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paying interest on BT fee........??
carpy
Posts: 1,089 Forumite
in Credit cards
if doing a 0% BT and paying a BT fee will interest be charged on that fee?
if so presumeably you'll be paying interest on the fee for the life of the 0% BT because they always apply your payments to the debt with the lowest interest rate (in this case 0%). if my thinking is right your minimum payment will be taken off the balance of the BT leaving the BT fee to accumulate interest.........
have i got that right?
if so presumeably you'll be paying interest on the fee for the life of the 0% BT because they always apply your payments to the debt with the lowest interest rate (in this case 0%). if my thinking is right your minimum payment will be taken off the balance of the BT leaving the BT fee to accumulate interest.........
have i got that right?
0
Comments
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some do, some don't.. so e.g. some put the BT on your first bill and include it in the minimum payment and you have to pay it off immediately.0
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Also depends at what rate the fee is charged, some cards are at same as BT so will also be at 0%0
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