep 17, 8:42 AM
    Balance Transfer query 8th Sep 17 at 8:42 AM
    Hi all,

    In short, there is a card with 4 balance transfers on it. The amount going in will settle 3 of these within the expiry of each of the balance transfer offers. The 4th one will miss it by a month ... maybe two which means up to 2 months interest.

    If I transfer out the balance just for the 4th balance transfer OUT of the card to another card, would that work or would it take the amount from the end of the overall balance?

    for instance and this is just random figures:
    BT1: £1000 0% until Jan 2018
    BT2: £1000 0% until April 2018
    BT3: £1000 0% until June 2018
    BT4: £1000 0% until June 2020

    BT 1 and BT 2 will be paid off within the period.
    BT3 however won't be - if this is removed and moved to another card, BT4 will be paid well within the balance transfer period.

    So if I remove the BT3 amount to the penny to another card, does that do the trick or would it in actual fact remove it from the balance of the total outstanding?

    It's not a huge issue - if it can't be done, I'll just pay in more but it was just a thought

    Thanks all.

    PS: the transfers were done in that order too so the newest BT would be BT 4 and the oldest being BT1
Page 1
    • zx81
    • By zx81 8th Sep 17, 9:02 AM
    • 13,192 Posts
    • 13,509 Thanks
    zx81
    • #2
    • 8th Sep 17, 9:02 AM
    • #2
    • 8th Sep 17, 9:02 AM
    Essentially, payments will be allocated according to the terms.

    So if the terms apply payments to the BT ending first, all payments will go through in that order. You couldn't clear BT 3 before 1 or 2.
    • AJ84
    • By AJ84 8th Sep 17, 9:09 AM
    • 140 Posts
    • 35 Thanks
    AJ84
    • #3
    • 8th Sep 17, 9:09 AM
    • #3
    • 8th Sep 17, 9:09 AM
    Ah I see - thanks for the quick reply, I'll dig out the statement and see if it states it on that
    • Dobbibill
    • By Dobbibill 8th Sep 17, 6:06 PM
    • 2,295 Posts
    • 3,417 Thanks
    Dobbibill
    • #4
    • 8th Sep 17, 6:06 PM
    • #4
    • 8th Sep 17, 6:06 PM
    The providers website should also tell you about allocation of payments.
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