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Halifax Balance Transfer & 0% Purchases Question
tashalove
Posts: 144 Forumite
in Credit cards
Hi guys,
Hoping you can help. I am trying to get my head around the terms surrounding 0% purchases on Halifax credit card.
My 6 month 0% purchases term is coming to an end in Dec and I understand I will have to pay the full balance otherwise I will incur high interest. However how does it work if I have also done a balance transfer and cleared some of the 'debt' from the purchases earlier to make way for the balance transfer amount on the card.
Going to sound silly but I think I have paid off the purchases spending balance already (as it wasn't much) but is the system/Halifax smart enough to recognise this and charge me interest?
I hope this makes sense? Thanks!
Hoping you can help. I am trying to get my head around the terms surrounding 0% purchases on Halifax credit card.
My 6 month 0% purchases term is coming to an end in Dec and I understand I will have to pay the full balance otherwise I will incur high interest. However how does it work if I have also done a balance transfer and cleared some of the 'debt' from the purchases earlier to make way for the balance transfer amount on the card.
Going to sound silly but I think I have paid off the purchases spending balance already (as it wasn't much) but is the system/Halifax smart enough to recognise this and charge me interest?
I hope this makes sense? Thanks!
0
Comments
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Refer to your payment allocations section of your T&Cs.
You don't say if you have a promo rate for BTS and/or how long it for.I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
If you can't be the best -
Just be better than you were yesterday.0 -
Refer to your payment allocations section of your T&Cs.
You don't say if you have a promo rate for BTS and/or how long it for.
Thanks! Looks like it is cash transactions first then balance transfers so I think I am safe. Balance transfer is also 0% but up to late 2017 so not an issue at the moment.0 -
In your instance if you have paid purchases off before end of promo rate then I would say you will be fine as your BT runs longer.
I wouldn't add further purchases while you have a BT on the card or there will be interest incurred once the purchases offer ends. .I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
If you can't be the best -
Just be better than you were yesterday.0 -
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I came across the same question0
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