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Allocation of payments question
eaglesrjh
Posts: 376 Forumite
in Credit cards
I have a question about allocation of payments in regards to promotional balances.
Currently I am looking at potentially taking advantage of 2 offers on one card, one for a money transfer offer and one for a balance transfer offer. It's a Barclaycard if that helps.
They have the same fee but different lengths of term so i'm wondering how a minimum payment would be applied to the balances.
Say theoretically i moved £2000 on the money transfer offer for 12 months and £1000 on the balance transfer offer for 18 months, gives a full balance of £3000 plus fees. I then make the required minimum payments monthly, how is that payment allocated to the 2 different offers.
There would be no other spending on the card.
thanks in advance.
Currently I am looking at potentially taking advantage of 2 offers on one card, one for a money transfer offer and one for a balance transfer offer. It's a Barclaycard if that helps.
They have the same fee but different lengths of term so i'm wondering how a minimum payment would be applied to the balances.
Say theoretically i moved £2000 on the money transfer offer for 12 months and £1000 on the balance transfer offer for 18 months, gives a full balance of £3000 plus fees. I then make the required minimum payments monthly, how is that payment allocated to the 2 different offers.
There would be no other spending on the card.
thanks in advance.
if i had known then what i know now
0
Comments
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The one that ends first.
https://www.barclaycard.co.uk/personal/credit-cards/how-interest-is-charged-on-your-account0
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