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Two balance transfers
Help1234
Posts: 464 Forumite
Hello,
i took out a balance transfer virgin credit card and transferred £1500, with a deadline to repay January 2021. Later down the line I transferred another £1000 due to be repaid September 2020. So the total debt was £2500.
if by September I have paid back £1000, leaving a £1500 balance, will that be recognised as clearing the debt with the earlier deadline? Or could I be charged interest? As the debt has been added together it doesn’t show which one I have paid off.
i took out a balance transfer virgin credit card and transferred £1500, with a deadline to repay January 2021. Later down the line I transferred another £1000 due to be repaid September 2020. So the total debt was £2500.
if by September I have paid back £1000, leaving a £1500 balance, will that be recognised as clearing the debt with the earlier deadline? Or could I be charged interest? As the debt has been added together it doesn’t show which one I have paid off.
0
Comments
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Yes usually payments go towards the the balance with the highest interest, then if you have promotional rates, the balance that is ending first.0
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The best way to make sure is to call Virgin and get a repayment figure for each of the balance transfers.Just in case they have allocated your payments in a strange way, you want to make sure that what you have been paid has been allocated to your £1000 BT just so you don't get any surprises come September.0
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