Word to the wise...

chattychappy

zagfles wrote: »

OK, specifically for 0% deals, it usually wouldn't matter, but what if someone had a purchase balance of £2000 on a statement, at say 20% APR, £50 min payment, then made a £100 cash withdrawal at 25% APR. What should payments go towards first?

Good point!

Ben8282

When you make a payment it is in effect a full or part payment of the previous statement balance.
Therefore I think that it is correct to apply payments first to transactions which have appeared on a statement.
Only then, when the previous statement balance has been paid in full and there is money left over, should the payments be applied to transactions which have not yet appeared on the statement.

SuperHan

grumbler wrote: »

In fact, IMO, section 6.1 is not clear. It uses the term "statement" but doesn't say if it's monthly statement or current online statement.

There is no current online statement. There is a monthly statement and a 'Transactions' section which shows unstatemented transactions. So by their terminology it would mean the monthly statement.