Opinions please.

walzingmatilda

I have asked this Qn before but got referred to my T&C's but don't fully understand so if someonle could help me that would be lovely.

I have £3600 on an MBNA 0% until April 2012 by this time hoping to have £1500 outstanding.

I also have £1500 on a Halifax Card, at a rate of 20.9% APR....Gosh!

MBNA have sent me an offer to carry out a further balance transfer to my card up to £2000 at a 0% rate until June 2012. Should I have two balance transfers on one card ending at different times?

LMCD

why not?! am only assuming you will be able to pay more off quicker if you aren't paying such a high apr on another card.. what is the interest rate after the 0% is up?

Fruit_and_Nut_Case

walzingmatilda wrote: »

Should I have two balance transfers on one card ending at different times?

I'm not quite sure of what's on your mind.

Are you asking if it is a good idea for you to have two BTs? If it suits your purposes, why not?

Or are you asking if MBNA are correct to offer non-concurrent BTs? That's just the way they work sometimes.

YorkshireBoy

walzingmatilda wrote: »

I have asked this Qn before but got referred to my T&C's but don't fully understand so if someonle could help me that would be lovely.

It was me that referred you.

Your question was "which one gets paid off first?"

My reply was to check your T&Cs, specifically condition 2g. Your own may be different to those currently on their website for new customers, so there's no-one here that can help you. Condition 2g for new customers states...

2g If interest is charged at the same rate on different parts of the total balance on your account (for example, two transaction types which accrue the same rate of interest), then your payment will be allocated as follows:

. if your account has a promotional offer interest rate and a standard interest rate which are the same, then, we will first pay that part of the balance which is charged interest at the promotional offer interest rate;


. if different parts of the balance have the same promotional offer interest rate, then we will first pay off that part which has the earliest promotional offer start date; if different parts of the balance have the same promotional offer interest rate and the same promotional offer start date, we will first pay off that with the highest standard interest rate;

. if different parts of the balance have the same standard interest rate, or if after having applied your payment as set out in paragraphs 2f and 2g there is still a balance on your account, we will apply your payment to the different parts in the following order: card purchases, balance transfers, cash transactions, money transfers and cheque transactions.

I would suggest the second bullet applies to your balances, namely the offer with the earliest start date is repaid first.

BUT CHECK YOUR OWN PERSONAL T&Cs!!

walzingmatilda

YorkshireBoy wrote: »

It was me that referred you.

Your question was "which one gets paid off first?"

My reply was to check your T&Cs, specifically condition 2g. Your own may be different to those currently on their website for new customers, so there's no-one here that can help you. Condition 2g for new customers states...I would suggest the second bullet applies to your balances, namely the offer with the earliest start date is repaid first.

BUT CHECK YOUR OWN PERSONAL T&Cs!!

I wans't having a pop, I appreciated the advise. I understood your answer the first time you told me in my original thread, no need to come along and post it in capitals this time.

I wanted people's opinions as to whether it is wise to have two BT's on one card with different expiry dates of the 0% offer. I dont want one sum locking in on high interest whilst I am paying off the 0% sum.

Thanks.

YorkshireBoy

walzingmatilda wrote: »

I understood your answer the first time you told me in my original thread

You said in the opening sentence in this thread that you didn't "fully understand", hence my more detailed reply. So you looked at condition 2g in your own T&Cs then? What does it say?

no need to come along and post it in capitals this time.

It was for emphasis (nothing more), because I didn't want you to assume anything and come unstuck.

walzingmatilda

YorkshireBoy wrote: »

You said in the opening sentence in this thread that you didn't "fully understand", hence my more detailed reply. So you looked at condition 2g in your own T&Cs then? What does it say?It was for emphasis (nothing more), because I didn't want you to assume anything and come unstuck.

It's not that I didn't understand your advise, I don't fully understand the T&Cs. My T&Cs are the same as they are currently.

In the point below it does not mention what happens when one rate expires and one 0% is still running, what happens at this point?

"if different parts of the balance have the same promotional offer interest rate, then we will first pay off that part which has the earliest promotional offer start date; if different parts of the balance have the same promotional offer interest rate and the same promotional offer start date, we will first pay off that with the highest standard interest rate"

cashsaver1_2

Can anyone please tell me if the free £5 mastercard chargecard offer is on today. Was sent an email re this from MSE, but now cant find any info about it on this site.

Please Help.:money:

Tixy

cashsaver1 wrote: »

Can anyone please tell me if the free £5 mastercard chargecard offer is on today. Was sent an email re this from MSE, but now cant find any info about it on this site.

Please Help.

The orange one? - last week I'm afraid, all went in about 30mins or something.

YorkshireBoy

walzingmatilda wrote: »

In the point below it does not mention what happens when one rate expires and one 0% is still running, what happens at this point?

"if different parts of the balance have the same promotional offer interest rate, then we will first pay off that part which has the earliest promotional offer start date; if different parts of the balance have the same promotional offer interest rate and the same promotional offer start date, we will first pay off that with the highest standard interest rate"

Covered in the preceding condition (2f). The balance that was previously 0% is repaid first.

cashsaver1_2

Tixy wrote: »

The orange one? - last week I'm afraid, all went in about 30mins or something.

Thanks for the reply. Looks like im a week late then. lol.

At least i can stop scouring the web then.:beer: