Hi, I have maybe a weird question. When you send in an extra cc payment can you specify where you want that money to be applied to? Example - I have two cards that have a balance of say $5,000 each. On each card I have $2500 worth of purchases @ 22% and 2500 of a balance transer rate of 5% good until paid off. Now if I got $5000 dollars and wanted to send it towards my cc, could after making a normal payment I send $2500 to each of those cards and ask that it goes towards paying off the purchases (which are @22%) balance? Or would they not allow that and just put it towards the full balance? I hope I made myself clear and if anyone knows, please respond. Thanks
why don't you call and ask them? the order they apply payments is probably spelled out in the agreement you acknowledged when you used the balance transfer....chances are it favors them!
EVERY SINGLE credit card, has a policy of applying your payments to those balances with lower interest rate first. It is ALWAYS spelled out in your agreement, and you really don't have a choice in the matter
The payment will go throw the debt with lower interest rate. Only when it is paid off completely will go over the other debt with the higher interest rate
