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Durban Posts: 485 Forumite

12 May 2024 at 8:48PM edited 12 May 2024 at 10:08PM in Credit cards

I am new to stoozing

I have a balance on MBNA card of around £5000 at 0 percent for about another year. I pay minimum amount and have the £5000 in a savings account.

I have now taken the 0 percent fee offer of 21 months at 6.9 percent and MT around £7500 today on the same card and immediately did a BT of the same amount from another 0 percent card.

I thought this would clear the MT and leave my £5000 balance at 0 percent intact

However , I have now been reading that this may not be the case and I may have jeopardised the 0 percent on my existing balance of £5000 and I should have done this with no balance outstanding and I may now be paying 6.9 percent on the £5000 instead of 0 percent

is this correct and should I now pay off that £5000 asap or will my 0 percent still stand until the expiry of that offer

Thank you

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