balance transfer: which amount comes off first?
hi all! i just got an email from discover today stating that i have two promotions available for a balance transfer. one is 5% transfer fee and 0% apr for 12 months and the other is 7.99% apr for 15 months with a $0 transfer fee. i’m leaning towards the 12 month option.
i know that discover doesn’t allow you to do a balance transfer in between discover cards. on my one discover card, i have a balance of $2700 with a 25.99% rate right now. if i were to do this balance transfer, i would have to deposit the funds into my bank account and ideally pay off the amount that’s carrying the 25.99% interest. my question is, when i make payments will it go towards the higher interest rate first, or the balance transfer? i can’t find any info online lol. thank you!