MBNA and money transfers

ti1980

I understand that MBNA are ending SBTs and instead calling them money transfers instead. Does anyone know when the last date for doing an SBT and therefore getting it at the old rate is?

YorkshireBoy

ti1980 wrote:

Does anyone know when the last date for doing an SBT and therefore getting it at the old rate is?

I have no idea, but why not use their cheques instead? They're treated the same as BT's according to section's 2b & 2c of the MBNA T&C's...

https://wwwa.applyonlinenow.com/UKCCapp/Ctl/link?eid=DE767C25

ti1980

I've never had any cheques from MBNA, do you just request them?

ti1980

That link doesn't seem to be working anymore.

YorkshireBoy

ti1980 wrote:

That link doesn't seem to be working anymore.

It works for me!

Bear in mind though, that if you already have an MBNA card, the T&C's on your credit agreement (subject to any notified variations) are the ones that govern your contract with them.

grumbler

ti1980 wrote:

That link doesn't seem to be working anymore.

Doesn't work for me too ... The other link is:

https://wwwa.applyonlinenow.com/UKCCapp/Ctl/validate?eid=6EC24DD

( for MBNA Platinum Plus MasterCard)

ti1980

I think I had better phone them and find out what applies to my account. I thought that on my account is a 2.9% balance transfer and this is valid until the start of January according to the website. I was going to wait until the end of December to do a transfer but I might have to do it earlier if new interest rates are going to apply soon.

Thanks for the replies.

Milarky

ti1980 wrote:

I think I had better phone them and find out what applies to my account. I thought that on my account is a 2.9% balance transfer and this is valid until the start of January according to the website. I was going to wait until the end of December to do a transfer but I might have to do it earlier if new interest rates are going to apply soon.

Thanks for the replies.

Can you expand on why you want to avail of this short term offer? Are you only intending shifting your debts temporarily to them [for the shortest possible period] in order to be able to move it on quickly to a 0% card elsewhere? Remember a 2% fee [or is that 3% in some cases, now] will apply and the 'best' you can hope for there is that it is capped at £50 depending on the size of transfer you make. It may suit your needs, but the idea of paying MBNA a fee for holding this debt for a month [of January] by the look of it seems daft. [No offence intended]. You might be better off [if you can] asking another card provider that doesn't charge a fee to balance transfer for you. You could be offered a life of balance rate [say 5.9*] that over a few months betters the off from MBNA with attached fee.

*If you already have a Nationwide Classic card you can get a 12 month fee-free transfer at that rate until 18th November, I think. Can't transfer to a current account however. You need an Egg card really [Everyone needs an Egg card on this board!]

ti1980

I don't think I explained myself properly. What I meant was that I could do a BT to my MBNA card at a rate of 2.9%. There is a fee which is capped at £50. This is available until Jan so if I did the BT at the end of Dec then it would last until the end of June. Or I could instead transfer the money to my current account with the same fee involved.

I can't get another card with my credit record so I'm stuck with trying to BT around with the cards I have. At the moment I have 2 cards which are empty, but I don't want to close them in case any special BT offers come up.

smarmo

I received MBNA cheques today. The small print has changed and I'm not sure I know what it means:

"a handling fee of 2% (min £3, maz £50) will be applied to allo cheque transactions and balance transfers, unless you have been notified of a change in terms and conditions during August or September. For cash transactions, including money transfers a handling fee of 2% (min £3, max. unlimited) will apply, unless you have been notified of a change in terms and conditions in August or September."

Is this some sort of trap? What if I have received the change in terms and conditions, what then? Very unclear.

Anyone know what's going on?

Ta.

S