I got a cash advance on a Chase card a couple of years ago, and have a "purchases" balance of about $3,000. My "purchases" interest is 12% my "cash advance" interest is 21% and continues to accrew as though it is being held as a separate item away from all other payments. I've been told to pay double, which I do, but still the interest grows. Can anyone explain what is going on and how I can get Chase to tie everything together and get the interest lowered and payments attributed across both purchases and cash advances? Low Rider
They generally pay down the balance with the LOWEST rate, leaving the HIGHEST rate balance to acrue interest. BT your total balance to a different card at a reasonable rate, and never use a card with a BT balance for purchases. Don't even carry it. Use a separate card for purchases, and if you intend to carry it, BT it to one for that purpose.
