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New MBNA Card - any drawbacks?

elle_gee Posts: 8,584 Forumite

11 January 2009 at 11:08PM in Credit cards

I've recently received a mailshot from MBNA, offering me a Platinum Plus Visa card with 0% on balance transfers and 0% on cash transfers to current account until Feb 2010 (3% fees on each) plus 0% onpurchases until May 2009.

I'm 24, salary of just over £20k and have the debts in my signature (will clear the credit cards before the 0% periods run out). Was only offered £750 limit with Egg, but was given a Gold Card with £3k limit from N'wide apparently due to a "very good credit history" but that might be to do with having a loan, current account and savings with them too.. not sure.

Ideally, what I want to do it take the max amount from MBNA as a cash transfer to my current account then use it to pay off OH's car HP (which is costing silly interest).

Anyone with any experience of MBNA see any drawbacks with this plan? Any ideas what credit limits MBNA are giving out these days? Many thanks

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