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MBNA Virgin American Express Card
Merlin139
Posts: 7,346 Forumite
I applied for an Virgin American Express Card with MBNA on Monday and recieved it this morning with a credit limit of £8700
I only wanted it to get the 3000 miles for for the Virgin Flying club. When I ativated it this morning I was told that I could transfer £8200 into my current account intrest free for 6 months. I would have to pay a 2% fee up to a maxium of £50
If I put it an account paying 5% net over 6 months I could make £205 - £50 = net gain of £155
I have used the card today to get the 3000 miles and will pay it off on Monday or Tuesday as soon as it appears on the account.
Am I missing something or it as easy as that?
Grateful of any advice or confirmation.
Have already used mine and wifes ISA allowance for the year.
I only wanted it to get the 3000 miles for for the Virgin Flying club. When I ativated it this morning I was told that I could transfer £8200 into my current account intrest free for 6 months. I would have to pay a 2% fee up to a maxium of £50
If I put it an account paying 5% net over 6 months I could make £205 - £50 = net gain of £155
I have used the card today to get the 3000 miles and will pay it off on Monday or Tuesday as soon as it appears on the account.
Am I missing something or it as easy as that?
Grateful of any advice or confirmation.
Have already used mine and wifes ISA allowance for the year.
3.795 kWp Solar PV System. Capital of the Wolds
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