Does a balance transfer count as the payment for a month?

thmb2000

Simpe question really.

Have just transferred a good proportion of the balance off my Barclaycard. Assuming the BT has gone through, does that mean the minimum payment for this month has been satisfied - or do I still need to make a payment?

Cheers

LeeSouthEast

A balance transfer to the card you take the balance OFF OF sees it as just a payment. So yes.

fozmcfc

I balance transferred from Egg to Virgin and that was it, they didn't take the £200 regular monthly payment I had set up, so yes.

jonesMUFCforever

I would check with the card provider to be on the safe side.

withabix

A balance transfer is just a payment, the same as any other payment.

The receiving card issuer just receives a payment via the banking system as usual.

moneysavingmarrow

Depends on your statement date and payment due by date.
If you have paid the minimum payment due on your last statement and your payment due by date has been and gone and your next statement is produced after you do the b/t then there will still be a minimum payment due on any balance showing on your next statement.
If you do the b/t and it clears before the due by date on your current statement, it would be classed as a payment.