Credit Tips: No interest Credit Card Balance Transfer

Posted On: December 1, 2005

Author: VinDoGG
Posted: Thu Jul 28, 2005 5:05 pm
Post subject: No interest Credit Card Balance Transfer

Let’s say you have a credit card using 4000 dollar balance no interest balance transfer rate which is using a 0% interest andyou charge let’s say 200$ on your card. Next Month statement you pay 500, Now instead of the 500 going to the 200 balance it goes to the 4000 dollar balance that you’re charged with no interest on. And you start collecting an interest charge on the 200 is this right? Is there no way to avoid this without paying the whole balance?

Author: Polonius
Posted: Thu Jul 28, 2005 5:11 pm
Post subject: No interest Credit Card Balance Transfer

Yes–don’t use the same card for purchases. Get a different card and use THAT for purchases instead…and pay it off in full each month.

Author: pennypicher
Posted: Thu Jul 28, 2005 9:41 pm
Post subject: No interest Credit Card Balance Transfer

I found out that problem too. My wife charged $30 on a card with a 4.9% rate. Same thing happened they only apply my payment to the 4.9 balance. I called and asked them to roll it together and they said no. Pay off the balance. So the $30 get charged 10% every month.