Alternative to MBNA Everyday Plus

rydlloyd
rydlloyd Posts: 4 Newbie
in Stoozing: free cash from credit cards
Hi All

I was all set to delve in to the world of stoozing and had intended on getting the MBNA Everyday Plus card for the purpose of muleing however it seems that they are not currently offering this card.

Do we know if this is cyclical and likely to be offered again in the near future? Or do I need to be looking at if there are any suitable alternatives?

I've seen people state that any MBNA card will be suitable as they will refund positive balances to your linked bank account but I just wanted to confirm whether this would be fee free if the card has a money transfer fee?

Cheers
R

Comments

  • JimmyTheWig
    JimmyTheWig Posts: 12,199 Forumite
    Name Dropper First Post Combo Breaker First Anniversary
    A refund of a positive balance isn't a money transfer and so doesn't attract a fee.

    You can't guarantee being able to do it, however, and it would be hard to argue against being charged a BT fee (if they charge one) from your other card if MBNA return the funds to them. In which case you'd be down on the deal.
    But the general consensus is that you can do it.
  • mrs_T
    mrs_T Posts: 1,017 Forumite
    First Post First Anniversary Combo Breaker
    Done this successfully with Barclaycard in the past.
  • Ben8282
    Ben8282 Posts: 4,821 Forumite
    Combo Breaker First Post Newshound!
    If you are new to stoozing why exactly do you want to do this questionable thing? Why not just apply for a 0% purchases card and allow a balance to build up that way if you don't have a balance to transfer rather than trying a BT to a card with no balance and trying to get the credit balance refunded to your bank account?
    Or perhaps apply for a card which offers money transfers?
  • rydlloyd
    rydlloyd Posts: 4 Newbie
    Because its the most efficient way in terms of time and fees suffered
  • Ben8282
    Ben8282 Posts: 4,821 Forumite
    Combo Breaker First Post Newshound!
    edited 11 November 2016 at 4:46AM
    rydlloyd wrote: »
    Because its the most efficient way in terms of time and fees suffered
    If you say so.
    Perhaps your opinion will change when you get the card cancelled for breach of terms and conditions.
    Advising a first time stoozer to start stoozing by doing a balance transfer to a card with no balance and trying to get the money 'refunded' into his bank account from the card which has been put into credit cannot be considered sound advice.
    Your OP is also slightly confused. You want to apply for an MBNA card, presumably to do the balance transfer from, so it would be the card that you transfer to which will be in credit not the MBNA card?
    Or do you plan to open a new MBNA credit card account for the sole purpose of putting the new account into credit by existing customer balance transfer and then getting the new card to transfer the money free to your bank account? They will love that if the very first transaction on a new credit card is to put it several thousand pounds in credit!
  • rydlloyd
    rydlloyd Posts: 4 Newbie
    I think my OP was pretty clear in the fact that I was intending on using the card for the purpose of muleing.

    Thanks for your helpful posts Ben.
  • Anders_Theet
    Anders_Theet Posts: 11 Forumite
    Ben, thanks for your comments - very helpful!
This discussion has been closed.
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