Balance transfers and orders of payment

sarahs999

I know that the new rules mean CC companies have to bias your payments to pay off the highest-interest items first.

What happens if you have, on card A, a sum of say, £2000 which is acruing interest, and a sum of £3000 which is on a BT rate of 0%. If you then try to BT £2000 from card A to card B, do the rules oblige the company to transfer the £2k that's earning interest, or can they get round it?

Thanks

YorkshireBoy

A payment is a payment. It matters not whether it comes from your own bank account or is sent by "card B"

sarahs999

Sorry, don't understand your reply.

I want to know if it would be possible to balance transfer the chunk of money that would be generating interest off the card, leaving only the 0% generating chunk behind.

billymadbiker

I am pretty sure the transfer just shows up as a 'payment' to the card being credited.

So, yes, this 'payment' should then be alocated against the most expensive debt.

sarahs999

Thank you. GOod to know.