MBNA credit limits

merch

I will be looking to apply for an MBNA cc soon, hopefully with as big a limit as possible. This will be for SBT and 'money shuffling' reasons!
Does it make a difference if I apply for a lifestyle card or a Platinum Plus or any other card? What one, if any gives the biggest credit limit? Any first hand/experienced advice welcomed!
dazed, your thoughts may be particularly enlightening!

Phoenix79_2

I have the Platinum Plus MBNA card and its limit is £7k which is the second highest limit i have had on a credit card (had about 10 or 11).

Can't answer any of your questions though!

dazed

merch wrote:

I will be looking to apply for an MBNA cc soon, hopefully with as big a limit as possible. This will be for SBT and 'money shuffling' reasons!
Does it make a difference if I apply for a lifestyle card or a Platinum Plus or any other card? What one, if any gives the biggest credit limit? Any first hand/experienced advice welcomed!
dazed, your thoughts may be particularly enlightening!

How did I get involved in this

imo Virgin tends to get the 'bigger' limits but it is all down to your credit history and also the 'exposure' (the amount of available credit you have elsewhere, not trying to teach you to suck eggs of course )

Each application is looked at by a person not a machine that cracks figures and spits out the result at the end.

Also do you have any other MBNA managed cards ? If so you can consolidate these into one card as they can move the limits immediately from one to the other. I.e alliance and leicester, Abbey, charity card etc There is a list that can be found here but at present being a bit lazy to find it :S But if you have cards already you will know if they are managed by MBNA.

Apart from that you can apply and see what limit they give you. Also state on the application what balance you are looking to transfer on the form or eform, whichever way you apply.

If the limit that you are given is not high enough you CAN call the credit team up and discuss this with them as its known for an application to be decisioned by a rep that has a lower lending authority than others just to approve the app and give a lower limit. Its not 100% true that limit will be increased but you can try and it will not do any harm in asking.

Thats about it really

Any further questions

As you summoned me from my beer

mrcow

The MBNA cards that we've had have offered credit limits of about 25% of gross salary (both Virgin and Platinum Plus).

Phoenix79_2

A question for Dazed:

I have an MBNA Platinum plus card which is £3 in credit and has an available spend of £7000. I want to use it to clear my loan but my loan is £11500. I guess they won't up my limit by that much but what if i was to apply for a Virgin card? Do you reckon that having another MBNA card with no balance on would scupper my chances? Or would the fact that i managed that one correctly (cleared over £4k off it in a year) would stand me in good stead?

Cheers

dazed

Phoenix79 wrote:

A question for Dazed:

I have an MBNA Platinum plus card which is £3 in credit and has an available spend of £7000. I want to use it to clear my loan but my loan is £11500. I guess they won't up my limit by that much but what if i was to apply for a Virgin card? Do you reckon that having another MBNA card with no balance on would scupper my chances? Or would the fact that i managed that one correctly (cleared over £4k off it in a year) would stand me in good stead?

Cheers

Well you can either apply for the virgin card and see what happens, I say this as it is down to the credit analyst to see what the can or cannot do regarding another limit for a new card.

Options are:

If they approve a card for you with a 4500 limit then you can move the 7000 limit from your plat plus card to your new card obviously.

They may just give you a new card with a 7000 limit and close your other card down.

You can call up and get a credit limit increase request done on your existing card to see if they can up it to 11500. If you call 0800 7831116 mon-fri 8-7 sat 9-1 they will be able to put in the request and get an immediate response and also carry out the BT and offer you a new promotional rate of interest. This could be 0% depending on who you speak to. Hint: This number is the retentions team or customer loyalty. If they increase the limit to 11500 and you cannot get 0% mention that you would look to close the account and reopen a new one.

The rep will rather get a BT than have a closure

I normally use the last option as I normally get good rates. Not because they know me because I am nice to them. Not a git like some people

HTH

merch

Thanks for your insights dazed. Much appreciated! :beer:

dazed

merch wrote:

Thanks for your insights dazed. Much appreciated! :beer:

anytime Have a good weekend.

researcher

dazed wrote:

How did I get involved in this

imo Virgin tends to get the 'bigger' limits but it is all down to your credit history and also the 'exposure' (the amount of available credit you have elsewhere, not trying to teach you to suck eggs of course )

Each application is looked at by a person not a machine that cracks figures and spits out the result at the end.

Also do you have any other MBNA managed cards ? If so you can consolidate these into one card as they can move the limits immediately from one to the other. I.e alliance and leicester, Abbey, charity card etc There is a list that can be found here but at present being a bit lazy to find it :S But if you have cards already you will know if they are managed by MBNA.

Apart from that you can apply and see what limit they give you. Also state on the application what balance you are looking to transfer on the form or eform, whichever way you apply.

If the limit that you are given is not high enough you CAN call the credit team up and discuss this with them as its known for an application to be decisioned by a rep that has a lower lending authority than others just to approve the app and give a lower limit. Its not 100% true that limit will be increased but you can try and it will not do any harm in asking.

Thats about it really

Any further questions

As you summoned me from my beer

Another for question for you, and have this:beer: on me

I've a pretty high credit limit (£16.5K) on an MBNA card that hasn't been used for a year or so. I'm looking for a 0% BT of around 10K at the end of the year - what's the chances of me getting them to waiver the 2% BT fee - as for 5 months (which I guess is all they'd give me) it's not worthwhile. (I'm also guessing that they'll offer me another 0%, as in the past they always have) - and like you, I'm very nice to them on the phone because it's so much easier to get the best offers if you are!

dazed

Call them up and the will look to offer a new rate. You on a 0% deal and no balance at present ?

They will NOT waive the fee if its to a bank account but WILL look to do it if its to another card. Especially at month end when the targets are needed to be met

researcher

dazed wrote:

Call them up and the will look to offer a new rate. You on a 0% deal and no balance at present ?

They will NOT waive the fee if its to a bank account but WILL look to do it if its to another card. Especially at month end when the targets are needed to be met

Nothing on the MBNA card at all - I have a 0% deal with Capital One - 18 monther which ends at end of December , so I would want to BT from there - but in December aren't MBNA likely to have met their targets?