0% Balance Transfer

tpward21

Hi,

I got a Barclaycard with a 0% balance transfer offer last year (Platinum with 37 months interest free) - I transferred my balance and pay around £100-£200 a month in order to pay off the balance over the next year.

However, they keep sending me further offers inviting me to transfer another balance and get 0% interest if it is repaid within 12 months.

My questions is if I decided to take up this options, would the money I pay into the account go towards the more recent balance transfer or the older one? I presume the newer one as it is a good way for them to keep your balance higher with the hope that you don't pay off your original balance.

If I did do this then would this not affect my previous balance and would this remain at 0% for the next 2.5 years despite taking out another balance transfer.

Any advice would be much appreciated.

Cheers:beer:

[Deleted User]

The one that ends first.

tpward21

Ok, thank you for your reply- and this would have no effect on my current 0% deal?

redpete

tpward21 wrote: »

Ok, thank you for your reply- and this would have no effect on my current 0% deal?

Common sense says it shouldn't, and maybe regulations say it mustn't, but the definitive answer would come from MBNA customer service (or the Ts&Cs that you agreed).

KRB2725

Your payment gets allocated to the deal that ends first. On your statement each month it shows the outstanding balance and end date of each transfer.

Coveredinbees!!!!

I get them too but stick them in the shredder, the deal isn't that good as the fee is fairly high for the length of the transfer. I would try for another 0% card if you can get one with a better deal.