3 card trick - MBNA Style

Afahmaep

I've got 3 MBNA cards on the go £13600 total Limit.

ABBEY £8500 LIMIT £8300 outstanding
AOL PLAT M/C £5000 LIMIT £ 0 outstanding
AOL PLAT VISA £ 100 LIMIT £ 0 outstanding

My ABBEY statement is due tomorrow and I will have until the 15th to pay it off or find a new home for the outstanding balance having just had 0% for 9 months.
As you can see from the bottom limit of £100 I've already taken advantage of transferring LIMITS BETWEEN cards.
Will it work again or will they get the hump.
My AOL PLAT M/C has got 2.9% until July and so my plan is
1 Clear the ABBEY down to ZERO.
2 Transfer limit £8000 over to AOL PLAT M/C giving £13k Limit.
3 Transfer £13k onto EGG MONEY (POSITIVE BALANCE)
4 Transfer £13k into Cahoot(still got 4.24% RATE)

Milarky

Moving the credit limit of the cleared Abbey card onto another MBNA card [the AOL] already offering a promo rate will work IME. The only reservations I would note are:

- Abbey may come back with something better [like 1.9%] as soon as you pay them off. Some people even ring them up and ask them to make an offer, but I've never tried this. So don't be too hasty to snap up the AOL offer until you've checked that alternative isn't available

- What about handling fees? On a capped £50 these are just something to put up with if you can transfer [say] about £12000 for up to 6 months [£50 add about 0.83%pa to even such a large transfer because it's only spread over 6 months and not 12!] Are you getting at least 3.75% 'net' in that case? This just makes the point that getting a 1.9, [or even 0.9] from Abbey could be the better thing to do even if you have to wait a few days longer..

- If you have a cahoot credit card already this offers the potential to do 'short term' 0% balance transfers [PM me if you like and I'll say more how it works]

Afahmaep

- Abbey may come back with something better [like 1.9%] as soon as you pay them off. Some people even ring them up and ask them to make an offer, but I've never tried this. So don't be too hasty to snap up the AOL offer until you've checked that alternative isn't available.

Bingo Milarky.
Paid off Abbey £8300 in full and today got phone call offering 0.9% for 6 months with £50 capped fee for 95% of Credit Limit.
£8075 straight into current A/C and from there to Cahoot.
Had already put £5000 from AOL M/C PLAT onto EGG MONEY with £50 capped fee at 2.9%.
Should have waited and done Credit Limit transfer from AOL to ABBEY!

djblamire

How do you get MBNA to move your 'credit limit' from one of their cards to another?? - Is it just as simple as calling the main number and asking them ??

Eg, If I have an AOL card with £5,000 credit limit, and Abbey card with £5,000 limit, will they just change them to eg. AOL £9500 and Abbey £500 without any further credit checks, or questions ??

Thanks
Daniel

M_Thomson

djblamire wrote:

How do you get MBNA to move your 'credit limit' from one of their cards to another?? - Is it just as simple as calling the main number and asking them ??

Eg, If I have an AOL card with £5,000 credit limit, and Abbey card with £5,000 limit, will they just change them to eg. AOL £9500 and Abbey £500 without any further credit checks, or questions ??

Thanks
Daniel

You have to call them and they will change over the limits for each card.

djblamire

M_Thomson wrote:

You have to call them and they will change over the limits for each card.

Does the main customer service department do this ? - and is it done there and then ?

Thanks again
Daniel

M_Thomson

djblamire wrote:

Does the main customer service department do this ? - and is it done there and then ?

Thanks again
Daniel

Just call the number on your card and they should be able to do it straight away.

djblamire

Thanks for the information.

Daniel