Add to excisting credit card balance

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

Replies

  • edited 9 April 2017 at 10:09PM
    YorkshireBoyYorkshireBoy Forumite
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    edited 9 April 2017 at 10:09PM
    There are some draft T&Cs on the Lloyds website. See condition B7.4

    Are your own T&Cs the same as those?
  • scorpioladyscorpiolady Forumite
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    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
  • YorkshireBoyYorkshireBoy Forumite
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    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...
    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?
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