topic Re: Helpful payment info from Barclay in Credit Cards

Helpful payment info from Barclay

crrredit — Thu, 02 Jun 2016 19:59:50 GMT

I transferred a balance to my Barclaycard to take advantage of 0% financing. Since the transfer I made a few purchases. I want to make payments that result in my not paying any interest, without having to pay the total balance. Thankfully, Barclay includes that specific info. Toward the end of the statement, it tells me exactly how much I need to pay that month to avoid paying interest. It's handy to have that spelled out directly, so I don't have to call Stephen Hawking to figure it out for me.

Not sure if other cards do the same, or if it's a legal requirement. If not, kudos to Barclay for providing it.

Re: Helpful payment info from Barclay

Bman70 — Thu, 02 Jun 2016 20:08:15 GMT

Yeah it's a great feature, I use it all the time to make purchases while carrying BT, and avoid interest. Capital One does the same if you get a 0% offer.

Re: Helpful payment info from Barclay

UncleB — Thu, 02 Jun 2016 20:19:57 GMT

@Bman70 wrote:

Yeah it's a great feature, I use it all the time to make purchases while carrying BT, and avoid interest. Capital One does the same if you get a 0% offer.

That is a great feature, and I really appreciate that Capital One does that. I will add that Discover does not do that... if you have a 0% balance transfer promotion with them you need to SD the card unless you also have a 0% promotion for new purchases as well (such as when the account is new).

I also activated my Bank of America BBR a few days ago and a CSR helped me move a balance over to it. He specifically told me there was no way to avoid paying interest on new purchases as long as I'm carrying a 0% BT, so that card will go to the SD for the next year or so. Most likely the card will be over a year old before it gets swiped for the first time... LOL.

Re: Helpful payment info from Barclay

Bman70 — Thu, 02 Jun 2016 20:22:18 GMT

@UncleB wrote:
@Bman70 wrote:

Yeah it's a great feature, I use it all the time to make purchases while carrying BT, and avoid interest. Capital One does the same if you get a 0% offer.
+1

That is a great feature, and I really appreciate that Capital One does that. I will add that Discover does not do that... if you have a 0% balance transfer promotion with them you need to SD the card unless you also have a 0% promotion for new purchases as well (such as when the account is new).

I also activated my Bank of America BBR a few days ago and a CSR helped me move a balance over to it. He specifically told me there was no way to avoid paying interest on new purchases as long as I'm carrying a 0% BT, so that card will go to the SD for the next year or so. Most likely the card will be over a year old before it gets swiped for the first time... LOL.

Yep same with my Bofa BBR. It's pretty much SD'd until the 0% is paid off. But the great thing about BT on that card is you still earn the quarterly $25.

Re: Helpful payment info from Barclay

DoroLucky — Thu, 02 Jun 2016 20:23:58 GMT

I will just leave this right here LOL

http://ficoforums.myfico.com/t5/Credit-Cards/Barclay-balance-transfer/td-p/4620608

Re: Helpful payment info from Barclay

crrredit — Thu, 02 Jun 2016 21:17:45 GMT

I talked to Comenity (Wayfair card) about this, because I used a deferred interest offer on one item and bought another item since. They said after the minmum payment and any outstanding fees, they apply the payment to the items with the highest interest rate first, then the promo balance with the earliest end date. So theoretically, I can pay the minimum plus enough to cover my non-promo purchases and I won't be charged interest. But, to get back to the original point of this thread, Comenity does not indicate on the statement the amount I need to pay to avoid interest. I have to figure it out myself. Or call Stephen Hawking.

Re: Helpful payment info from Barclay

Anonymous — Fri, 03 Jun 2016 22:29:19 GMT

@UncleB wrote:
@Bman70 wrote:

Yeah it's a great feature, I use it all the time to make purchases while carrying BT, and avoid interest. Capital One does the same if you get a 0% offer.
+1

That is a great feature, and I really appreciate that Capital One does that. I will add that Discover does not do that... if you have a 0% balance transfer promotion with them you need to SD the card unless you also have a 0% promotion for new purchases as well (such as when the account is new).

I also activated my Bank of America BBR a few days ago and a CSR helped me move a balance over to it. He specifically told me there was no way to avoid paying interest on new purchases as long as I'm carrying a 0% BT, so that card will go to the SD for the next year or so. Most likely the card will be over a year old before it gets swiped for the first time... LOL.

I had no idea!!! I just did a BT to my Discover IT but I also charged a few things since then....so my payments to Discover are applied to the BT first?

Re: Helpful payment info from Barclay

UncleB — Fri, 03 Jun 2016 23:35:50 GMT

@Anonymous wrote:
@UncleB wrote:
@Bman70 wrote:

Yeah it's a great feature, I use it all the time to make purchases while carrying BT, and avoid interest. Capital One does the same if you get a 0% offer.
+1

That is a great feature, and I really appreciate that Capital One does that. I will add that Discover does not do that... if you have a 0% balance transfer promotion with them you need to SD the card unless you also have a 0% promotion for new purchases as well (such as when the account is new).

I also activated my Bank of America BBR a few days ago and a CSR helped me move a balance over to it. He specifically told me there was no way to avoid paying interest on new purchases as long as I'm carrying a 0% BT, so that card will go to the SD for the next year or so. Most likely the card will be over a year old before it gets swiped for the first time... LOL.
I had no idea!!! I just did a BT to my Discover IT but I also charged a few things since then....so my payments to Discover are applied to the BT first?

That's the way I read the 'fine print'... (and it's one of the few places Discover falls short, IMO):

Re: Helpful payment info from Barclay

Anonymous — Sat, 04 Jun 2016 04:16:39 GMT

@UncleB wrote:
@Anonymous wrote:
@UncleB wrote:
@Bman70 wrote:

Yeah it's a great feature, I use it all the time to make purchases while carrying BT, and avoid interest. Capital One does the same if you get a 0% offer.
+1

That is a great feature, and I really appreciate that Capital One does that. I will add that Discover does not do that... if you have a 0% balance transfer promotion with them you need to SD the card unless you also have a 0% promotion for new purchases as well (such as when the account is new).

I also activated my Bank of America BBR a few days ago and a CSR helped me move a balance over to it. He specifically told me there was no way to avoid paying interest on new purchases as long as I'm carrying a 0% BT, so that card will go to the SD for the next year or so. Most likely the card will be over a year old before it gets swiped for the first time... LOL.
I had no idea!!! I just did a BT to my Discover IT but I also charged a few things since then....so my payments to Discover are applied to the BT first?
That's the way I read the 'fine print'... (and it's one of the few places Discover falls short, IMO):

Ditto! I never paid attention to it before because generally I use my IT for BTs. I'm glad you brought it to my attention on another mod because I would have been screwed this quarter. Good lookin' out UncleB.

Re: Helpful payment info from Barclay

RonM21 — Sun, 05 Jun 2016 16:09:55 GMT

I agree nice feature to have vs not being in the know and just assuming or guessing.