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Does a balance transfer count?
woodybuzz
Posts: 105 Forumite
in Credit cards
I am about to move a partial balance from MBNA to a new (interst free 12mth) card I have been offered by Lloyds. Will the balance transfer (taken from MBNA) count as a "payment" or will it simply remove a chunk of the balance and then reduce the monthly payment accordingly?
Hope this makes sense
Hope this makes sense
0
Comments
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Yes, so long as its received and cleared between the statement date and it's respective payment due date.Will the balance transfer (taken from MBNA) count as a "payment"
Be aware that if you have a minimum payment DD set up with MBNA they will still claim it, regardless of the BT.0 -
Thanks Yorkshire Boy - its all in the timing then!0
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