Credit card balance transfers question

Credit card balance transfers question

Author
Discussion

Hackney

Original Poster:

6,862 posts

209 months

Sunday 2nd February 2014
quotequote all
If I have a £5,000 credit card balance and £3,000 of that is made up of a 0% offer and the remaining £2,000 is interest bearing any payments I make are taken from the interest bearing part of the balance first.

But what if I want to transfer some of this balance to another 0% offer, presumably the same principle would apply? Interest bearing balance is transferred?

otolith

56,392 posts

205 months

Sunday 2nd February 2014
quotequote all
As I understand it, it is mandatory to pay down the highest interest bearing balance first. It shouldn't make any difference where the money comes from.