Some good news but need advice/facts (balance transfer)

Smashingitnow

Hello everyone!
I'm paying off 20k of credit card debt on cards ranging 20-42% APR. Sickening!
I've been very strict and am paying 1500 per month off raising to 1800 a month from Wednesday (payday!). Been doing this five months so down to about 15k (interest charges eat several hundred pounds a month).
I have a Marbles card at 42,2% that I am due to pay off (769 payment) on Wednesday.
They have now offered a balance transfer, which I want to use to pay off a Vanquis card at 39.9% - saving me around 70 a month in interest (this won't be paid off til December, so although there is a 3% BT fee, I'll still be around 200 better off).
My question is...if I transfer this NOW...then will my 769 payment be put towards the zero interest part of the balance, leaving me still with 769 at 42.2%??
Ie. Shall I wait to pay off this balance FIRST?
And if so, do I need to wait for another statement to go through first??
Hope my question is clear...the answer should be straightforward I hope...it's about the order which Marbles will choose to attribute my payments to the two balances with two different APRs.
Thanks a lot everyone for all the inspiration and great ideas - although not posted before, this forum has been an almost daily source of motivation for me.
Smashingitnow

TheAble

Congratulations on your progress! Usually any payments you make go towards the highest interest debt first. It should say on the small print on any of your Marbles statements. You can also of course call them and ask.

Smashingitnow

Thanks you so much!
I can't call them. For the last four and a half months I have been trapped in a developing country with no way of calling the UK or of getting to the UK.
It's been quite stressful. I do have online banking.
But I DID check the terms and conditions on the statement and it says exactly as you advised! Thank you so much.

mark55man

that has been my experience that the debt is applied to the largest interest rate outstanding.  Be careful not to add  any spending on that card as that might be a different story

Well done on your progress, I hope you can get back to the UK soon, but possibly you might be saving a fortune by being stranded - I hope so as that would be a small compensation for your inconvenience. 

ryanm8655

Do they have an online chat function? That’s how I asked MBNA that question.

For info in that case the money goes to the interest accruing balances first and the balances that will be interest accruing soonest (I have/had cards where I’ve done transfers at different times, resulting in a range of offer end dates). I’d assume marbles policy will be the same.

Smashingitnow

Thanks @Mark88man

Indeed by being here, and living being so much cheaper, I am able to put 500 a month extra to paying off the debt easily. The actual figure is probably higher as of course I have no social life here and no temptation.
It is a drastic solution for others in debt perhaps!!! But does make you think twice about the cost of a lot of things.
I have now done the transfer....
Hoping that after Wednesday my debt will be down to 13700....still such a long way to go though!

mark55man

I do say that to some new starters. The first few months after LBM are the worst/most exciting/affirmative, but actually what can defeat people, is just how long it takes to recover your finances once they have gone pop for whatever reason.  That journey is long and boring - I hope your environment provides some distractions, even if not your first choice.

When you get back to the UK be careful not to fall back into old habits - its a permanent change of mindset even when your location normalises  

if its any consolation "no social life and no temptation" also sums up much of UK at the moment if you are following lockdown advice