We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Allocation of payments, help!!
jockass
Posts: 12 Forumite
in Credit cards
I have a 0% balance transfer offer through from my bank for 10 months with 0% handling fee. I currently have £1,500 outstanding on the account and wish to transfer over the balance of another card to this one using the offer. My allocation of payments detail is as follows:
1. Interest on special offers
2. other interest fees and charges
3. special offers shown o the statement
4. purchases and balance transfers shown on the statement
5. advances and money transfers
My question is will i be paying of the 0% balance transfer first or the £1500 debt already on the card? My thinking is it will be the £1500 as this is a special offer with 0% interest. am i correct??
Cheers
Jock
1. Interest on special offers
2. other interest fees and charges
3. special offers shown o the statement
4. purchases and balance transfers shown on the statement
5. advances and money transfers
My question is will i be paying of the 0% balance transfer first or the £1500 debt already on the card? My thinking is it will be the £1500 as this is a special offer with 0% interest. am i correct??
Cheers
Jock
0
Comments
-
You will be paying back the 0% offer first.
Until the 0% transfer is clear you will be incurring the standard APR on the full £1500 balance already on the card, every single month
Cashback Earned ¦ Nectar Points £68 ¦ Natoinwide Select £62 ¦ Aqua Reward £100 ¦ Amex Platinum £48
0 -
thanks izools!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.6K Work, Benefits & Business
- 603K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards