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Multiple 0% balances. What gets paid off first?

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Multiple 0% balances. What gets paid off first?

I have a few more months left to pay off my first 0% balance transfer. I am tempted to take up an offer for another 0% balance transfer, with some balance still remaining on my original transfer.

 

What gets paid off first?

 

From elsewhere in the community a similar question was answered as follows:

 

"When you make a payment to your credit card, it will always be allocated to the part of your balance that attracts the highest rate of interest. So, in this situation, the payment would go towards clearing your balance that accrues interest and wouldn't touch the money transfer amount until the other balance had been cleared off."

 

However, what if you have multiple 0% promotional rates ending on various dates?

2 REPLIES 2
Your Community Expert

Re: Multiple 0% balances. What gets paid off first?

Hi @keekSTUFF, thanks for getting in touch. If you have more than one 0% rate, any payments you make will be allocated to the balance that's due to expire first. I hope this helps! - Jade

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Re: Multiple 0% balances. What gets paid off first?

Thank you for taking time to confirm that!