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Balance transfer and money transfer
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Lemonade100
Posts: 3 Newbie

in Credit cards
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?
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Comments
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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 sayFor each type of balance, your payments will pay off the oldest balanceAnd they count BTs and MTs as the same 'type of balance'See B7.4 How we apply your payments1
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Thank you Grumpy_codger, looks like they will pay off the balance transfer first then.......................0
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