Transferring O/D and Credit Card to MBNA

angelavdavis

Having found myself now without much of an income, I am considering transferring my overdraft to my MBNA card who are currently offering 0% to April next year for cash transfers and credit card transfers.

The percentage charges are 4% for cash transfer and 2.9% for credit card transfers.

I won't be able to clear the approx £6400 by April next year, but will have about £4000 left on it, so will be looking to move this to another 0% offer elsewhere.

The query I have is that, once I have moved both to MBNA, when I then move it on to another card, will the recipient card company know that some of it was a cash transfer or will it simply move as a credit card transfer? Anyone done this before?

YorkshireBoy

angelavdavis wrote: »

The query I have is that, once I have moved both to MBNA, when I then move it on to another card, will the recipient card company know that some of it was a cash transfer or will it simply move as a credit card transfer?

Long question, short answer...no.

ironlady2022

When you say not much of an income, what do you mean? £6400 is no mean feat and most people would struggle to get such a high limit on a credit card unless they had a large income.

YorkshireBoy

mayling03 wrote: »

When you say not much of an income, what do you mean? £6400 is no mean feat and most people would struggle to get such a high limit on a credit card unless they had a large income.

OP probably had a better income (at some point in the past when she took the card out).

angelavdavis

Yes my household income is still OK - my personal income isn't. I am able to make higher than minimum limit payments I just can't guarantee paying it off until I am earning again.

My cc limit is very high and having got rid of a couple of credit cards with high limits which had zero balance, my credit rating is still fairly safe.

I am simply battening down the hatches until things pick up a little on the income front so I minimise my excess costs, or in this case, bank charges (I actually want rid of my bank account that charges for the arranged O/D).

Thanks for your concern Mayling03 but I am OK on that front.