Balance Transfer Questions

RandomGuy235

Hi all

I took out a card with offers on purchases and balance transfer at 0% for fixed terms.

I have used the balance transfer offers a few times which will probably be better detailed below:

June 2018 - £465 - 0% until October 2020
August 2018 - £1,800 - 0% until December 2019
November 2018 - £300 - 0% until September 2019
January 2019 - £450 - 0% until December 2019

My question is, what happens come September 2019?

Does the interest (21% after the offer) come into effect for the £300 only or for the full balance?

I ask as I'm new to this side of the card and I'm not sure how the offer works when used multiple times.

Thanks in advance.

Sharon87

Well your minimum payments should be going to the balance transfer that expire the soonest. Check your statements to see how much of each transfer you've got. If it's not on your statement then phone the credit card company.

If you still have any remaining left on the September 2019 balance that portion starts accruing interest. So if it's £300 left, that earns interest, the other transfers only accrue interest after their end dates. Minimum payment may go up as well once it starts earning interest on some cards too.