Anyone here good with credit cards?

Soldato
Joined
7 Oct 2003
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Nottingham
I'll try and explain this best I can!

Last week I did a 0% balance transfer to my barclaycard platinum with £6k limit. So now I owe £1000 with 0% interest till June 2016.

My plan was not to spend on this card and just pay it off but....

Stupidly I ordered something online (Captain Toads Treasure Tracker for Wii U) from shopto who charged my barclaycard platinum before I had chance to change it (no review order).

So now I owe £1000 at 0% and £30 at 19% or whatever it is. They're due to take a DD payment mid January.

I'm trying to avoid paying interest but I'm guessing they'll charge me interest on £30 till my balance as been paid off or is there a way round it like paying my January payment + £30 now?
 
Associate
Joined
20 Nov 2010
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Manchester
I'll try and explain this best I can!

Last week I did a 0% balance transfer to my barclaycard platinum with £6k limit. So now I owe £1000 with 0% interest till June 2016.

My plan was not to spend on this card and just pay it off but....

Stupidly I ordered something online (Captain Toads Treasure Tracker for Wii U) from shopto who charged my barclaycard platinum before I had chance to change it (no review order).

So now I owe £1000 at 0% and £30 at 19% or whatever it is. They're due to take a DD payment mid January.

I'm trying to avoid paying interest but I'm guessing they'll charge me interest on £30 till my balance as been paid off or is there a way round it like paying my January payment + £30 now?

Any payment you make will go against the highest interest first. It would have said this in any documentation when you did the transfer

How do balance transfers work for repayment?
When you make a payment to your account it will go towards paying off the highest interest rate first, then any transactions made against your standard interest rate and then finally your transferred balance.

http://www.barclaycard.co.uk/personal/credit-cards/how-balance-transfers-work
 
Soldato
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18 Oct 2002
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7th Level of Hell...
Payments to a CC are NORMALLY applied to the balance attracting the largest interest first then the second largest interest and so on. The purchase will be paid off first before the payments touch the 0% balance
 
Soldato
OP
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7 Oct 2003
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Nottingham
Thanks guys :)

So if I was to pay my January minimum payment now It would pay off the £30 I just spent and I wouldn't be charged interest on the £30 and they wouldn't take another payment till February?
 
Associate
Joined
23 Feb 2004
Posts
1,258
Depends on the company but as you've not ceared the full balance it may mean you've accrued interest on the £30 from the transaction date to the DD date. It will be pence
 

Deleted member 66701

D

Deleted member 66701

Depends on the company but as you've not ceared the full balance it may mean you've accrued interest on the £30 from the transaction date to the DD date. It will be pence

99% of cc's don't charge nterest until after 56 days, so if you pay the £30 within those 56 days you'll be fine.
 
Soldato
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18 Sep 2003
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Radlett
You will pay interest on the £30. Payments are generally applied against the highest-interest *statemented* balance. The statemented bit is important here. You'll need to wait for the £30 to appear on the next statement then pay it off (the day you get the statement, if you like).

If your Barclaycard is a new one, nb that a lot of them come with a short 0% on purchases as well.
 
Soldato
OP
Joined
7 Oct 2003
Posts
5,686
Location
Nottingham
It's not a new card, had it years, so I'm to wait till it shows on my statement then pay it off?

What if I paid £30 plus January's minimum payment as soon as it shows on my statement, would that take care of it? Also if I did this on Monday for example would I still have to pay minimum payment again in January?
 
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