Credit card transfer mistake

[SoRad]

I have debt on 2 CCs, I don’t use them, just paying them off.

They were both 0% up until now. I’ve been snowballing the one which has just come to the end and paying the minimum on the other… the 0% is for another year.

Due to the 0% ending on CC1 I have today transferred the remaining balance to CC2 with an offer of 0% for the next 12 months. Happy days… debt is now all in one place and all on 0% for the next year.

It’s just shy of £4.5 and I’ll be paying £400 each month so hopefully I’ll have it paid off within the promotion offer.

However, I’ve just done the transfer now, it’s still pending until tomorrow. But my monthly payment of £400 on CC1 is also due out! So I’m not sure how it’s going to turn out? Will CC2 just take what’s in CC1 even if it’s £400 less? Or will I end up £400 in credit on CC1 and is this an issue?

thanks

it's not a problem if you do end up with a credit balance on CC1, you can either ask for it to be returned, or if they won't do that just use it for any spending instead of using your debit card and the money will end up back in your bank that way instead.

It shouldn't be a problem either way!

Thanks! That’s what I was hoping would happen.

I had some scary weird thought that once CC1 balance was cleared they’d
close the account and the money would be lost 🙄