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Balance transfer and money transfer

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I have an MBNA balance transfer card that also offers a money transfer (balance transfer is 0% for 31 months - 24.94% after 31 months and I have already transferred a balance to this, the Money transfer promotional offer is 0% for 9 months - 24.94% after 9 months) but I have not yet used this but I would like to. I transferred a balance last week so have used the balance transfer option and want to use the money transfer today, a week later.  Which is paid off first when I pay my monthly payments the balance transfer or the money transfer?  


Comments

  • grumpy_codger
    grumpy_codger Posts: 1,043 Forumite
    1,000 Posts Name Dropper Photogenic
    edited 21 January at 11:21PM
    I would expect for the same rate (0%) the payments to go towards the balance with the earliest 0% expiry date, but their T&C say
    For each type of balance, your payments will pay off the oldest balance
    And they count BTs and MTs as the same 'type of balance'

    See B7.4 How we apply your payments

  • Thank you Grumpy_codger, looks like they will pay off the balance transfer first then.......................
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