Money Transfer and Balance Transfer

Rosemary1011

I have applied for a card which gives 12 months interest free on money transfer and 24 months on balance transfer. I have an overdraft of £2,300 to pay off and £2,500 of credit card debt. If I pay £200 per month, and I get to the end of the first twelve months, will I still be on interest free as I paid £2,400 which would cover the money transfer amount. The T&Cs say "We use your payments to pay off balances charged at the highest interest rate first and so on down to balances with the lowest interest rates. This means the more expensive balances are always paid off first." but both are interest free. Any help deciphering this would be appreciated.

[Deleted User]

It depends on how the card in question allocates payments when balances are at the same rate. 

Most likely is the one that ends first, but you need to check the terms of your particular card..