What comes first? The balance transfer or the payment amendment?

shandybandy

Hi
Never posted here, so hope this is ok. Not great at this whole credit card malarkey

I had £947 outstanding on my Barclay Card making min. repayments each month

Received of an offer for 18 months 0% interest for balance transfers to my Halifax card and decided to transfer the whole lot over

So i made the application this morning without realising that my Halifax card is set to repay in full each month, i have now changed to minimum repayments but it won't come into effect until after the next statement.

Question is will my transferred balance come out under this months statement or the next?

My next Halifax statement is due 25/10/14. Is it likely that Halifax will try to take the £947 from my bank account? (which i don't want happening)
or will all of today's transactions and amendments come into effect for the following months statement? In which case they will only require minimum repayments right?


Edit: Phoned Halifax and is sorted now. Thanks

[Deleted User]

You need to phone them straight away and ask.

It all depends on the timing.

shandybandy

Deleted_User wrote: »

You need to phone them straight away and ask.

It all depends on the timing.

I thought that might be the case. Thanks anyway

Vortigern

shandybandy wrote: »

...my Halifax card is set to repay in full each month

It will pay your statement balance (from your September statement). It will not pay for any transactions, including your balance transfer, that have not yet appeared on a regular monthly statement.

On 25 October your new statement will show the balance transfer and your revised direct debit instruction.

If there are any purchases on your October statement, you may have to pay some interest on them on your November statement, because the statement balance will not be cleared in full by your minimum payment.

shandybandy

Vortigern wrote: »

It will pay your statement balance (from your September statement). It will not pay for any transactions, including your balance transfer, that have not yet appeared on a regular monthly statement.

On 25 October your new statement will show the balance transfer and your revised direct debit instruction.

If there are any purchases on your October statement, you may have to pay some interest on them on your November statement, because the statement balance will not be cleared in full by your minimum payment.

Great. Thank you!
You just basically confirmed what i think Halifax were trying to say to me when i called them just now.
I don't have great hearing, so I'm never quite sure when talking on the phone to companies whether I have understood them correctly. I need to see it in writing to be able to fully take in information. So your reply is very helpful