Spending on a BT Card

Anitalouisa

I have just recieved the Barclaycard Platinum Card with a limit of 1200.

I also have two other CCs which I am paying off but one has a high interest level of around 30%. I originally got the Barclaycard to do a BT but had to use it to make an emergency purchase of £200.

I still wish to go ahead with the BT, and could clear the balance in two months max but don't wish to lose the introductionary offer, so can I set up the BT without clearing the balance first?

I've read that you pay back the highest debt first which would be the BT ~£700 but that also your purchase continues to accrue interest until you've paid the BT off and your payments do not go towards it?

Any help would be appreciated, I just hope i've explained myself clearly!

[Deleted User]

Anitalouisa wrote: »

I've read that you pay back the highest debt first which would be the BT ~£700 but that also your purchase continues to accrue interest until you've paid the BT off and your payments do not go towards it?

You pay back the highest RATE debt, not the biggest amount. So the purchases first if they're at standard rate.

Idiophreak

Deleted_User wrote: »

You pay back the highest RATE debt, not the biggest amount. So the purchases first if they're at standard rate.

Is this an actual thing now? I knew they were talking about it a couple of years ago, but never knew if they actually went ahead with it. I've always had different cards for spending anyway...

[Deleted User]

Yup, it's an actual thing now.

There's a few anomalies to look out for, but generally the highest rate gets paid off first.

Ben8282

So long as the purchase has actually appeared on a statement, all payments will go first toward the purchase first.

Anitalouisa

So to confirm, the monthly payments that I make go towards the purchase of £200 first and then once that is clear, I start re-paying off the BT?

Ben8282

So long as the purchases have appeared on a statement.

Anitalouisa

Thanks Ben!