MBNA balance transfer offer

Sumostar

Good morning everyone

I phoned MBNA today in response to a letter they sent me in November. The letter offered 3.9 % on balance transfers until May '06 but with a 2 % handling fee. Not a brilliant deal but saves all the messing about taking out a new card.

I explained this to the Customer Services bod. who then asked me if I knew about the new offer that had become available today - 0.9 % until June '06. It still has the 2 % handling charge but this is capped to £50 per transaction.

Might be worth considering if you are an existing customer and only need a short term deal.

Backbiter

Sumostar wrote:

I explained this to the Customer Services bod. who then asked me if I knew about the new offer that had become available today - 0.9 % until June '06. It still has the 2 % handling charge but this is capped to £50 per transaction.

Might be worth considering if you are an existing customer and only need a short term deal.

Are you sure about this? I was offered 0.9% till June 06, but with an uncapped 2% fee. That was last week, mind.

ceebee_2

I was offered the same deal last week (0.9 percent for 6 months) but no mention of any BT fee. Asked for the offer to be put in writing but am still waiting.

ti1980

I'm still waiting for them to get back to me. They phoned me last week but I was on my way out and didn't have time to 'negotiate' myself a deal so they said they could call me back but AFAIK they haven't done yet.

Think I may have to phone them myself but am reluctant to do that as I thought that I would have more bargaining power if they do the phoning 'well you phoned me' sort of thing.

dc

ti1980 wrote:

I'm still waiting for them to get back to me. They phoned me last week but I was on my way out and didn't have time to 'negotiate' myself a deal so they said they could call me back but AFAIK they haven't done yet.

Think I may have to phone them myself but am reluctant to do that as I thought that I would have more bargaining power if they do the phoning 'well you phoned me' sort of thing.

Phone them about something else on the freefone number 0800 , say a query about internet statements or what is involved in changing payment days, and before they finish they usually ask if you have any other cards? and would you like to do a BT?, starting at 1.9%. then you can negotiate without being the first to mention it.

HTHs dc

ti1980

Thanks to the OP, as I managed to get a balance transfer from MBNA for 1.9% for 6 months. My current offer from them which is 2.9% was about to run out in the next 3 weeks so I needed to sort this out ASAP which is now done and I don't have to worry about this one until 5 months time in which case I plan to have cleared most of the balance owing on it. :j

I had to pay a handling fee which was £46 (2%) but seeing as that is the amount of interest I used to pay in 2 months on the card when my rate was at 24.9% this was a small price to pay.

Now just need to sort out one of my other cards. :beer:

M_Thomson

Backbiter wrote:

Are you sure about this? I was offered 0.9% till June 06, but with an uncapped 2% fee. That was last week, mind.

It depends when you took out your card. Some people who took out their cards a few years ago have BT fees that are capped at £35 £50 or £75 and some people have BT fees that are uncapped. Check your t's and C's.