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MBNA Question
IOIO
Posts: 23 Forumite
in Credit cards
I have an MBNA card. Currently owe £1000 which was a balance transferred onto this card which i am paying 3.9% interest.
I still have a promotion on this card which offers zero percent on purchases until 1st Feb 2019.
If i spend £2000 purchases this month. Then repay £1000 to the card.
1. Would the £1000 payment pay off the balance at 3.9% meaning i pay no interest until 1st Feb?
2. Would it be better to pay £1010 to cover any trailing interest?
3. Or would the payment go towards the zero rate, meaning i would continuously pay the remaining balance at 3.9% until the complete balance is cleared?
Thanks
I still have a promotion on this card which offers zero percent on purchases until 1st Feb 2019.
If i spend £2000 purchases this month. Then repay £1000 to the card.
1. Would the £1000 payment pay off the balance at 3.9% meaning i pay no interest until 1st Feb?
2. Would it be better to pay £1010 to cover any trailing interest?
3. Or would the payment go towards the zero rate, meaning i would continuously pay the remaining balance at 3.9% until the complete balance is cleared?
Thanks
0
Comments
-
Payments always go to the highest rate balance ( as long as they have statemented).0
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MBNA will allocate to the highest interest balance even if not on a statement.Deleted_User wrote: »Payments always go to the highest rate balance ( as long as they have statemented).0
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