Balance Transfer to card with existing balance?

GeniusMagee

Hi
I'm new to all this, so hoping someone can answer this question for me. I have Halifax credit card with an existing balance of approx £2500 which I am paying off monthly (minimum amount, and more when I have it) and it is due to come off the 0% offer in February 2016.
However I am able to transfer balance from my MBNA Credit Card (0% runs out on it this month) to the Halifax CC.
So my question is, how does Halifax distinguish between the 2 amounts on different 0% timescales? Will my original £2500 which is due to run out of 0% in Feb '16 then go to the higher interest rate and the new balance transfer of £1650 stay on 0%??
I hope this makes sense.

grumbler

Typically, payments get allocated to the balance with 0% that expires sooner. However, I don't see their T&C clearly saying this. Ask the CS for a confirmation if you want to make this sure.

http://www.halifax.co.uk/creditcards/help-guidance/terms-and-conditions/clarity-card/

6. ALLOCATION OF PAYMENTS

6.1 - We use any payments you make to pay off Transactions that appear on your statement starting with those on which we charge the highest rate of interest, and so on down to the lowest rate of interest. If the payment is not enough to pay off all Transactions at a particular interest rate, we will pay off Transactions charged at that interest rate in the following order:- Cash Withdrawals, Purchases, Balance Transfers and Cheques, followed by the charges in conditions 7.1, 7.2 and 7.3. If you pay more than the amount due shown on your statement, we will use any remaining payment to pay off Transactions that have not yet appeared on your statement in the same order as those that do appear on your statement. In this condition, "Transaction" includes the amount of the Purchase, Cash Withdrawal, Cheque or Balance Transfer plus any interest, charges or insurance payment charged as a result of that Transaction.

This is for their Clarity card, but I am sure it's the same for all their CCs.

GeniusMagee

Thank you. I will contact them. Just don't want to be paying interest if no need
K