MBNA/Virgin 0% Credit Cards

sar050680

Hi all, I'm looking for some advice, I have recently got my 0% CC from MBNA with a £1900 limit on the card. My reason for getting this card was to pay off my car loan which is £4400. As I have an obvious shortfall I was thinking of trying to get another and (I think) the only other one is the Virgin 0% CC.
Now MBNA (again I think) oversee Virgin and since you can only have one MBNA card at a time does that mean it's pointless me applying for a Virgin card?

Thanks for reading, Paul.

Fruit_and_Nut_Case

sar050680 wrote: »

you can only have one MBNA card at a time

I don't believe that this is true.

YorkshireBoy

sar050680 wrote: »

does that mean it's pointless me applying for a Virgin card?

I would think so.

Why not try the Post Office or M&S (via Sterling travellers cheques)?

Tixy

I think you usually only get 1 promo deal at a time, even if you hold more than one MBNA backed card.
Another option is the M&S card where you can get sterling travellers cheques and deposit them in your bank account (and then use it to pay off your loan).
See near the bottom of this page - http://www.stoozing.com/sbt.php

sar050680

Ah the M&S one looks interesting, I'm gonna have a read now.

YorkshireBoy

sar050680 wrote: »

Ah the M&S one looks interesting, I'm gonna have a read now.

A word of warning...be sure to check your bank will accept them before purchasing them!

sar050680

Thanks YB, as I read it I apply for M&S CC, then buy Pounds Sterling travelers cheques from M&S? Then, as long as Lloyds will accept them, I pay into my Bank and they can be used to pay for anything I assume?

YorkshireBoy

sar050680 wrote: »

Thanks YB, as I read it I apply for M&S CC, then buy Pounds Sterling travelers cheques from M&S? Then, as long as Lloyds will accept them, I pay into my Bank and they can be used to pay for anything I assume?

Your understanding is correct.

I've previously* used LTSB to bank my TCs, and once they even cleared £4K worth for cash same day.


* Last time was approx 2 years ago so check its still possible before going ahead. Suggested approach..."I have a business trip planned to Gibralter and will be buying Sterling TCs. If the trip falls through at the last minute would you encash them for me?"

sar050680

I have just had a read of this; https://forums.moneysavingexpert.com/discussion/3095070 and I think I'll apply tomorrow. Me on business trip, lol. I'll keep this updated. Thanks again YB.

thenudeone

It certainly was possible to have more than one mbna card at a time but they are much more nervous about giving credit than they used to be (I used to have £25k limit on 3 cards but now they think £11k is still too much, and I am earning more now that I did then!!) so don't hold your breath.

They used to make various promotional offers available on all the cards (sometimes at the same time) but I am out of favour and haven't been offered any since I complained to the Ombudsman about them!!

pottski

Most car finance companies wont allow you to pay off the finance on a credit card