0% puchaces and a BT......?

qwackerz

Ive got 0% on purchases for 3 months and 0% on BTs for 12 months.....

Iv made a few purchases and now i wish to sort out my BT.......

Should i pay off the purchases in full before the BT....

OR...

If i just leave the purchases on the account.....will the purchases still remain at 0% as they were made within the 3 months 0% period and non more since.....?

Thankyou

Moggles_2

I've got 0% on purchases for 3 months and 0% on BTs for 12 months.
I've made a few purchases and now I wish to sort out my BT. Should I pay off the purchases in full before the BT?

Absolutely. You should pay off your purchases in full before you request a balance transfer.

If I just leave the purchases on the account, will the purchases still remain at 0% as they were made within the 3 months 0% period ...?

Unfortunately, not.

Your monthly repayments would be allocated to the transferred balance(s) first, while retail transactions sat on successive monthly statements attracting interest at the standard rate, which is variable :eek:

qwackerz

Your monthly repayments would be allocated to the transferred balance(s) first, while retail transactions sat on successive monthly statements attracting interest at the standard rate, which is variable :eek:

Yes....i understand that.......But the purchases were made when they were on the 0% offer..............

Moggles_2

This is exactly the poo-trap the card company calculates some customers will fall into and it's one of the main ways, IMO, the lender stands to make money!

Those taking up this balance transfer deal, are offered 0% on purchases for just 3 months and then bombarded with advertising aimed at persuading customers to spend on the card
as well.

Irrespective of when the purchases were made, you will start paying interest as soon as your 0% period for retail transactions expires.

Best practice is to pay off your purchases in full before you request a balance transfer

wayoflife

moggles is right, ok you have purchased the things whilst they were on the 0% deal but thats as soon as the 3 months runs out you will pay interest and alot of interest

the only company that I know of with a positive heirachy is nationwide so if you have this card then its ok, but I doubt it as they do not have offers like that

do you understand about the 0% now??