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Heres the plot:
I have a balance transfer of $1000 dollars at 0% promo for 12 months on my BofA 1-2-3 Rewards card. I have auto pay set up to pay $100 on due date for 10 months.
The problem is there was a really good offer on the same card for 15% at autozone and I actually needed a powersteering pump that went out on my brothers truck so I used it. problem is I didn't realize it was on the last few days of a statement segment, I paid the total amount for all the parts on that statement but now every month I get a interest charge for about a $1.50 for revolving balance not within the 0% promo period.
So no I'm upset because it seems to me that there is no way to pay out just the balance that has a 23% apr attached to it because they purposely hide it within the BT balance...
if there is anyway to avoid this from happening please enlighten me, I'm so close to just paying the whole thing off this month, I absolutely despise paying interest.
With the exception of Barclays and CapOne, you never want to use your card for a regular charge after taking advantage of a balance transfer or else exactly what is happening to you will occur. About the only way to avoid any interest now is to pay off the entire balance.
Might be worth a call to BoA? Don't know that they'd help you out any, but if you claim ignorance, or that you THOUGHT you were doing to correctly, maybe they'll work with you?
It comes down to the the way the payment is allocated. On my AMZ store card, I set the allocation to pay off current charges first, then zero percent balances ... it makes the bookkeeping a little difficult at times on my end, but so far so good. Does BoA not allow you to set the allocation as you want?
@Anonymous wrote:With the exception of Barclays and CapOne, you never want to use your card for a regular charge after taking advantage of a balance transfer or else exactly what is happening to you will occur. About the only way to avoid any interest now is to pay off the entire balance.
The other time you can do this is when you have a card that offers 0% for both balance transfers and purchases.
Otherwise, yeah, new charges will kick in interest unless one of the above exeptions apply.
@HeavenOhio wrote:
@Anonymous wrote:With the exception of Barclays and CapOne, you never want to use your card for a regular charge after taking advantage of a balance transfer or else exactly what is happening to you will occur. About the only way to avoid any interest now is to pay off the entire balance.
The other time you can do this is when you have a card that offers 0% for both balance transfers and purchases.
Otherwise, yeah, new charges will kick in interest unless one of the above exeptions apply.
Good point and thanks for the reminder.
Well that's what I feared it would be, looks like I'll just have to pay it off, luckily its not an outrageous balance.
I have a BT on one card, CitiDC, and that card is SD. I don't even want to make a mistake or be tempted to put a purchase charge on it.