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Balance transfers help please

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Balance transfers help please

edited 30 November -1 at 1:00AM in Credit Cards
5 replies 685 views
N09N09 Forumite
2 posts
edited 30 November -1 at 1:00AM in Credit Cards
I have went round in circles with where to post a question, can someone please give me a link of which board I post a question that I have on regards of balance transfers
TIA

Replies

  • Willing2LearnWilling2Learn Forumite
    5.7K posts
    Seventh Anniversary 1,000 Posts Name Dropper Photogenic
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    You are in the right place now!! :) What is your question?

    And welcome to the MSE forum
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    :smiley:
  • N09N09 Forumite
    2 posts
    Thank you I was worried about posting in the wrong board.

    My question is I recently balance transferred from mbna (as the interest free period was up) to Lloyd’s to get a new interest free period. However I already had a balance from purchases on my Lloyd’s card, which is creating a lot of interest. mbna are offering another balance transfer interest free, Can I transfer an amount (purchases amount attracting interest) onto mbna and would that leave the interest free balance transfer amount on Lloyd’s. Will that work?
    If that makes sense.
  • zx81zx81 Forumite
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    Yes. The highest rate debt will always be transferred.
  • foxy-stoatfoxy-stoat Forumite
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    How much is the balance and how much is the interest rate?
  • PRAISETHESUNPRAISETHESUN Forumite
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    You should be able to do as you propose - Lloyds will allocate payments towards the portion of your balance attracting the highest interest rate (ie. your purchases) so you can transfer this away to your new 0% card. Make sure to account for any trailing interest!
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