We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

credit card

Options
hello im just after some info on my credit card i got a barclaycard with 30 month 0% apr on balance transfers and 6 month on purchases, my purchase promo ran out so now im paying 21.9% apr, but that past couple of month i have been paying £100 off the card and using it again thinking it would pay the £100 of the purchase than add it back on, but each month my interest has been going up and up, origanally i owed £900 as a balance transfer and £600 as purchases so i decided to look at the break down of my statement and it says my balance transfers is £200 and purchases is £1300, but i thought when i made a payment it would be allocated too the balance that was being charged interest on but it hasnt so was i wrong or has there been a mistake at barclaycard

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    What do the terms say about payments allocated against two concurrent promos? Are they allocated against BTs or purchases/the one that started first/ends first etc?
    When are you making payments?
    When are your statements produced?
    When is your due date typically?
    What is your minimum payment?
    Have you incurred any fees?
    When did you take the card out?

    Can you add some punctuation into your reply to make it easier to follow.
  • PeacefulWaters
    PeacefulWaters Posts: 8,495 Forumite
    And in future don't mix balance transfers and purchases. Have a different card for each.
  • Lumanous
    Lumanous Posts: 132 Forumite
    Ninth Anniversary Combo Breaker
    edited 25 April 2017 at 12:33AM
    If you have a look into the terms detailed on your latest statement, it will show you the order in which it will pay off your balances.

    For barclaycard this should be in the 'Summary box', usually on the last page of your statement, and look for a header similar to 'Allocation of payments'. The order of allocation can vary based on the type of card and original offers etc. so best to check for your specific card.

    Once you know the order for certain, you can then work out the rest.

    Might just need a different plan if the balance does not pay down how you expect it to.

    I also agree with peacefulwaters on the keeping purchases and balance/money transfers separate. I only have one which is combined temporarily but it's only because I know I can track the individual balances and manage my finances in a very detailed manner - not worth the hassle/potential confusion for most! :)
    :A
    No, my username is not a typo :tongue:
  • Ben8282
    Ben8282 Posts: 4,821 Forumite
    1,000 Posts Combo Breaker Newshound!
    If the 0% offer on purchases has expired and interest is now being charged on purchases, then the repayments MUST be allocated to the purchases at 21.9% and NOT the 0% balance transfer.
    The most probable cause of the problem is that the OP is repaying the purchases before the statement is produced and therefore the payments are correctly being applied to the balance transfer rather than the unstatemented purchases.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.8K Banking & Borrowing
  • 253K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.7K Work, Benefits & Business
  • 598.5K Mortgages, Homes & Bills
  • 176.8K Life & Family
  • 257K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.