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Purchase & balance transfer
Not_so_Richy_Rich
Posts: 41 Forumite
in Credit cards
I was hoping to get some advice on the following..
If I make a purchase on card A to the value of £500
I then make a balance transfer of £500 (at a 0% rate) from card A onto card B, will the purchase on card A be paid off (as the balance attracting the highest interest) and the purchase then be in effect 0% for the length of the promotional rate??
Any advice would be great.
If I make a purchase on card A to the value of £500
I then make a balance transfer of £500 (at a 0% rate) from card A onto card B, will the purchase on card A be paid off (as the balance attracting the highest interest) and the purchase then be in effect 0% for the length of the promotional rate??
Any advice would be great.
0
Comments
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What other balances do you have on card A?
Any BT will only be at the rate you have BT'd it to.0 -
There are numerous cards out there offering 0% on both purchases and balance transfers for a couple of years.0
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Card B is currently offering a 0% on balance transfers.
The balance on card A is around £1500. That's on a 0% rate til late 2017.
My thinking is that by moving the purchase across onto card B the £1500 will remain at 0% and the purchase will then be 0% on card B.
Just saves me applying for another card.
Would a B/T of £500 remove the purchase and keep the £1500 at 0%???0 -
A BT is like a payment, and will move the highest rate balance.0
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