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Which part of Balance gets moved on a Balance transfer?
woggasmoney
Posts: 2 Newbie
in Credit cards
Hi everyone, hope you can help me?
It might sound like a daft question but I am looking to transfer part of a balance from one card to a 0% card.
The card I am transferring *From* has part of the total balance on 0% and part on a high interest rate.
My questions are...
Which part of the balance on the card I am transferring *From* will be transferred first?
Will it be the 0% part (Which would be pointless) or will it be the high interest part (which would be great!) ?
Any knowledge on this would be greatly appreciated.
Many Thanks, David.
It might sound like a daft question but I am looking to transfer part of a balance from one card to a 0% card.
The card I am transferring *From* has part of the total balance on 0% and part on a high interest rate.
My questions are...
Which part of the balance on the card I am transferring *From* will be transferred first?
Will it be the 0% part (Which would be pointless) or will it be the high interest part (which would be great!) ?
Any knowledge on this would be greatly appreciated.
Many Thanks, David.
0
Comments
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Payments are always prioritised to the balance which carries the highest interest. So the "payment" (in the form of a balance transfer) will be allocated to the interest-bearing portion first, with any remainder going towards the 0% balance.
1 -
Brilliant thank you very much.Ebe_Scrooge said:Payments are always prioritised to the balance which carries the highest interest. So the "payment" (in the form of a balance transfer) will be allocated to the interest-bearing portion first, with any remainder going towards the 0% balance.
David.0
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