Credit card payment - what gets applied?

[Anonymous]

I had a credit card with $300 balance, but then got a great BT offer of 0% for a year.   So I went ahead and transfered an old balance that I have been working down for a while now.  ($500).    I do not have the $700 to pay it in full this month.   Is there a way to set the payment up to be applied to the original balance of $300 first?   

My guess is "No" but it sure would be nice

BTW- the $500 was from a crappy one card and I am so psyched it is at $0.   And I plan to keep it there....

[trumpet-205]

IIRC Minimum payment goes to least interest balance first, then remaining goes to highest interest balance.

Hence you subtract minimum payment (this goes to BT) amount from whatever you can pay. Remaning amount in your case goes to purcahse.

[justvisiting1]

Don't forget, the minimum payment applies FIRST to interest and fees on the account, then it applies to purchases. anything over the minimum payment goes to the highest apr...

if the minimum payment is $35, and you send in $50, then the first part of the payment covers min and the remaining amount $15 goes to the highest apr. 

It is up to the credit card companies to decided which apr they will apply to the minimum payment. They will probably pay the higher apr, because if you do not pay the bt off by the time the apr switches, you may have to pay the apr from the start.

Read the small print before you do it. It has to state (Credit Card Act)

---Someone who knows how the cc do it.