Cancelling 0% cash advance on Credit Card

cisbrh

Hello,
On Thursday I've taken the offer over the phone from MBNA to get £3000 @ 0% on cash advance with a 4% transfer fee.
I've realised I don't actual need the money, do you know if I can retract from the loan without penalties like a normal loan?
Thanks in advance
Benjamin

Bongedone

Call them?

cisbrh

Bongedone wrote: »

Call them?

I would like to know before I call them, to make sure they don't fob me of.

fluffnutter

Was this arranged over the phone? If so, then there should be a mandatory cooling off period. Depending on what type of product you've bought this might typically be 7 or 14 working days. You're certainly within both of these periods, so contact them (by mail, email or fax) and tell them you don't want it. If they try to charge you, mention the mandatory cooling-off period for contracts negotiated over the phone.

cisbrh

That's what I thought. Thanks.