Is Barclaycard and MBNA owned by the same people?

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  • Jo4
    Jo4 Posts: 6,819
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    I'll be back in approximately half an hour for any responses as I'm leaving friends house and heading home!
  • Yes... it will incur interest also at the specified rate. So you transfer £1000 with a 3% fee. You end up with £1030 on the card all of which will be incurring interest at the specified rate, in this instance 6.9%. I assume you are looking at the Barclaycard life-of-balance special for exisiting customers?

    B.
  • Jo4
    Jo4 Posts: 6,819
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    benroles wrote: »
    Yes... it will incur interest also at the specified rate. So you transfer £1000 with a 3% fee. You end up with £1030 on the card all of which will be incurring interest at the specified rate, in this instance 6.9%. I assume you are looking at the Barclaycard life-of-balance special for exisiting customers?

    B.

    Are you saying that the first months repayment will be x + £30 on each £1,000 and on the second and subsequent months the amount will be x? Therefore my friend will be charged 6.9% on the entire bt and not 6.9 and 2 to 3% as well? :confused:
  • Jo4 wrote: »
    Are you saying that the first months repayment will be x + £30 on each £1,000 and on the second and subsequent months the amount will be x? Therefore my friend will be charged 6.9% on the entire bt and not 6.9 and 2 to 3% as well? :confused:

    They're saying that when they transfer the balance 3% will be instantly added to it as a one off payment. So instead of owing MBNA £1,000 and being charged 24.9% interest (or whatever they're charging your friend) the debt will then be £1,030 and until it is paid off the interest will be 6.9%.
  • Jo4
    Jo4 Posts: 6,819
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    Thought they might continue to charge 2 interest rates, one at 2 to 3% and the other at 6.9% so thanks for clarifying that for me and my friend!!
  • Jo4 wrote: »
    Is Barclaycard and MBNA owned by the same people?
    It is now :p
  • richardw
    richardw Posts: 19,458
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    It is now :p

    Do you have a link?
    Posts are not advice and must not be relied upon.
  • Oh yeah silly me ... it's only the MBNA business credit cards so far ;)
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