Ive just spent on a balance tranfer CC - please help?

TELBHOY79

I made a purchase by mistatke on a CC that i recently got to do a balance transfer too. What are the implications for me here? It was for £50, and I have a current balance of £1077.

CLAPTON

Assuming you are within your credit limit.

It means you will pay interest on £50 each month until the total card balance is cleared. Assuming APR of say 25% then it means you pay about £1 interest per month.

Not really a disaster.

TELBHOY79

CLAPTON wrote: »

Assuming you are within your credit limit.

It means you will pay interest on £50 each month until the total card balance is cleared. Assuming APR of say 25% then it means you pay about £1 interest per month.

Not really a disaster.

But just dont make the same mistake too regular??

STRIPEDTSHIRT

TELBHOY79 wrote: »

I made a purchase by mistatke on a CC that i recently got to do a balance transfer too. What are the implications for me here? It was for £50, and I have a current balance of £1077.

it depends who the CC is with, if it's MBNA/VIRGIN and still has 0% on purchases (you said it's a recent card, does it still have it's introductory rates on?) from the opening date then you can pay the purchase off first. this will ONLY work if you have 0% on transfers and purchases, the purchases rate expires first and these rates started at the same time (hence why i asked if it was a new witht the introductory rates)