Balance transfer - which balance?

tattywelshie

Hi folks,

I have a question...I have a credit card with a balance on it where part of it has interest on it (the oldest balance) and part of it is interest free.

Now, my question is, if I balance transfer from this card to a 0% card, but can only transfer some of the balance, is it the oldest balance on this card that gets transferred over, or will it be the balance that has currently a 0% interest applied to it that will get transferred over?

YorkshireBoy

For several years now, all payments made to a credit card MUST go towards the highest interest rate balance first.

It's called 'positive payment hierarchy' and is detailed in your account T&Cs under a section entitled "allocation of payments" or similar.