Payment Allocation Question

Andyt1981

Hello,

I've got a Nationwide CC that has 20 months at 0% for Balance Transfers, and 12 months 0% on Purchases.

I know that higher interest balances are paid off first, but obviously both are at 0%. I asked NW directly but they didn't give me a clear answer. Obviously, I'd like my payments to be allocated to any purchase balance first.

UsetheFORCE

Payments SHOULD go off the shortest term first...i.e. the 12 month purchases 0% as this is the one that will attract interest soonest.

Hominu

If you've balance transferred, then payments made before statemented transactions may go towards paying off your balance transfer regardless of its interest rate (so to pay off purchases, you need to make the payment after the statement is produced).

Read the T&Cs before spending on the card, or better yet, don't spend on a card that you've transferred a balance to!