mbna sony card

simmo116

Hi im a newbie to this so you will have to excuse me but this "stoozing looks like a good idea. ive just been given an mbna sony card to the tune of 7500 and was told by the lovely lady upon activating it that she could transfer that balance to my current account at 0% until nov 2007 free of charge. should i put this amount in high savings? i was thinking of getting 11 months free premium bonds??? what sort of minimum payments would i be looking at each month? i also have an egg money manager account. and am in neutral debt...any sugestions would be great...thanx

tom188

The sony card should have a handling fee of 2%. Therefore make sure wherever you put it the money will be earning at least this rate at your tax level. PBs are therefore inadvisable as if you dont win you'ra down to the tune of £150. The minimum payment is 2.25% so would be around the £170 mark initially.

YorkshireBoy

tom188 wrote:

The minimum payment is 2.25% so would be around the £170 mark initially.

The first minimum payment would be £147.50 (BT* fee + £5), and then just £5 per month for the rest of the introductory period.


* Max (S)BT is £7,125 (95% of credit limit).

tom188

The first minimum payment would be £147.50 (BT* fee + £5), and then just £5 per month for the rest of the introductory period.

I know this is normally the case on an MBNA card, but just couldnt see it written anywhere on this particular card.

Not is summary box:

or terms and conditions:


So presumed that it was not the case on this card.

YorkshireBoy

tom188 wrote:

Not is summary box:

From your summary box link...

Monthly minimum payment:

The lesser of:

• 2.25% of your balance (minimum £5) or
• charges for Payment Protection Cover plus interest and fees plus £5 or
• the balance, if this is less than £5.

You'll find similar text in the T&C's as well.

adm_4

Has anybody had trouble getting this card? Both myself and wife where turned down and refused a chance to appeal :mad: