MBNA card - 0% on new card purchases?

skyjumper

Hi guys,


Looking for some advice. I have had a MBNA bmi Mastercard for a while now and hasn't been using it for more than a year. Got it when they were having some 0% promotions.



I got a letter recently and so logged in online to see these promotions for me.


0.0% until 17 September 2011 on any new card purchases from £250.01 completed before 28 February 2011

No fee will apply

0.0% until 17 June 2011 on any new card purchases up to £250.00 completed before 28 February 2011


No fee will apply


Am I right in thinking that if I make a purchase for more than £250.00, so I got this 0% offer till Sept 2011. I have 0 balance in the card now, but if I spend on anything less than £250.00 then I kinda forfeit this promotion to end early in June 2011.

Not very computer savvy, so couldn't undo the bold letters, sorry for that. Not very financially savvy too, so looking for advice.

thanx in advance

fozmcfc

If I'm understanding what you are thinking, you are thinking that if you use one of the offers, the other will disappear, but that is not the case.

However IMO, it's normally best to keep it simple and use just one of the offers.

If you use both offers, then on the 17th June the under £250 purchases will attract interest. The good news though is that any payments from the 17th June will at least go towards them first.

The over £250.01 purchases will attract interest from 17th September.

Virgins order of payments means when using two offers which have the same APR, which in this case they do (0% APR), the payments go towards whatever offer starts the earliest.

I personally would just use one or the other and pay it off before either 17th June or 17th September, depending on the offer you use.

skyjumper

thanks fozmcfc,

I guess I was not very clear in expressing my thoughts; but u did pick up what I wanted to know and gave me the answer. I just want to use it for above 250 purchases and avail the offer till Sept 2011.

fozmcfc

Exactly what I have done, except mine started in November and ends in June.

Virgin (MBNA in general) seem to offer loads of 0% offers to existing customers, so always make the repayments and keep them sweet and they will do they same to you in my experience.