Have I just wrecked my 0% rate on my barclaycard?

pinchez

Last week I transfered a balance on to my barclaycard platinum on a 0% until June 2016 and I intended to not spend anything else on this card and just pay it off.

I'm not certain how these things work but my thinking was if I make a purchase on the card then this would break the 0% deal I'm currently on? Anyway did something stupid and ordered a gift online and forgot to change credit card so it has been charged to my barclaycard platinum

Will it affect my 0% already on the card, is there anything I can do? already tried calling the retailer but it was too late

msallen

Not a problem really as long as the purchse didn't take you over your limit. Make sure you pay off at least as much as the purchase was for immediately after your next statement.

You will probably have a few pennies of trailing interest the next month, but then that'll be it.

pinchez

Luckily I still have another 2k credit on my limit and the gift was only £30. My first thought was to pay off the £30 now but my account says my minimum payment is £90 which is due 12/1/2015 via Direct Debit and It won't let me pay just £30 using my debit card.

So will I just end up paying whatever interest on £30 until my 0% expires or I pay off the balance?

Thanks

grumbler

msallen wrote: »

Make sure you pay off at least as much as the purchase was for immediately after your next statement.

Why not straight away to avoid the interest?
(As soon as the transaction appears in the online statement)

pinchez

Sorry for being dumb! I'm struggling to understand, ultimately I'm trying to avoid paying interest. The £30 i just spent isn't showing on my account yet but it as bought down my available credit by £30. The minimum payment I'm allowed to make is £90. If I was to pay £120 (£90 + £30) now would that take care of the £30 spend and mean I wouldn't be charged £90 via DD in January and leave as before with 0% until June 2016 and not paying any interest at all including on the £30 spend?

Thanks for the help I really panicked with this

grumbler

As soon as you see the transaction online pay £31 by a bank transfer. Then let them collect the minimum payment by a DD on the due date. Most likely they will take £60ish.

thegrind

Payment is allocated to the highest interest items after fees and charges, so your next min payment after your next statement will pay off that £30, whatever is left of the 2.25% min payment goes towards the BT.

I think i've understood you're question....?

Tixy

Even if you don't make any additional payments this one purchase is likely to cost you at most a couple of quid in interest, over the next couple of statements.

pinchez

grumbler - They won't let me pay just £31 at as to be minimum payment of £90

thegrind - after reading your comment a couple of times I think I understand! So basically barclaycard will take minimum payment of £90 and out of that it will pay off the £30 I just spent and the rest will come off the BT. So no interest added for the £30?

Mrtight

I belive it will run as 2 separate debts the balance transfer will stay at 0% and new at what ever deal you got should be 0% for the month if you pay full amount off ie the £30. Might be worth phoning them. but if they already billed you for £90min with out it being on the bill that's the min payment for just for the balance transfer, how much did you transfer about £6k? next month it might be £92ish if you don't pay the £30! CUT YOUR CARD UP stops you spending

YorkshireBoy

pinchez wrote: »

grumbler - They won't let me pay just £31 at as to be minimum payment of £90

'Force' it upon them by sending an FP.


Was this an existing customer BT offer, ie it isn't a new card?