90day 0% card repayment interest?

alric

I have a credit card with 0% introductory rate for 15months, but that only applies to purchases made in the first 90 days. after that the normal 20%ish rate applies.
I made some purchase with it before 90days and some after.
So- when i repay, do my payments clear the 0% loan first, and leave the 20% part till last, so i have to keep paying the latter part at 20% all the time?

Brie

Payments should always go against whatever part of the balance that is accruing the highest interest rate.  BUT some companies only start applying this once the purchases are on the statement. 

And possibly because you have presumably not cleared the balance on the card for your 0% purchases you may be charged the higher rate of interest on the new purchases from the actual day of purchase rather than if you haven't cleared them by the payment date on the first statement they are showing on.  (hope that makes sense)

So have a read through the T&Cs for the card's introductory offer.  If you are unclear at all and feel you have been charged interest incorrectly give them a call and let them know that their T&Cs are not clear.  There are loads of times when THEY will think/say it's perfectly clear but if an average customer can't figure it out then obviously the terms are not that straight forward.  Stick to your guns about this while being perfectly polite but if they say they will be charging interest then lodge a complaint about the confusion the T&Cs cause.

alric

Brie said:

Payments should always go against whatever part of the balance that is accruing the highest interest rate.  BUT some companies only start applying this once the purchases are on the statement. 

And possibly because you have presumably not cleared the balance on the card for your 0% purchases you may be charged the higher rate of interest on the new purchases from the actual day of purchase rather than if you haven't cleared them by the payment date on the first statement they are showing on.  (hope that makes sense)

So have a read through the T&Cs for the card's introductory offer.  If you are unclear at all and feel you have been charged interest incorrectly give them a call and let them know that their T&Cs are not clear.  There are loads of times when THEY will think/say it's perfectly clear but if an average customer can't figure it out then obviously the terms are not that straight forward.  Stick to your guns about this while being perfectly polite but if they say they will be charging interest then lodge a complaint about the confusion the T&Cs cause.

so you are saying payments WILL go 1st to the highest interest part? this is nationwide

Im worried that if i max out the card now,itll be 1250 before 3 months and same after, so if i pay 1250 to them now, i will have paid off the 1st 0% 1250, and will have to pay 20% on the rest, which may well take another 10 months.
Whereas, if i paid 1250 now and that covers the 2nd 1250, then i still have the 1st 1250 at 0% for the next 10 months.

I hope that makes sense