Doubled my debt?!?!

Options
aj3001
aj3001 Posts: 730 Forumite
in Credit cards
I arranged yesturday for a BT from two of my credit cards to a third, the money is now showing in the third account as well as the first two! Have I done something wrong and doubled my debt?

Comments

  • RTNI
    RTNI Posts: 817 Forumite
    Options
    aj3001 wrote: »
    I arranged yesturday for a BT from two of my credit cards to a third, the money is now showing in the third account as well as the first two! Have I done something wrong and doubled my debt?

    No, what has probably happened is that the request has been put through by the 3rd card company, thus reducung your available credit with them. They have (or will be) sending the monies to the other 2 cards that you requested, and will show up with them in around 7 working days.
    Regards, Robin.
    2011 MFW # 34
    Mortgage starting balance at Sept 09 - £127,224 on 30 year term. Currently balance approx £116,945 (Updated Jan '12)
    Estimated MFD - [STRIKE]Sept 2039[/STRIKE]    , April 2031 (in progress!)
  • daveboy
    daveboy Posts: 1,400 Forumite
    First Post First Anniversary Combo Breaker
    Options
    Nothing to worry about....it sounds like a swift way of the lender you've moved to making a bit more interest from you. It's happened to me before...give it a few days and the payment from your new lender to the old ones will show in those accounts.
  • aj3001
    aj3001 Posts: 730 Forumite
    Options
    A way of getting more interest eh? Does it surprise anyone the third company is HSBC?
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.8K Banking & Borrowing
  • 250.3K Reduce Debt & Boost Income
  • 450K Spending & Discounts
  • 235.9K Work, Benefits & Business
  • 609.1K Mortgages, Homes & Bills
  • 173.4K Life & Family
  • 248.5K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards