Stupid question alert - Credit Card

Liquid_Entity · 9 Oct 2013 at 09:19

This might be a very dumb question regarding a 0% balance transfer credit card. Say your original balance was £3000 and your current balance is £1000. When the 0% promotion ends do you start paying interest on the £1000 that is left or do they back pay the interest from the original £3000 because you haven't paid it all off.

I've never been in the situation to see if that happens because I've usually moved the debt on by then to another 0% card. Just interested to know.

Cheers

ps do your worst GD

mame · 9 Oct 2013 at 09:21

No, you will only pay interest on what's left.

boxman2000 · 9 Oct 2013 at 09:23

My first suggestion would be read the T&C's that came with your credit card but typically it is the balance remaining.

Liquid_Entity · 9 Oct 2013 at 09:27

Thanks

NVP · 9 Oct 2013 at 10:15

Yep, our system is designed only to apply on the pending balance from the point the product ends.