Help, trying to understand 0% cards

aquafish_2

I currently have a halifax card i've been using for 0% purchases (the offer runs out in mar). I have another card (mbna) with 0% until May '09. If I transfer some of my purchases onto the MBNA card before May, will I be charged 0% on the amount for the life of the balance or will i be charged interest from May onwards?

cifpower

I thought that for MBNA for the balance transfer to attract the 0% rate it had to happen within the first 90 days of opening the account? This would mean any transfers would attract interest at your standard rate.

aquafish_2

I got the mbna card last april, with a 13 month 0.0% balance transfer offer

cifpower

Well it says on the MBNA application page that 0% for balance transfers is only effective if they are carried out within 90 days of account opening.

aquafish_2

ok...but in my offers page when I log into my account I have
0.0% until 7 May 2009 on all balance transfers.

So, if anyone can help...if I transfer purchases from my halifax card to the mbna card, before 9th May, will I have to pay interest from May onwards or will it be 0% for the life of the balance?

IcklePickle_2

aquafish wrote: »

ok...but in my offers page when I log into my account I have
0.0% until 7 May 2009 on all balance transfers.

So, if anyone can help...if I transfer purchases from my halifax card to the mbna card, before 9th May, will I have to pay interest from May onwards or will it be 0% for the life of the balance?

If that is what's showing on your Promotions or Offers screen on your online MBNA account, then yes it looks like you will get 0% on any balance transfers UNTIL May 2009. (Though always best to check wth them directly first). After the promo period they'll start charging interest.. you should ask what the rate will be - it's likely to be quite high.

That's only 4 months at 0% though, so isn't very competitive, compared to some 0% offers available on the market for new credit cards. How is your credit rating? Would a brand new card be an option?