Transferring to an existing 0% interest card

cookie1979_2

Hi All

Wondered if you could help .... Ive currently got 0% interest on my barclay credit card until January/February 2014 (£3500 currently on it), if i transfer a further balance (£690) it is interest free until July 2013, if i pay what i transfer over (the £690) off before July 2013 does the rest of the balance stay at 0% until 2014? How does it work in July 2013?

Thanks - ive looked on BC website but nothing really answers this ...

k x

thenudeone

The rest of the balance will stay at the original offer.

BUT be very careful when trying to pay back when you have multiple 0% offers.

As long as the two offer balances are both at 0%, the bank can use your payment against any part it likes (subject to the T&Cs). It may allocate your payment against the part which still has months to run at 0%, leaving the other balance untouched, which will then start to incur interest charges once the 0% offer ends.

So always wait until 1 day AFTER the 0% offer expires before making a payment; then you know it will go against the correct balance.