Making purchase will it affect 0% balance transfer

No_6

Keep BT's and 0% purchases separate, much easier,
ie get another card for 0% purchase

Alexd52

thriftylass wrote: »

No, because they are separate and the minimum payment pays towards the balance transfer whereas the purchase needs to be paid of in full..

Let's say you transferred £1000 and the minimum payment on that is 50 quid.
You then made a purchase of £73.21. So the amount to pay this month would be £50+£73.21=£123.21

Took me a while too to get my head round 0% cards and minimum payments etc.

Hope that helps

There is only one minimum payment towards the total balance, so if you have made purchases that exceed the minimum payment, then paying the minimum will only reduce the purchases balance. There would, in this instance, be no reduction in the BT balance. The only way to impact the BT balance would be to pay more than the purchases balance, negating the advantage of the 0% purchases offer.

No_6 wrote: »

Keep BT's and 0% purchases separate, much easier,
ie get another card for 0% purchase

I fully agree with this

molerat

No_6 wrote: »

Keep BT's and 0% purchases separate, much easier,
ie get another card for 0% purchase

More important is to know how your particular card and deal works not apply generalisations. I am quite happily spending on my BT card as I know how it works. I only spend where I get cash back and keep the card as close to its limit as possible thus mainting the efficiency of the stoozing.

I agree that there is only one minimum payment though, disagreeing with the points in thriftylass's posts.

thriftylass

Thanks guys for clearing this up. I was under the illusion I understood it but clearly not. I am sorry if I gave false information, and thank you for correcting me. I better follow No 6 advice to and keep them separate.

Ta

thriftylass

Alexd52 wrote: »

There is only one minimum payment towards the total balance, so if you have made purchases that exceed the minimum payment, then paying the minimum will only reduce the purchases balance. There would, in this instance, be no reduction in the BT balance. The only way to impact the BT balance would be to pay more than the purchases balance, negating the advantage of the 0% purchases offer.



I fully agree with this

See that confuses me now too :think:. That's why I thought they are sort of kept separate on the card. How do you then benefit from 0% on BT and on purchase if whatever I pay goes towards the purchase first.

Alexd52

thriftylass wrote: »

See that confuses me now too :think:. That's why I thought they are sort of kept separate on the card. How do you then benefit from 0% on BT and on purchase if whatever I pay goes towards the purchase first.

It is up to you to manage, the important thing to bear in mind is that you have paid sufficient to pay off all your purchases by the time the 0% period is up, and then the same for the 0% BT. This is why it is easier to keep them separate.Personally, i have BT cards that are only used for that purpose, I never spend on them.