I can't speak definitively for all, but for every CC we've dealt with, payments are always applied first to the amounts with the lowest APR. It's generally in their disclosure statement. So to get the full benefit of a 0% BT deal, it is generally necessary to sock drawer the card until the BT is paid off. DemPooches
Oh crap! I didn't know that. I have been using my card and I did two bt's. So now everything I have used the card for will rack up interest charges until I pay off by two BT's. My interest rate is 15.49%. I want to cry right now.
christi no cry do you have another card you can transfer the balance to with a lower apr? then pay back the purchases on the first card - and then see if you can do the 0% thing on that card again
Hey Mark No, I don't have any card to BT to. I got rid of 2 Visa's that didn't have a "real" limit anyway.This was my first card since the BK with a substantial cl. Oh well, I was going to wait to apply for any additional cards after my scores are better. I will just pay on this card as much as possible until it's paid. Lesson learned. I am really glad you posted the info as I had NO clue. Thanks!
Christi - don't feel bad. a few years ago I didn't know either - and I bt'd to Nextcard (long gone - i cancelled them way before they closed down) and realized it when i was looking over my statement. so i also learned the hard way - but as my grandmother used to say - it was "rebbe gelt" which means money you spend to learn something
