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Balance Transfers ending at different times
Boppy30
Posts: 28 Forumite
in Credit cards
Hi
Can anyone explain (in simple terms) what happens if you have 2 balance transfers on the same card that end at different times?
I have a Barclaycard and have a 0% deal that ends October 2019. I had a card with Sainsburys where I was paying quite a lot of interest so when Barclays offered me another 0% deal until June 2020 I transferred this over also.
What happens in October 2019 when that deal ends? Does that balance revert to the standard apr and the other remain at 0% until June 2020?
Many thanks
Can anyone explain (in simple terms) what happens if you have 2 balance transfers on the same card that end at different times?
I have a Barclaycard and have a 0% deal that ends October 2019. I had a card with Sainsburys where I was paying quite a lot of interest so when Barclays offered me another 0% deal until June 2020 I transferred this over also.
What happens in October 2019 when that deal ends? Does that balance revert to the standard apr and the other remain at 0% until June 2020?
Many thanks
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Comments
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Yes. .0
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Thank you. So if I balance transfer the amount that runs out in 2019, will the other still stay at 0% until 2020?0
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Yes though they are meant to allocate payments to the one that ends first as a priority so worth checking with them how much each one has left on there
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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If you look at your *statement it will tell you how much is left on which offer so you can see in simple terms whether you will have paid off offer 1 by the end date and the same with offer 2.
*I believe it is on page 2I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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