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Barclaycard - Additional balance transfer (different term)

newbieintown
Posts: 1 Newbie
in Credit cards
Hi All,
I'm pretty new to balance transfers having only done one before so apologies if this is a silly question.
I did a balance transfer last year to a Barclaycard and got a 0% until 2018 deal (I have about £5k left to pay off).
I have been offered to do another balance transfer (just for 12 months) with Barclaycard on the same account.
I would like to do this but I don’t understand whether it will affect my other balance transfer.
What I mean is:
If I put another 2k on there when the 12 months is up, I will still have 5k from the 2018 balance transfer offer so will I still get 0% on that or will the most recent 2k I put on the card get paid off last?
I hope this makes sense?!
Thank you!
I'm pretty new to balance transfers having only done one before so apologies if this is a silly question.
I did a balance transfer last year to a Barclaycard and got a 0% until 2018 deal (I have about £5k left to pay off).
I have been offered to do another balance transfer (just for 12 months) with Barclaycard on the same account.
I would like to do this but I don’t understand whether it will affect my other balance transfer.
What I mean is:
If I put another 2k on there when the 12 months is up, I will still have 5k from the 2018 balance transfer offer so will I still get 0% on that or will the most recent 2k I put on the card get paid off last?
I hope this makes sense?!
Thank you!
0
Comments
-
The T&Cs on the account will detail the allocation of payments, it does vary across cards and providers.
An online version of barclaycard's T&Cs for one of their accounts states thisIf a payment you make is less than your total outstanding
balance as shown on your statement, we’ll use it to reduce
the balance with the highest interest rate first. If any of the
payment is left over, we’ll use it to reduce the lower rate
balances.
If you have more than one promotional balance at the same
interest rate, we’ll use your payment to reduce the balance
with the promotional rate that ends first. If the standard
balance includes default fees, we will pay those off before
the rest of the standard balance.
If yours are the same then your short promo will be paid off first.A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0 -
I have done something similar in the past. The minimum amount to pay off will be on the total amount on both offers. However the shorter offer or the one with the earlier end date, will be paid off first. I paid off the first promotional offer balance before it started to accrue interest and thereafter the minimum payment was reduced to reflect the remaining balance.SPC 08 - #452 - £415
SPC 09 - #452 - £2980
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