whats should I do with this offer ?

notes

Hi All, your advice please.
Got the below from MBNA and can do a BT as per text below.
How can i best use this ? Any pitfalls ?
Email is genuinely from MBNA, not a scam.

QUOTE
For a limited time only, you can now transfer a balance* WITHOUT a fee being charged!

Complete a balance transfer before midnight on 7th December 2006** using our online banking service and the balance transfer handling fees will be waived.
UNQUOTE

Cheers all.

lynzpower

where are you paYING interest at the mo and how much?

If you have a loan or OD MBNA will take them

notes

Hi Lynzpower. See my sig.

I have LOB 4.9% amex 4800, and 0% MBNA 1800 which is ending soon.

Just wondering but if i transfer say 3000 to current account say, then i cant lose as long as i dont spend it, and pay back all payments etc. Can then decide what to do with it later. Although i cant really be bothered to get involved with STOOZING, but i dont want to miss this offer which i could use when i have looked into it.

I am hoping my xmas pay and bonus will pay off mbna completely over the next few weeks, but i would only then pay off the 0% first. All confusing for me and i only know a few pitfalls. Need some advice please .

Many thanks.

lynzpower

well you only have one debt you can move- the amex

Imelda

What are the T&C's? The asteriks usually mean there is some small print, how long is the period for and what is the interest rate after the promotional period?

notes

Imelda,

you hit the nail on the head i think. It doesnt mention any "promotional rate" and only mentions BT. So presume they wouldnt get me promotional rate.

WILL LEAVE IT ALONE !

For your info below t&C.

* You can not transfer a balance from another card issued by MBNA. Your promotional rate, should there be one on your account, will no longer apply from the beginning of any statement period during which you breach your terms and conditions. If you settle other cards or loans your monthly payment may be lower. Charges may be incurred for early settlement of other loans. When you pay us, we will put your payments towards your balances with the lowest rates first.

**You will be charged a handling fee for balance transfers or money transfers, unless we have told you otherwise, of up to 3% of the transaction (minimum up to £3) for any balance transfer completed after this date.

This credit card is issued by MBNA Europe Bank Limited, Registered Office: Stansfield House, Chester Business Park , Chester CH4 9QQ. Registered in England number 2783251. We will monitor or record some phone calls. MBNA is authorised and regulated by the Financial Services Authority.