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Balance transfer query
Saver23
Posts: 3 Newbie
in Credit cards
Hello there,
I have two credit cards, one with MBNA and one with Barclaycard.
On both cards, there are some purchases as well as balance transfer sums that are 0%. My question is how do the card providers determine which balances will be paid off by a new balance transfer? I have offers on both so it makes sense to transfer the purchases to the other cards and benefit from the 0% on those, however if this is only going to clear the existing balances currently affected by 0% then it's a waste of time.
Thanks
I have two credit cards, one with MBNA and one with Barclaycard.
On both cards, there are some purchases as well as balance transfer sums that are 0%. My question is how do the card providers determine which balances will be paid off by a new balance transfer? I have offers on both so it makes sense to transfer the purchases to the other cards and benefit from the 0% on those, however if this is only going to clear the existing balances currently affected by 0% then it's a waste of time.
Thanks
0
Comments
-
Highest rate will be paid first, but if all at 0%, it will be done in accordance with the allocation of payment of each card.
Check the t&cs.0
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