Balance Transfer Questions - Barclaycard & MBNA

dagsky

Hi all, just wanted to find out some info about making balance transfers so i don't go and shoot myself in the foot doing it!

Barclaycard - I have already done a bal transfer last year, the offer was 0% on transfers till Aug 2018 (2k). At the moment they are offering me 0% on transfers till May 2018 if i transfer a new balance . So if i went ahead and did a bal transfer now (1K) what would happen in May 2018? Do i only pay off what i transfer now 1k or do i have to pay off the FULL outstanding amount in May 3K in order to avoid being charged interest?

Same situation with MBNA card as above.

[Deleted User]

You'd only need to pay each balance as it expired at the appropriate end date.

Check to see where your payments will go in the interim. I believe Bcard allocate them to the promo that ends first.

dagsky

looking in the summary box this is what it says:

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[Deleted User]

You need to check the full t&cs.

The summary box doesn't go into sufficient detail.

It should read something like this -


"We’ll start with the balances charged at the highest interest rate first and then reduce the lower-rate balances. If you have more than one promotional balance at the same interest rate, we’ll use your payment to reduce the balance with the promotional rate that ends first"

It's clause 11 on the one I've just found.

dagsky

ok thanks for that! Would i find the full t&c's listed on barclaycard when i log in to my account or do i need to call them to ask them to send me the full t&c's?

[Deleted User]

I don't have a Bcard, so don't know.

I would just give them a call or send them a message - it's highly unlikely this particular clause on your account will differ from the one above.

dagsky

great! thanks for the help