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When we are allocating your payments in the above order, we will take the following into account:
- At each stage, we pay off balances with the highest interest rate first, before repaying those on lower interest rates. This doesn’t apply to instalment plans.
- Where we charge interest on multiple promotional balances at the same rate, we will pay off the balances in the order that the promotional rate is due to end (for example, a balance transfer that is due to end in two months’ time will be paid off before another that ends in six months’ time).
- Where promotional rates end at the same time, we will pay off the balances in the following order: Money Transfers, Balance Transfers, and then Card Purchases.
- Instalment plans are paid off in the order they are due to end.
- Where instalment plans end at the same time, we will pay off the plans in the following order: Money Transfers, Balance Transfers, and then Card Purchases.
- Any additional payments put towards an instalment plan will go to the final payment of the instalment plan, then to the payment before that and so on working backward.