Question about balance transfer

Mondy

I have recently taken out a Barclycard and transferred the majority my outstanding Halifax balance to it. My Halifax card still has £30 to be paid off but its saying that my minimum payment due this month is £65. Does this mean I still have to pay the £65 or can I just pay of the remaining £30.

Amount transferred was £2800.

Cheers!

thebritishbloke

You will still have to pay £65 IIRC, but you can then ask Halifax to refund the difference. If you're wanting to close the Halifax account, phone Halifax and ask to settle your account.

JimmyTheWig

Did the transfer happen since your last statement?
If so, you have paid at least the minimum payment (they needed £65 but you paid £2800) and so technically don't need to pay any more.
But getting the balance down to zero is a good idea, particularly to avoid ongoing interest, to pay the £30.

If the transfer had happened before the statement (i.e. statement said balance was £30 minimum payment was £65) then I don't know what's happening.

Mondy

Balance transfer happened on the 3rd and my payment due date is the 19th so happened between statements. My initial thought is I would have to pay the £65 as it is the min payment plus the interest?

Maybe calling them is easier.

JimmyTheWig

When was the statement date?
What was the balance on the statement?

Mondy

Statement Date: 25th August
Balance: £2793
Next Months Est Interest: £39.22
Min Payment Due: £63.61

JimmyTheWig

As far as I am concerned, then, the Balance Transfer has well and truly paid the minimum payment.
You could pay nothing more and still have met the minimum payment. Though, as I say above, it would be best to clear it as soon as you can.

Contact them if you want peace of mind, but I can't see this as being any different to you having made the £2800 payment yourself.