if you do a balance transfer at 0 % then make a purchase do you still get the 0%

mercedes125

if you do a balance transfer at 0% for 17mths and the you use the card to pay for something would you still be able to pay the balance transfer off at 0%.

another_girl

Basically yes, but you may still have to pay interest on the purchase depending on the card's terms.

For example, say the purchase is charged at 17%, and the balance transfer remains at 0%. You would have to pay interest on the amount of the purchase at 17% until you pay it off.

Payments you make are likely to go towards clearing the purchase first - as the rate is higher - however you should check your terms to be sure (for example, it may be different if you're also in a 0% purchases period).

I hope that helps!

CLAPTON

best not to mix purchased with BT unless both have exactly the same terms

get a second credit card for spending

*Scarlett

It used to be that c/c companies used your payment towards the debt with the lowest interest rate but I believe that this has changed with most companies.

Check your terms and conditions or give them a ring.

thenudeone

*Scarlett wrote: »

It used to be that c/c companies used your payment towards the debt with the lowest interest rate but I believe that this has changed with most companies..

This is true, but it doesn't change the fact that using a card which has 0% offers on, for normal purchases, will lose you the normal interest free period on purchases.

Purchases are only interest free if you pay the FULL statement balance (not just the purchases) every month. Obviously if some of the balance is at 0%, you will not be paying the FULL statement balance every month, so you will be charged interest from the date of each purchase until it's paid off.

If you used a separate card, you wouldn't be.

chattychappy

CLAPTON wrote: »

best not to mix purchased with BT unless both have exactly the same terms

get a second credit card for spending

thenudeone wrote: »

Purchases are only interest free if you pay the FULL statement balance (not just the purchases) every month. Obviously if some of the balance is at 0%, you will not be paying the FULL statement balance every month, so you will be charged interest from the date of each purchase until it's paid off.

If you used a separate card, you wouldn't be.

Agree it is *usually* better to put purchases onto a separate card, but this isn't always the case. It does depend on the OP's other finances. If the OP has interest bearing balances elsewhere, it can be better to put purchases on this card (at least up to the amount of the minimum payment). This way for the sake of, say, 2-4 weeks' purchase interest, the OP will gain months of additional balance at 0%. (The payment that would otherwise pay the 0% balance down is "diverted" towards purchases. The benefit accumulates month by month. This allows other monies that are available to be put towards the interest bearing balance elsewhere. If purchases were put on another card and cleared monthly then less of these monies would be available. True there would be a monthly interest saving - no purchase interest - but this would be a relatively fixed amount each month.)