How long before applying for another mbna card?

dhassen

Hi all,

After 2 great balance transfer deals from Virgin, they've now upped the rate to 29.9 and aren't budging, or offering any new promotions. I've closed the account (they didn't put up much of a fight either!) , and wondered if anyone knew how long it would be before I could apply for another MBNA card?

Thanks

Moggles_2

Lenders vary in this respect, as with everything else. As you know, some will not consider applications from former cardholders for various periods following closure. Others like MBNA accept applicants straight away.

In all cases, it's advisable to check your credit reports to make certain the account is actually closed down and marked "settled" before you re-apply.;)

dhassen

cool. I wonder how long it usually takes to be marked as settled?

YorkshireBoy

dhassen wrote: »

I've closed the account

Bad move! You should have applied for another MBNA run card by phone and then asked them to transfer all but £100 of the credit limit over to the new card.

That way, you're doubling your chances of future offers by holding two cards with them.

Moggles_2

dhassen wrote: »

I wonder how long it usually takes to be marked as settled?

Good point. Unlike credit checks (and an increasing number of online and telephone credit card applications) which appear on your credit file more or less in realtime, this type of data is reported to the CRAs at monthly intervals.

The whole process (from the initial phone call to your lender to cancel) can sometimes span a couple of months and, IME, there's little you can do to chase things up, so allow plenty of time.;)

dhassen

thanks for that moggles, I'll leave it a while.
YB, if I've pulled a bad move then so be it! I'm glad to have one of my accounts closed though.

just concerned whether I'll be accepted for anything new nowadays! It was last April the last time I was accepted for anything.

dhassen

Just applied for MBNA platinum online.

Was 'offered' 19.9% APR, but with the May 2010 BT offer.

Will get definite response in 7-10 working days.... fingers crossed!!!

Snooze

dhassen wrote: »

thanks for that moggles, I'll leave it a while.

Then, 3 hours later

dhassen wrote:

Just applied for MBNA platinum online

:rolleyes:

Who wants to guess the outcome here then? :rotfl:

Rob

dhassen

lol well I guessed that seeing as MBNA run virgin, they'd be able to see straight away that it's cancelled. And I'm impatient.

EDIT: lol I bet I look a right n*b!

dhassen

Snooze wrote: »

:rolleyes:

Who wants to guess the outcome here then? :rotfl:

Rob

well, fortunately for me I got accepted, and was given a 5K limit. That covers almost everything. Nice one MBNA!