MBNA platinum card

FannyHill

I have an MBNA credit card.
I have no purchases on it.
I have a couple of balance transfers from other credit cards on it.
One balance transfer with the promotional rate of 0.2425 % interest ends in April this year.
Another more recent balance transfer of 0 % ends in Oct 2010.

I pay about £200 a month to pay it off.

Does this pay off the lower or higher interest first.

If it pays off the 0% interest first I'll have to get in quick before April and pay off the whole amount otherwise I'll be paying the regular interest rate from April.


Thanks for any advice.

CannyJock

Current T&C's for their Virgin card say:

Allocation of payments

If you do not pay your balance in full we will use your payments:

• to reduce lower rate balances before higher rate balances.

If introductory rate balances are the same we will repay them as follows:

• the one which expires first; then
• if expiry dates are the same - the one which started first; then
• if the expiry dates, and start dates are the same - the one with the lowest standard rate.

Take a look at the back of your statment or phone their CS people if in doubt.