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Valued Contributor
boomhower
Posts: 1,863
Registered: ‎09-20-2011

Question on Chase payments

I have a Chase Freedom card.  I currently have a BT on it from an offer they sent.  The standard APR is 29% so obviously I'm not going to carry a balance.  Question is if I use it for category spending will they apply payments to the new purchases or just the BT balance until it's paid?

Valued Contributor
navigatethis12
Posts: 1,881
Registered: ‎01-24-2012

Re: Question on Chase payments

They apply payments to the highest rate purchases first. So if you make a purchase and pay it, it will go all towards the purchase.

Valued Contributor
jsucool76
Posts: 2,770
Registered: ‎12-11-2011

Re: Question on Chase payments

It might be different for the freedom, but most credit cards apply your minimum payments to the lowest interest balance, and any payment ABOVE the minimum payment will be applied to higher interest balances.
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