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Question on Chase payments

Valued Contributor

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?

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2 REPLIES
Valued Contributor

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.

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Super Contributor

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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