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Balance Transfer Confusion
AndyPandyPoos
Posts: 23 Forumite
Hello.
Im confused over a balance transfer I made with a new Barclays CC, and their branch in India weren't particulary helpful...
I took out a new CC around 13 months ago, and made a single transfer of aorund £1000. My Dec statement had my remaining balance, say around £200, with payment due 5th JAN (TODAY! - its ok MP is by DD)
It also has 'Interest on your BT at 0.000% to FEB2010 = 0.00
My question - is DEC's statement / JAN's payment (today's) the final payment before they start charging interest, or would it be FEB's statement / MAR's payment?
Note I have not made ANY purchases on this card, its still in the envelope!
Outstanding balance is around £200, so are they are going to start interest from next month, would it be on the outstanding £200, or would they base it on the initial £1000 BT!? :eek:
Please help.
Many Thanks
Im confused over a balance transfer I made with a new Barclays CC, and their branch in India weren't particulary helpful...
I took out a new CC around 13 months ago, and made a single transfer of aorund £1000. My Dec statement had my remaining balance, say around £200, with payment due 5th JAN (TODAY! - its ok MP is by DD)
It also has 'Interest on your BT at 0.000% to FEB2010 = 0.00
My question - is DEC's statement / JAN's payment (today's) the final payment before they start charging interest, or would it be FEB's statement / MAR's payment?
Note I have not made ANY purchases on this card, its still in the envelope!
Outstanding balance is around £200, so are they are going to start interest from next month, would it be on the outstanding £200, or would they base it on the initial £1000 BT!? :eek:
Please help.
Many Thanks
0
Comments
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To get the definite end date of your BT promo you would have to contact the bank. After this expires you will be charges interest on the balance now0
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To get the definite end date of your BT promo you would have to contact the bank. After this expires you will be charges interest on the balance now
So to put my mind at ease, is it true that AFTER the Balance Transfer offer ends, they will only charge the interest on the remaining balance.. in my case £200. ?0 -
That is correct0
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