Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • TheShape
    • By TheShape 7th Mar 17, 10:35 PM
    • 1,011Posts
    • 768Thanks
    TheShape
    MBNA Money Transfer Offer
    • #1
    • 7th Mar 17, 10:35 PM
    MBNA Money Transfer Offer 7th Mar 17 at 10:35 PM
    Received an email today from MBNA offering a fee-free money transfer offer at 4.9% for transfers between 01 March and 31 March.

    I just so happens that I applied for a Halifax (£8K credit limit) no-fee, 0% BT card on Friday with the intention of using the MBNA card (5.2K credit limit) as a Mule for a £5k balance transfer (MBNA into credit) and topping it (the Halifax card) up to the limit (95%) with a balance transfer from my other cards which have balances.

    I'm thinking that instead I could complete a money transfer from MBNA followed by an immediate balance transfer to Halifax and repeat a second time to fill the Halifax card. The cost should be minimal as I'll incur the 4.9% for only a few days while the BTs complete.

    I could then apply for another BT card in the near future and use the MBNA as a mule at that point complemented by transferring the remainder of my outstanding balances.

    The MBNA has a zero balance.

    Is/are there anything/pitfalls I've not thought of?
    Last edited by TheShape; 07-03-2017 at 11:38 PM.
Page 5
    • TheShape
    • By TheShape 8th Sep 17, 5:07 PM
    • 1,011 Posts
    • 768 Thanks
    TheShape
    Just had a letter (again) offering fee free BT & MT @ 6.9% for 60 mths. Seem to get one every month now. Pity I am maxed and have not got anywhere to BT some to.
    Originally posted by molerat
    Again?! No further offers for me.

    Applied for a MBNA 0% purchases card. Declined. Reason given - MBNA believed my current Credit Limit £5200 was sufficient based on my income £30100 (wage + investment income).

    Where next? I'm a couple of days from having my Halifax card for 6 mths so may drop in to Halifax or Lloyd's and enquire about the likelihood of getting another card.
    Last edited by TheShape; 08-09-2017 at 5:09 PM.
    • molerat
    • By molerat 14th Sep 17, 3:10 PM
    • 16,987 Posts
    • 11,174 Thanks
    molerat
    .........................The man from Tesco he say NO and sent me a nice letter about responsible lending and how my credit file shows a large amount of credit card borrowing. .................
    Originally posted by molerat
    But has just seen fit to increase my current card credit limit
    www.helpforheroes.org.uk/donations.html
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

118Posts Today

1,899Users online

Martin's Twitter