Agreed 100% correct.
Lets take an example here - Assume each card has 7500$ limit.
Card A - Amount due - 7500$ - balance that can be spent more will be 0$
Card B - Amount due - 0$ - amount available for balance transfer 7500$
Card C - Amount due - 100$ - amount available for balance transfer 7400$
We transfer money card b to card a.
Card A - Amount due - 0$ - balance that can be spent more will be 7500$
Card B - Amount due - 7500$ - amount available for balance transfer 0$
We transfer money card c to card a. Note we can transfer only 7400$ not 7500$ because i have used 100$ in some other expenses.
Card A - Amount due - 100$ - balance that can be spent more will be 7400$
Card B - Amount due - 7500$ - amount available for balance transfer 0$
life is a test wrote:mehravikas wrote:I agree with @ash_maverick if you have a balance on your card as $100 then that amount should be counted as the unspent amount.
Unless the balance on the card means the amount that you have spent. If that were true, then how can one transfer the spent amount (i.e. the balance) from one card to another card.
ash_maverick wrote:I am shocked to see the answer as 19/30.
From my understanding the answer should be 11/30 as this is the amount that left unspent on the PC.
Can somebody throw light on this as i don;t see much problem in understanding the language of the question.
I agree the q assumes that ppl will know the meaning of balance on a credit card which is the opposite of the balance definition for a bank account for example. In anycase just fyi, the balance transfer is a common feature of credit cards allowing the debt to be transferred to another credit card which may have a lower int rate - you may have seen advertisement for cred cards stating 0% on balance transfers, I.e. You will not be charged by the credit card comp for transferring the debt. Hope that helps.
