Transferring MBNA credit card

S

Star10

Registered User
Messages
33
Is it possible to change from an MBNA credit card to another one owned by them...e.g One Direct to avail of interest free payments for a period or would I have to go to another company altogether? Has anyone done this?
 
Nope, all 0% balance transfers between cards must be to/from non-MBNA cards.

HOWEVER, what you can do is transfer the cash at 0% into you current A/C and then use the cash to pay off the MBNA card. Been there done that
 
Hi Flossie, thanks-so do you mean transfer cash from another different company credit card?
 
Star10 said:
Hi Flossie, thanks-so do you mean transfer cash from another different company credit card?
Click to expand...

You can not transfer balances from one MBNA card to another one. Yes you can get another MBNA but you can't transfer balances from MBNA to that.

What you can do is take a balance transfer amount to your current account (they currently have a promotion of 0% on it until February).

Than after a couple of days you pay the money back to your MBNA card and as they always apply the payment to outstanding balance with the higher % apr first you have an advantage.

Check your T&C in respect of fees/offers/payment allocation but generally this is possible.
 


Can you explain this a little bit more please DublinTexas. I have a balance on an MBNA credit card that I'm struggling with and would love to be able to bring it down as much as possible or make repayments easier at least.

Thanks
 
EmperorG said:
Can you explain this a little bit more please DublinTexas. I have a balance on an MBNA credit card that I'm struggling with and would love to be able to bring it down as much as possible or make repayments easier at least.

Thanks
Click to expand...

An example is best :

MBNA Card (A) - Balance €1000 @ 15.9% APR

Apply for and get approval for New MBNA Card (B) - Limit €1000 with Balance Transfers @ 0% for 10 months

Transfer €1000 from Card (B) to Current A/C - 0%
Transfer €1000 from Current A/C to Card (A)
Balance on Card (A) cleared - now close the card.
You have 10 months @ 0% to pay off card B before incurring interest charges.

Bear in mind you will incur stamp duty for card B.
 
interesting!!... thats made things clearer for me

thanks nai
 
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