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How do I know I'm transferring the higher % from one card to another.
Hannaboob
Posts: 1 Newbie
in Credit cards
I have a query, i have a credit card with £500 credit payable at 28% and an additional £500 transferred over on 0% until October. I've now been offered 0% balance transfer on a different credit card so I'd like to transfer the £500 that I'm paying the higher interest on. But how do i know this is the amount I'm going to be transferring and not the amount that's current,y interest free?
I've tried calling the credit card and I've been given 2 different answers, to be honest I'm not sure they were convinced themselves but just wanted me off the phone
Any help hugely appreciated
Hannaboob
I've tried calling the credit card and I've been given 2 different answers, to be honest I'm not sure they were convinced themselves but just wanted me off the phone
Any help hugely appreciated
Hannaboob
0
Comments
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In theory any payments to an account HAVE to pay off the MOST EXPENSIVE debt first, your £500 Balance Transfer should pay off the higher balance first!
http://www.which.co.uk/news/2011/01/new-rules-to-speed-up-payment-of-credit-card-debts-240548/I have numerous qualifications in Business and Finance, Accountancy, Health and Safety and am now studying Law.
Don't rely on anything I write as it may be wrong!!!0
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