mbna

tw28

i have been trying to sort out my mounting credit card debt (and this is without me using it) by seeing if i can transfer it to another one, unfortunatly the debt is 4.800 and i am struggling to find another card which will transfer this amount, is it advisable to maybe split the amount onto 2 cards ?? . i need to get the minimum payments down but by doing this i am not sure if i will be saving much ??, also can i consolidate a loan onto a card ?. I am finding that because my card is with mbna it is like having a thorn in your side when it comes to looking for other lenders to transfer to!

jwil

I'd be wary about trying to apply for too many cards, as this will reflect negatively on your credit report. As you say you can't get enough to transfer it all, does that mean you've been accepted for some? If so, then if you are on the same interest rate as me with MBNA (30-odd %), I would split it!

There are a few cards which will allow you to transfer cash to pay off other things, but I think (I'm not an expert!!) that these are all MBNA variations.

I'm not an MBNA fan myself, but I don't think that having one of their cards will affect your ability to get another card, it is how well you manage your finances, and the amount of credit you have which determines how much of a risk you are.

Best of luck with it, and perhaps post your SOA on the debt free wanabee board so they can help you get your outgoings down to free up some spare cash to throw at the card and get rid of it once and for all!

dubs1967

Hi.Have been down this road as i had a virgin 0% 4 16 months and 2 mbna cards with 4000.They wouldnt let me transfer the amount to the virgin but said i could transfer part of it about a grand.Thats when i realised they were devious money grabbing parasites.DO NOT TRUST MBNA.See my current thread.