MBNA Platinum

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Currently I have a standard MBNA card and also a Virgin Credit Card (underwritten and owned by MBNA). The total debt on these two cards is just under £5000.

Not wanting to change my card provider (as I like the service offered by MBNA) I have found their platinum card: https://www.mbna.co.uk/UKCCapp/Ctl/entry?sc=8pt59rfl01_ost&mc=ECO-UK-33333-11200

Is it possible to take out this new card (and introductory rates) and effectively take on the balance of the existing MBNA card and Virgin card. Meaning both balances are contained on this one card, leaving no need for the other two?

Please ask questions if this is not clear.

Comments

  • cifpower
    cifpower Posts: 6,502 Forumite
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    You want to transfer he balances from two MBNA cards to another MBNA card to take advantage of the 0%? This cannot be done unless you do a SBT and clear the balances that way
  • Moggles_2
    Moggles_2 Posts: 6,097 Forumite
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    If there are balances on your current MBNA cards, particularly if either's still charged at 0%, you could certainly be turned down or handed a lowish credit limit by MBNA.

    That said, MBNA doesn't seem to mind customers holding more than one of its cards. I have held three at once.

    If there were no balances on your existing cards, this lender will sometimes transfer your credit limit(s) on the unused card(s) to give you a higher limit on the new, active one, so the MBNA Platinum could be useful in the future ;)
    People who don't know their rights, don't actually have those rights.
  • nickmack
    nickmack Posts: 4,435 Forumite
    First Anniversary Combo Breaker First Post
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    paultither wrote: »
    Is it possible to take out this new card (and introductory rates) and effectively take on the balance of the existing MBNA card and Virgin card. Meaning both balances are contained on this one card, leaving no need for the other two?

    As stated by cifpower, you either need a SBT or an intermediate card to shift the balance to before putting on your MBNA Platinum.

    Once you've cleared the balance on your Virgin/MBNA card, you can usually shift the credit limit across and take full advantage of the 5.9% life on the Platinum card.
  • skybluesaver
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    Agreed, MBNA will not let you transfer a balance from one of their other cards to the 5.9% life of balance transfer card, however as mentioned above, they will allow you to carry out a "super balance transfer" which is transferring money to your bank account then clearing off the cards that way.
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