How to transfer higher interest portion of balance

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Moomin630
Moomin630 Posts: 1 Newbie
in Credit cards
Hi - I have a CC with x amount at 0% interest and x amount 35% interest. How do I transfer just the higher % interest part of the balance to another 0% deal on a different card?

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  • T-G-C
    T-G-C Posts: 591 Forumite
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    Most card providers, although it would be wise to check with the lender beforehand, will allocate payments to the balance bearing the highest interest, which in your case is the 35% APR balance. If you balance transfer £X.XX amount from the current card to the new one, it should clear the interest portion.

    You need to ask the lender if payments are allocated to the part of the balance bearing the highest interest. If this is correct, then clearing that portion of the balance onto another card should work.
    Advice provided from this account does not consist of any professional knowledge. For professional debt advice, please contact either National Debtline or StepChange. Advice may consist of personal experience, opinion and/or informational sources.
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    You simply do the BT.

    All lenders will allocate payments to the highest statemented balance.
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