Is Barclaycard and MBNA owned by the same people?

Jo4

I'll be back in approximately half an hour for any responses as I'm leaving friends house and heading home!

benroles

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

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?

Richard019

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?

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

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!!

2sides2everystory

Jo4 wrote: »

Is Barclaycard and MBNA owned by the same people?

It is now

richardw

2sides2everystory wrote: »

It is now

Do you have a link?

2sides2everystory

Oh yeah silly me ... it's only the MBNA business credit cards so far