MBNA Rate For Life 5.9% (1% fee)

Calchas

I'm no expert, but this rate looks pretty good for someone looking to either park debt or use the money transfer facility as a long term loan.

http://www.mbna.com/uk/index.html

Any good to anybody?

Bismarck

useful...I'm not appyling for any thing new at the moment though - I hope it's not just a teaser where they either give you a pants credit limit or decide to offer you something else!

Moon_Boi

Calchas wrote: »

I'm no expert, but this rate looks pretty good for someone looking to either park debt or use the money transfer facility as a long term loan.

http://www.mbna.com/uk/index.html

Any good to anybody?

Looks like an excellent offer!

Calchas

Almost as good as your jugs, Moon_Boi!!!:T :j :eek:

JWM

Hmmm, I have an A&L MBNA card, can I apply for this one and then move my balance to it to get teh 5.9% LOB?

That would be most handy!

YorkshireBoy

JWM wrote: »

Hmmm, I have an A&L MBNA card, can I apply for this one and then move my balance to it to get teh 5.9% LOB?

Possibly, but not directly. You'll need to use a 'money transfer' on the 5.9% card.

bbford

can existing customers get this deal?

Bismarck

I'll ask next time my deal runs out....

Moggles_2

bbford wrote: »

Can existing customers get this deal?

MBNA doesn't seem to mind customers holding more than one of its cards. I've held up to three at once.

That said, if there's a balance on your MBNA card, particularly if it's still charged at 0%, you could certainly be turned down or handed a lowish credit limit.

OTOH, if there's no balance on your existing card, this lender will sometimes switch your credit limits around to give you a higher limit on the new MBNA card

lewis1906

Was considering applying for this card to use as a car loan.

Anyone used it? Have any idea of the average credit limit and would £5k be an uncommon amount to get?

Also considering risking them only offering £2.5k splitting 50/50 with the card and a loan.

Any advice?

benroles

I have held an MBNA card for about 5 years now. Since getting that card I've taken advantage of the Virgin MBNA offer (0%, no fee) when it came out (albeit briefly!). I've since closed that card.

I then saw this LOB offer on the new card, applied for that and again was accepted without issue. As has been suggested you can move around your limits betwen MBNA cards. Hence I maximised the Virgin deal and with this new card was able to shift all my credit limits to the new card (totalling £9700).

So my experience has been that you can get good limits and can apply even if you have had (or still hold) MBNA cards. In fact, I have a sneaking suspicion you might be MORE likely to get a card if you've got past history with MBNA as they know you are a good customer. This is particularly true if (like me) they make a bit of money off you in fees etc. when you move things around.

I applied online and it said accepted. I then immediately rang them up to discuss credit limits which is when they did the swap-about with limits. All done and dusted within about 10 minutes and the card came about a week later.

I've always had an excellent service from MBNA.