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Paying off High interest Money Transfer before Promotional Balance Transfer?
samclarke669
Posts: 17 Forumite
in Credit cards
Hi all.
I hope you can help.
I have an MBNA card. most of the balance is from a promotional balance transfer offer i used, which expires next May, but I have about £1300 as a money transfer, that i'm paying 22% interest on.
Can I request MBNA pay off that balance quicker than the other promotional offer?
Thanks
I hope you can help.
I have an MBNA card. most of the balance is from a promotional balance transfer offer i used, which expires next May, but I have about £1300 as a money transfer, that i'm paying 22% interest on.
Can I request MBNA pay off that balance quicker than the other promotional offer?
Thanks
0
Comments
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I think that MBNA automatically allocate payments to higher-rate transactions that are shown on your statement before those charged at lower rates. Check your terms though...I work within the voluntary sector, supporting vulnerable people to rebuild their lives.
I love my job
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That should happen automatically on all cards.0
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Thanks guys. I presumed it would be the opposite because it's a way for them to make money!0
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samclarke669 wrote: »Thanks guys. I presumed it would be the opposite because it's a way for them to make money!
That's been illegal for almost a decade.0 -
Oh right, ok. I'll have a look at the terms and double check, but thanks. that's promising at least0
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Rather than presuming look at your statement and see the amounts outstanding of each transaction type.samclarke669 wrote: »Thanks guys. I presumed it would be the opposite because it's a way for them to make money!0
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