0% transfer offer question.

ch33sl3y

hi. I hope someone can clarify this for me as I'm a little unsure.

I have an MBNA card with a 0% balance on and a Barclaycard with a 0% balance on.

my Barclaycard 0% runs out at the end of this month and MBNA are offering me 0% on new transfers til Jan 2015.

so my confusion is if I transfer my barclaycard balance to mbna I will have 2 different end dates for 0% on the 2 balances. so when I make a payment will I be able yo specifically pay off the part of the balance with the earliest 0% end date?

sorry if this sounds confused I'm probably missing something obvious?

thanks for any help

delmar39

To be honest I don't know the answer to your question, why not give them a call to establish how it'll work?

Some things to think about:

What's the balance transfer fee of the MBNA card compared to the best deals available? http://www.moneysavingexpert.com/credit-cards/balance-transfer-credit-cards

If your 0% is coming to an end at the end of this month you'll need to move very quickly to shift the balance to another card if you're planning on applying for one rather than going with the MBNA deal.

Hope you get it sorted. I always try to get my balances onto one card, even though sometimes you have to transfer before the 0% rate ends.

Cheers

thenudeone

It all depends when mbna made the offer on which you transferred the existing 0% balance. If the 0% balance has been there for a few months you are probably okay.

mbna has an unusual rule for allocation of payments - if there is more than one balance at 0%, they will allocate payments to the offer which started first, which might or might not be the same as the one which ends soonest (which is normally what you would want).

Look here for the current card terms (it's possible your card is different) https://apply.mbna.co.uk/UKNeoCCapp/entry?wicket:interface=:0:components/linkToTermsPdf::IResourceListener::&null

BTW do not trust anything which an mbna customer service person tells you about this, even in an online secure message - they have told me wrong information on this subject before. Only your card's terms and conditions will show the correct order of allocation.

planteria

ch33sl3y wrote: »

so when I make a payment will I be able yo specifically pay off the part of the balance with the earliest 0% end date?

it will happen automatically, from my understanding. but call & check, and take the name and time and date.