Pay off transactions before doing BT?

MobileSaver

I'm all ready to do a Balance Transfer to take advantage of a 0% rate when I realised there'll be existing transactions on the next statement.

So, I've £1000 on this month's statement which I'll pay in full as normal but there's also £200 of transactions accrued since which I'd normally pay next month.

If I do a BT now then I'm pretty sure I'll be paying full whack interest on that £200 until the BT is paid off.

If I overpay this month to cover the additional £200 then when's the earliest I can do the BT? As soon as I get my next statement? earlier? or not until the following statement?

Thanks in advance for any suggestions.

Moggles_2

If I overpay this month to cover the additional £200 then when's the earliest I can do the BT?

Hi there

You've got the right idea.
You'll be able to do the BT as soon as you've cleared your balance. No need to wait for your next statement.

You don't say which card this is, but if you're unable to check your balance online, why not phone customer services and ask? The number to ring is usually shown on the reverse of the statement. You should be able to check that your balance is nil and request the balance transfer with one telephone call!

poppy_f1

Moggles wrote:

Hi there

You've got the right idea.
You'll be able to do the BT as soon as you've cleared your balance. No need to wait for your next statement.

i'd comfirm this with the cc company as barclaycard advised me to wait til my next statement was generated showing a 0 balance before doing a BT

Moggles_2

Well, it depends.

I assume you've kept a record of your transactions and know how much you've spent. Also, that you know the date of your last transaction.

If, on the other hand, that £200 is an approximate figure and you're unsure when you last used the card to make a retail purchase, then customer services may well advise you to wait for the next statement!

Btw, which card is it?

MobileSaver

Thanks all for the useful replies.

I do know the exact figures from the online statements, I was just using round figures for ease.

It's the Halifax One card, I'll pay off the entire current balance including items that would normally appear on next month's statement, and then double check with Halifax that my balance is indeed zero and thus no interest will be payable.

Moggles_2

You should be fine.

Very best
M.