Add to excisting credit card balance 9 April 2017 at 7:30PM in Stoozing: free cash from credit cards 3 replies 4.4K views

scorpiolady

Last October i was offered a 0% money transfer rate for 20 months on my Lloyds credit card so i borrowed £700 and have been paying it back £35 a month to get it cleared before the 0% ends

In May this year i will need to do a balance transfer of £2000 from MBNA and Lloyds have offered 0% for 14 months on the same card.

What happens with my payments if i transfer the balance

YorkshireBoy

There are some draft T&Cs on the Lloyds website. See condition B7.4

Are your own T&Cs the same as those?

scorpiolady

Yes they apply to me but i still dont understand.

So if i owe £500 on the money transfer and £2000 on a balance transfer then the money transfer will be paid up first, is that right?

Thank you for your reply

YorkshireBoy

scorpiolady wrote: »

So if i owe £500 on the money transfer and £2000 on a balance transfer then the money transfer will be paid up first, is that right?

No, that's not right. The order of payments condition says...

Lloyds_Credit_Card_T&Cs wrote:

If there is more than one type of balance at the same interest rate, they are paid off in the following order: cash transactions, purchases, balance transfers and money transfers, and then default charges (plus any interest or charges incurred as a result of those balances).

Can you not see that the money transfer is repaid AFTER the balance transfer?