0% rate on credit card and further spending Barclaycard

smoore4

Hi
I have a query about my Barclaycard and seeking clarification please.
I had two interest free balances from balance transfers, one ending in January 24 and the other ending in June 24. I then had an additional balance that I was paying interest on, which I then cleared to not accrue anymore interest. I then booked a holiday on this card (for the usual protection) and instantly paid off this amount the next day. 
After receiving my updated statement, one of the interest free balances has now disappeared and I am paying interest again. I was under the impression that credit card companies allocate any amount paid in, is firstly deducted from an interest paying amount first, before a 0% balance transfer?

MattMattMattUK

smoore4 said:

Hi
I have a query about my Barclaycard and seeking clarification please.
I had two interest free balances from balance transfers, one ending in January 24 and the other ending in June 24. I then had an additional balance that I was paying interest on, which I then cleared to not accrue anymore interest. I then booked a holiday on this card (for the usual protection) and instantly paid off this amount the next day. 
After receiving my updated statement, one of the interest free balances has now disappeared and I am paying interest again. I was under the impression that credit card companies allocate any amount paid in, is firstly deducted from an interest paying amount first, before a 0% balance transfer?

You paid the amount too quickly, the transaction would not have cleared into your statement, so it was applied to the debt that was on the card. You could ring up Barclaycard and see if they will agree to amend the allocation, but they are not required to and may say no.

smoore4

MattMattMattUK said:

smoore4 said:

Hi
I have a query about my Barclaycard and seeking clarification please.
I had two interest free balances from balance transfers, one ending in January 24 and the other ending in June 24. I then had an additional balance that I was paying interest on, which I then cleared to not accrue anymore interest. I then booked a holiday on this card (for the usual protection) and instantly paid off this amount the next day. 
After receiving my updated statement, one of the interest free balances has now disappeared and I am paying interest again. I was under the impression that credit card companies allocate any amount paid in, is firstly deducted from an interest paying amount first, before a 0% balance transfer?

You paid the amount too quickly, the transaction would not have cleared into your statement, so it was applied to the debt that was on the card. You could ring up Barclaycard and see if they will agree to amend the allocation, but they are not required to and may say no.

Thanks Matt. So what I thought that I was doing the right thing by paying it straight off, has backfired. I will contact Barclaycard and try what you have said. In future, am I best to wait for the next statement and pay the amount that way?

MattMattMattUK

smoore4 said:

MattMattMattUK said:

smoore4 said:

Hi
I have a query about my Barclaycard and seeking clarification please.
I had two interest free balances from balance transfers, one ending in January 24 and the other ending in June 24. I then had an additional balance that I was paying interest on, which I then cleared to not accrue anymore interest. I then booked a holiday on this card (for the usual protection) and instantly paid off this amount the next day. 
After receiving my updated statement, one of the interest free balances has now disappeared and I am paying interest again. I was under the impression that credit card companies allocate any amount paid in, is firstly deducted from an interest paying amount first, before a 0% balance transfer?

You paid the amount too quickly, the transaction would not have cleared into your statement, so it was applied to the debt that was on the card. You could ring up Barclaycard and see if they will agree to amend the allocation, but they are not required to and may say no.

Thanks Matt. So what I thought that I was doing the right thing by paying it straight off, has backfired. I will contact Barclaycard and try what you have said. In future, am I best to wait for the next statement and pay the amount that way?

I am not sure exactly what Barclaycard's procedure is, it would be worth checking/reading up on it. They may apply it to only fully cleared balances, so it might take a few days or up to a week to show up, or they may apply it based on the statement, so you might need to wait until the end of the month. 

The general advice is to not use a card you have a promotional rate on for anything else, just pay off the promotional rate and use a separate card for everything else. 

https://www.barclaycard.co.uk/personal/credit-cards/your-interest-rates-and-balances

molerat

The T&Cs state

When you make a payment we’ll always reduce the balances that appear on your statement before we use your payment to reduce the value of transactions that haven’t yet appeared on your statement

So only items / balances on your monthly statement will be paid off.  Barclaycard do though sometimes segregate spends and transfers and the spends will still have the interest free period.  You need to scrutinise your particular T&Cs.

grumbler

https://www.barclaycard.co.uk/personal/credit-cards/your-interest-rates-and-balances

Martico

Barclaycard have been good on this kind of thing with me in the past. I forgot about an annual DD (maybe MS Office?) which was charged during a period I was carrying a balance on a 0% BT transfer. I paid it as soon as it showed on the app, and didn't face any interest. Looks like you might have jumped the gun by only a day or so, I'd hope they'll be forgiving of this

surreysaver

Basically, when you are paying off your credit card, you are paying off the balance from the previous statement.
Any purchases you've made since your last statement won't have any payments allocated to them until they have appeared on a statement.
Barclaycard, also, allow you to make purchases on top of a promotional balance, so if you make purchases below the amount of a minimum payment, the full amount of your promotional balance remains in tact.  Beware not all credit cards act like this