Does a partial transfer cover a minimum payment?

room512 · 12 June 2012 at 9:44AM

Hypothetically, If I had a credit card with £1000 on with a high APR and another credit card with a 0% APR and I transferred £500 from the high one to the zero one, then would i still need to make a minimum payment that month on the high APR one? Thanks in advance for any help x

NickX · 12 June 2012 at 9:57AM

I don't actually think that the card providers can differentiate from payments sent directly from the card holder from those sent from competitive card providers. So, as long as the Balance Transfer processes before the payment due date and covers at least the Minimum Payment then I think this would work. Watch out for delays in the Balance Transfer processing though !!

room512 · 12 June 2012 at 10:23AM

I figured if I made a payment this month, then wait for the payment to clear and then do a transfer I should be safe - any idea on how long transfers take please? Never done one before! As long as it doesn't take 4 weeks, I should be okay!