Paying off High interest Money Transfer before Promotional Balance Transfer?

samclarke669

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

Willing2Learn

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...

LuSiVe

That should happen automatically on all cards.

samclarke669

Thanks guys. I presumed it would be the opposite because it's a way for them to make money!

[Deleted User]

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.

samclarke669

Oh right, ok. I'll have a look at the terms and double check, but thanks. that's promising at least

Ben8282

samclarke669 wrote: »

Thanks guys. I presumed it would be the opposite because it's a way for them to make money!

Rather than presuming look at your statement and see the amounts outstanding of each transaction type.