MBNA Virgin American Express Card

Merlin139

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.