Credit Card Promo Help Please

kindofagilr

Hi all, last month myself and OH called B'card and asked if they could offer us any rate deals on our existing CC's, my apr was 29.9% and OH was 19.9% they said yes, and reduced my APR to 6.9% for 2 years on the outstanding balance and OH's to 9.9% for 2 years on the outstanding balance at that time.

I logged onto online banking yesterday and both myself and OH have a 6.9% BT offer for lifetime of the balance transfer balance.

We have other cards which are between 20% and 25% APR so we are going to shift some of them over to the 6.9%, I rang B'card to check we can have both promos at the same time and they said yes.

Now it's my understanding that when we pay the minimums they take it from the balance with the highest APR first, so in OH's case it would be the 9.9% balance that was already on the card, but what happens in my case when both promos are the 6.9%? Anyone know which one will be paid off first?

We are paying every spare penny we have to our debt, so I'm hoping in 2 years we will have nearly paid it all off or at least be able to move it to a 0% card again. But I was curious as to what happens to the payments on the promos

Thanks

[Deleted User]

Payments go the one that ends first.

grumbler

kindofagilr wrote: »

..., but what happens in my case when both promos are the 6.9%? Anyone know which one will be paid off first?

>> Barclaycard Platinum / Initial / Gold / Classic

See "How we allocate payments"

Check the T&C of your particular card to make sure.

kindofagilr

Great thank you, yes they pay the highest APR first, then if you have promo's with the same rate it goes to the one that ends first Great news

" To reduce your main balance (your statement balance less any purchase plan balance). We’ll start with the balances charged at the highest interest rate first and then 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."

dazzaofdagenham

Can I ask what type of card you have with barclaycard ?

I have a joint barclaycard platinum with a balance of 5k and asked them the same as you have done and they said no.

Thanks

grumbler

dazzaofdagenham wrote: »

Can I ask what type of card you have with barclaycard ?

I have a joint barclaycard platinum with a balance of 5k and asked them the same as you have done and they said no.

Can you not just check the T&C instead of asking the CS notorious for luck of competence?

See the link above.

dazzaofdagenham

grumbler wrote: »

Can you not just check the T&C instead of asking the CS notorious for luck of competence?

See the link above.

If you wish to be rude then go away, the question was asked of the OP and didn't require a rude response

Thank you

Candyapple

dazzaofdagenham wrote: »

Can I ask what type of card you have with barclaycard ?

I have a joint barclaycard platinum with a balance of 5k and asked them the same as you have done and they said no.

Thanks

Have you logged into your Barclaycard online account to see what offers are available to you?

Also, there's no such thing as a joint credit card; one of you is the main card holder and the other person is just an additional card holder - the reporting of the account will only go onto the main card holder's credit files.

Chances are if you have a high balance with Barclaycard and are close to your credit limit, they won't offer you any deals.

Also, the best people to speak to at Barclaycard are not the customer service team but ask to go through to the cancellation department, they are the ones who offer deals.

kindofagilr

dazzaofdagenham wrote: »

Can I ask what type of card you have with barclaycard ?

I have a joint barclaycard platinum with a balance of 5k and asked them the same as you have done and they said no.

Thanks

Hi, we both have b'card platinums, you're the first person I've heard of that has been refused a lower APR when asked maybe me and OH got lucky as we had £2500 each on our accounts and last month they upped both our limits to £5000? So maybe that's why they let us?

Or do you mean the BT part? That appeared on the bottom of my screen when I logged in, have you checked the offers available to you tab when you log on?

dazzaofdagenham

kindofagilr wrote: »

Hi, we both have b'card platinums, you're the first person I've heard of that has been refused a lower APR when asked maybe me and OH got lucky as we had £2500 each on our accounts and last month they upped both our limits to £5000? So maybe that's why they let us?

Or do you mean the BT part? That appeared on the bottom of my screen when I logged in, have you checked the offers available to you tab when you log on?

Hi thanks for the reply.

I'm on the understanding you have reduced the interested rate on your existing balance ? That's what I wanted to do

Although I have a BT offer of 6.9% for the life of the BT.
However I wanted to lower the rate ( if possible ) on my existing balance.

I have a balance of 5230 with a credit limit of 7500

[Deleted User]

It'll be done a customer by customer basis. I'd suggest your credit utilisation is quite high and they therefore may be unwilling to reduce the rate.