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HSBC 0% Balance Transfer
cc_user
Posts: 9 Forumite
in Credit cards
All,
I'd like to tap into some of your wisdom! I have recently been offered a 0% for Balance Transfers for 9 months by HSBC. I currently have the following
Barclaycard Platinum (£8900 limit)
£3500 @ 17.9% (standard variable)
£3000 @ 5.9% (for life of balance)
HSBC (£7500 limit)
£2000 @ 21.9% (standard variable)
If i transferred £3500 from Barclaycard to HSBC, would the following assumptions be correct?
(1) Barclaycard - The £3500 would come from the 17.9% part of the balance as payments are supposed service the most expensive part of the debt first?
(2) HSBC - Following the transfer, will my future payments to HSBC service the current 21.9% part first based on the assumed principle in (1)?
Many, many thanks for your time!
I'd like to tap into some of your wisdom! I have recently been offered a 0% for Balance Transfers for 9 months by HSBC. I currently have the following
Barclaycard Platinum (£8900 limit)
£3500 @ 17.9% (standard variable)
£3000 @ 5.9% (for life of balance)
HSBC (£7500 limit)
£2000 @ 21.9% (standard variable)
If i transferred £3500 from Barclaycard to HSBC, would the following assumptions be correct?
(1) Barclaycard - The £3500 would come from the 17.9% part of the balance as payments are supposed service the most expensive part of the debt first?
(2) HSBC - Following the transfer, will my future payments to HSBC service the current 21.9% part first based on the assumed principle in (1)?
Many, many thanks for your time!
0
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Yup. .0
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