I bought some yard tools over the summer (lawn mower, chainsaw, weed trimmer) when Home Depot was offering 0% interest for a year. I still have several months to pay it off before the interest kicks in, so I haven't been in any hurry. There's only $100 left, and I could pay it off today if I had to.
I was looking at making another purchase at Home Depot and also using the 0% financing. But do I need to pay off the first one before I buy something else with 0% financing? I think this one would only be 6 months of no interest, so I guess the 0% would be up at around the same time.
How do payments work if you have more than one promotion going? Does it pay the older one first? Does it pay the one that expires first? Does it pay a little to both?
I just want to make sure they both get paid off in time before I have interest. In this particular situation, I think it's going to work out to be both ending around June, but I wondered what would happen if one ends in February and the other ends in June.
@AverageJoesCredit wrote:Why complicate things? Pay off the $100 first to finish first promo then enjoy your next 0% promo.
In this situation, I will probably do just that. I'm more interested in the mechanics of how it works.
For example had I just started the 1 year and did not want to immediately pay it off but then saw that I wanted something else that only had 6 months. Would my payments go towards the 6 months purchase first since it's expiring sooner, or to the 1 year purchase since I made that purchase earlier?
I'm sure that it's all explained in the fine print from when I got the credit card, but I just thought that I'd pose the question in case someone had real life experience to chime in with. 
Ah, I may have found the answer to my own question. On the website when making a payment, it shows the old promotion and if I click on it, there is an option to allocate payments to certain promotions. You can select up to 3 promotions and allocate your next payment in a specified percentage to each promotion.
I also found what appears to be the default payment allocation method if you do not specify, which sounds like they only focus on the promotional balance during the last 2-3 months, opting to instead pay your interest purchases first, which makes sense.
"Promotional Payment Allocations
You can select up to 3 eligible Promotional Balances. Payments you make in excess of the Minimum Payment Due, will apply to these balances in the following manner.
One Eligible Promotional Balance: 100%
Two Eligible Promotional Balances: 50% / 50%
Three Eligible Promotional Balances: 34% / 33%/ 33%
For more allocation options, please call Customer Service at 1-800-677-0232."
Then in another section I found:
"How do you apply my payment?
We apply amounts up to the minimum payment due in our discretion based on your purchases, balances, and payments. We generally apply any payments in excess of the minimum payment to higher APR balances first. If you have a “no interest if paid in full” promotional balance on your account, we apply the excess payment to that balance in the last 2-3 billing cycles before the promotion expires. If you have more than one “no interest” promotion, payments will be applied to the earliest expiring promotion first. If you want, you can tell us to apply the excess payment to your promotional balance before higher APR balances (such as regular purchases) by calling us or managing your account online. If you do, you may pay more interest on those higher rate balances."
Thank you for the real world example!