A question for the experts

williamD1964

Ok, I have just cleared my MBNA Virgin card and cancelled the card completely.

Is it possible re-apply for the same card (with the 15 month 0% interest for 15 months) and if so, how long would I have to wait before I did so.

Paul_Herring

Do you have written confirmation of closure?

Normal time for being a 'new customer after closure' used to be 6 months for most of the card companies.

never-in-doubt

williamD1964 wrote: »

Ok, I have just cleared my MBNA Virgin card and cancelled the card completely.

Is it possible re-apply for the same card (with the 15 month 0% interest for 15 months) and if so, how long would I have to wait before I did so.

As above it is usually 6 months but MBNA let you have more than one account so simply apply for a different card that offers a similar deal

YorkshireBoy

never-in-doubt wrote: »

MBNA let you have more than one account so simply apply for a different card that offers a similar deal

...and then, once accepted, ask to move the bulk* of the limit across from Virgin to the new MBNA card.

I always thought it was a 12 month wait for exactly the same MBNA run card, ie Virgin. Maybe it's changed these days, but rather than risk it, or take the word of a CSA for it, I'd probably go for one of their 13 month Platinum cards and bide my time for another Virgin Money application.


* Leaving £500 or so on the old card doubles your chances of promotions in future since you'll have two active cards.

williamD1964

I thought MBNA (and all the other cards, refused to alllow "in House" balance transfers...

YorkshireBoy

williamD1964 wrote: »

I thought MBNA (and all the other cards, refused to alllow "in House" balance transfers...

They do, but with MBNA it's possible to get round it with a (usually more expensive) 'money transfer'.

williamD1964

Ok, being totally thick but whats the difference and can you explain it to me please, and tell me the difference in cost...

I am a novice hear but oh so willing to learn.

Oh and thanks for replying people this has been so helpful

never-in-doubt

Super Balance Transfer (move funds to your bank account, then send payment to clear the other card)..... bus as advised it is a little dearer.

williamD1964

what a spledid idea. Thanks people you really know your stuff

YorkshireBoy

williamD1964 wrote: »

Ok, being totally thick but whats the difference and can you explain it to me please

A balance transfer is a transfer of credit card debt to MBNA. A money transfer is a transfer of overdraft debt (either real or ficticious) to MBNA, ie they'll send 0% cash to your current account.

and tell me the difference in cost...

The "difference in cost" depends on the particular MBNA (or MBNA run) card. You'll find the details in their respective summary boxes.

williamD1964

sorry to be thick (thats the problem with bad genetics) will I be charged at 0% for the balance transfer to my current account? I know I tried a similar thing with NatWest and they said that it would be charged at my normal rate, with no 0%.