0% help explain

magpies79

So my wife is paying down a debt on a 0% credit card was around 4k she has £800 left to pay she has 2 month left of 0%.

on my current credit card I’ve been offered 0% balance transfer of upto 4k for 12 months but I just plan to use the £800 the card that I have the offer on has a pending transaction of £80 that’s it and the offer to transfer runs out in 2 days i don’t have a statement due so what happens to the £80 if I transfer her balance will I have to start paying off the 0% before I can pay the £80 if that makes sense like there’s nothing showing to pay so can’t pay the £80
off before I transfer
hope I have confused you because feel like I have lol 

Marky4040

magpies79 said:

So my wife is paying down a debt on a 0% credit card was around 4k she has £800 left to pay she has 2 month left of 0%.

on my current credit card I’ve been offered 0% balance transfer of upto 4k for 12 months but I just plan to use the £800 the card that I have the offer on has a pending transaction of £80 that’s it and the offer to transfer runs out in 2 days i don’t have a statement due so what happens to the £80 if I transfer her balance will I have to start paying off the 0% before I can pay the £80 if that makes sense like there’s nothing showing to pay so can’t pay the £80
off before I transfer
hope I have confused you because feel like I have lol 

No, check the statement for "allocation of payments" most cards now pay of the balance with the highest interest rate , meaning in your case the £80 will be paid off before anything goes toward the 0% transfer amount. 

DullGreyGuy

Marky4040 said:

magpies79 said:

So my wife is paying down a debt on a 0% credit card was around 4k she has £800 left to pay she has 2 month left of 0%.

on my current credit card I’ve been offered 0% balance transfer of upto 4k for 12 months but I just plan to use the £800 the card that I have the offer on has a pending transaction of £80 that’s it and the offer to transfer runs out in 2 days i don’t have a statement due so what happens to the £80 if I transfer her balance will I have to start paying off the 0% before I can pay the £80 if that makes sense like there’s nothing showing to pay so can’t pay the £80
off before I transfer
hope I have confused you because feel like I have lol 

No, check the statement for "allocation of payments" most cards now pay of the balance with the highest interest rate , meaning in your case the £80 will be paid off before anything goes toward the 0% transfer amount. 

It's a legal requirement for payments to go to the statemented balance with the highest interest. Banks only have discretion when there are multiple balances with the same interest and that will be defined in the T&Cs


Firstly, not all card issuers allow you to BT to a card in someone else's name so the whole plan may not work depending on who your card is with. 

Secondly, given the £80 is pending still then it's likely the £80 and £800 will become statemented at the same time. As you will not be paying off the balance in full on that statement the £80 will attract interest and so you will have a tail of interest to continue to pay off whilst you are paying down the £800.