I have two different interest rates on a credit card, so when I make a payment, where is the payment applied, to the higher interest or the lower?
If you make the minimum payment, the payment will be allocated in any way the card issuer/creditor wishes (this allocation is described in the account contract, and is likely to be the balance with the lower rate). If you pay more than the minimum, the extra portion of the payment should be applied to the portion of the balance with the higher rate.
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If you make the minimum payment, the payment will be allocated in any way the card issuer/creditor wishes (this allocation is described in the 