Balance transfer on top of balance transfer

exponential

Hi guys.

Just want a bit of advice if possible.
I currently have a Lloyds balance transfer card which I used to get rid of a high interest balance on another card.
I have been paying as much as possible on this card to take advantage of the zero interest which runs out in Feb 2017.

They have invited me to transfer another balance to the card at 0% for 12 months to the value of £500.
This will take me back to the near limit of the card.

My question is, how does the new transfer work and which balance is paid off first??
Is this a risky manoeuvre or commonplace.

I plan to get another BT card in Dec 2016 to remove any outstanding balance on the Lloyds card so shouldn't be a problem. If accepted that is.....

Thanks in advance.

[Deleted User]

Payments will be allocated to the one that expires first, if both at the same rate.

But if you have an interest bearing balance elsewhere, it would have been better to be paying as much as you can to that debt, rather than the existing 0% balance.

exponential

Hi ZX81. (used to have one of those) LOL

That's great info. It just wasn't clear to me how it worked.
I do have an interest bearing card (2 of these) but just applied for an MBNA balance transfer card and was accepted but the limit didn't quite cover the amounts combined so looked at my existing cards and they offered balance transfers so have managed to get rid of all interest bearing debt in one go.

Just have to keep any eye on the expiry dates now and hit them as hard as possible!