Declined by MBNA - advice please!

revsi

Hi everyone

Used to be on here under a different username, but have come back under a new alias!

I currently have an overdraft on my Halifax current account which charges £1 for every day I use it, which at the moment is costing around £26-£28 per month. At the end of the month, I'm about £800 in debt and I would like to transfer this onto a 0% card.

I have a 0% Purchase Offer card with Halifax (with a £0 outstanding balance), but as far as I'm aware, this can't be used to pay off overdrafts. I have just tried to apply for the MBNA card that Martin mentions in his Super Balance Transfer article, but was declined. If I apply for the other card in that article, the Virgin card, am I likely to be declined from it, as it's managed by MBNA?

Thanks!

YorkshireBoy

revsi wrote: »

...at the moment is costing around £26-£28 per month.

Delaying some of your bills until later in the month (just before payday is ideal) may minimise the number of days you use the overdraft. Don't do it with interest bearing commitments though (such as mortgage, credit cards, etc)...just utilities etc.

Put all your day-to-day spend on the credit card and just pay the minimum until the 0% intro period ends.

If I apply for the other card in that article, the Virgin card, am I likely to be declined from it, as it's managed by MBNA?

Almost certainly! Try Egg or the Post Office cards...they also have SBT capability. Another option may be M&S and their Sterling travellers cheque loophole. But you really ought to take a look at your credit file first to see what other lenders are seeing when they search you.

sharpy2010

Vanquis may be your friend, but of course you'd start with a pretty small limit.

Good luck!

Pheebs67

revsi wrote: »

I currently have an overdraft on my Halifax current account which charges £1 for every day I use it, which at the moment is costing around £26-£28 per month. At the end of the month, I'm about £800 in debt and I would like to transfer this onto a 0% card.

Where do you do your 'spending' from? Is your Current Account balance going overdrawn because of purchases or just because Bills etc are paid from it?