CC repayments query - prob a silly question?!

laurat

Hello - I've been reading these boards with great interest over the last couple of months and some of the advice on here has been of great help . (So its about time I posted!)

I'm currently using/stoozing on 2 cards, including Egg. Following all the advice on here, I'm using separate cards for BTs and purchases, and paying back the minimum monthly payments by DD on my 0% BT deals. However, I recently used my Egg card (normally just for BTs/SBTs) to make a purchase as there was a 20% cashback offer I was tempted by on their website!

Now, I am still within Egg's 0% period for both BTs and purchases, but just to be on the safe side I paid off the entire balance on Egg from my current account, as soon as the purchase showed up. Then as soon as my Egg balance showed £0, I re-SBT'd my credit limit to Egg from my current account.

This may be a silly question, as I'm 99% sure this was the right thing to do, but I'd be very grateful if someone could confirm that this will suffice in preventing any interest charges on the purchase popping up once my 0% periods are over? Or should I have waited until my statement date until I either cleared the balance or did a SBT again?

Thanks in advance
x

Martinslovechild

You could have waited until the end of the 0% deal, but what you have done certainly sounds like you won't be racking up any interest.

By the way - Egg also offer an 'Anniversary 0% Balance Transfer Deal', on the 1st anniversary of you having the card. With this offer, you must do the BT during the month of the anniversary and it lasts for 5 months at 0%, i.e. if your anniversary month is October, then you could do the BT on Oct 1st and the balance must be fully repaid by Feb 28th so as not to incur any interest charges. I mention this because some people on other threads (incorrectly) assume that you can do multiple 0% BT's at any time during the entire 5 month duration of the deal whereas BT's are treated as 0% in the first month only. So don't be tempted to do what you've done this time in month 3 for instance of the Anniversary 0% Deal.

laurat

Excellent, thank you

johnllew

Excellent, thank you  :)

Next time it might be a good idea to check first before you do anything, if you're not sure of the outcome.