Crazy MBNA offer

FiatDino

No - please read the previous posts. The problem is not the success, it's the continuous broadcasting of it on what I believe to be the wrong channel.

I congratulate you on breaking the mould and escaping to a more exciting world than the security of a high street deposit account, but there are plenty of forums out there for equity speculators and spreadbetters where you'll probably find a much more appreciative audience.

TTMCMschine

They were 0% credit card cheques. This is the CC stoozing board. It is just that some people resent success.

GettingThingsDone

I thought stoozing was taking advantage of differential interest rates, so by that measure you have failed...

TTMCMschine

Oh well,
back to the drawing board.

chun831

Am doing well on the stoozing front but I have used up the no-fee cards and now about to try the MBNA one due to the £50 fee cap. My questions are:
a. Are they pretty good giving out high credit limits?
b. If we transfer say £10,000 and then charge you a £50 fee, do I pay interest on that fee or not?
I am going round in circles reading the terms and conditions

Thanks in advance . . .

YorkshireBoy

chun831 wrote:

a. Are they pretty good giving out high credit limits?
b. If we transfer say £10,000 and then charge you a £50 fee, do I pay interest on that fee or not?

Yes, high limits...and no, no interest on the BT fee.

I am going round in circles reading the terms and conditions

Seen this bit?...

Minimum payment

The lesser of:

• 2.25% of your balance (min. £5) or
• charges for Payment Protection Cover plus interest and fees, plus £5 or
• your balance, if it's under £5.

Your introductory period minimum payments will be based on option 2

The first payment will be:

£0 + £0 + £50 + £5 = £55

Subsequent minimum payments will be:

£0 + £0 + £0 + £5 = £5

Assuming of course the BT fee is £50 (and I don't think it is).

chun831

You are right of course about the fee cap - That is Morgan Stanley who have that capping of fees. I have read their T&Cs and find almost the same ie the fee will not generate interest I think. Do we know this? and do they give out high credit limits or not?

TTMCMschine

I mentioned Sareum (SAR) a few posts back - should fly tomorrow

davidmjh

How would you draw the money out to put in savings account? if its drawn out cash then doesnt the credit charges still apply as they cahrge more for cash withdrawn & do you get interst on the balance strait away? or are the terms different on this credit card?

jamesd

That's what credit card checks do: cash advances so no extra cost for money in the bank.