Unoffical Existing Customer Balance Transfers

Paul_Herring

Rang up MBNA today to cancel a (box won't let me enter pound sign)12,000 card that I had. No outstanding balance since about July last year, had the card since 1997

Told them I had a better deal from A.N.Other card offering 0% for 9 months on BT (Current advertised rate is about 3-4%) - they transferred me to 'customer retention' and they, in the end, offered me 7,000 0% over 6 months - 7K to be transferred to my bank, *without charge* (she offered to negate the 2% transfer charge they normally apply)

I'm now regretting the fact that I only said I was only transferring 7K to the 'new' card instead of the full 12...

Lesson learnt I suppose.

johnllew

I'm now regretting the fact that I only said I was only transferring 7K to the 'new' card instead of the full 12...

Go online and check your account. You will probably find that you will have 0% available for the rest of your credit limit (they will let you go up to 98% of it). Rumour has it there is no 2% fee for online BTs but don't quote me. Try it, they say they will tell you in advance if a fee is to be charged.

Paul_Herring

Go online and check your account. You will probably find that you will have 0% available for the rest of your credit limit (they will let you go up to 98% of it). Rumour has it there is no 2% fee for online BTs but don't quote me. Try it, they say they will tell you in advance if a fee is to be charged.

Indeed - just had a look! Just waiting for the confirmation letter/transfer they said they'd do first before I do anything however.

[...]Rumour has it there is no 2% fee for online BTs but don't quote me.

Re: MIN REPAYMENT MBNA????(4) seems fairly certain there isn't.

System

MBNA offered me 0% for 7 months as an existing customer as long as I BT £10k+ to them.

FieryBlondeScot

ochhh i was goin great guns in the money shufflin scheme of things until i called egg and subtley enquired as to whether they could do anything for me like reduce the rate on my egg card, they said no no no no and did not even seem to mind when i blatantly said i would have to take my balance elsewhere!!

course the only trouble with theis is i seem to be ok to get approved for loans and the like but credit cards i have tried to get a couple now and it is fast becoming the thorn in my side!!! any ideas?? :-[ ???

allthatmularky

I wouldn't give up on Egg - Fiery - see my earlier post. I explained that they would lose all my debt and I would transfer to a 0% card - just said you'll lose all £600 a year in interest can you not offer me a deal - then spoke to a supervisor and got 5.9% for six months. I think persistence is the key with Egg. Let's know how you get on.
 Since then, I got my act together and got a 0% deal elsewhere - I realise that this is not much use to you Fiery if you're having trouble getting cards. Have a look at your credit history and find the root of the problem.

laminki

I have an MBNA card which is still in the 0% period.  I have had it maxed since day #1 and have never spent on it.  I'm expecting to transfer the balance off it in July when the 0% period is up, then close it.  Do you think they could be persuaded to give me the 1.9% deal, too, or did you run your card differently?

1) Phone them to arrange to pay off your balance.
(I know it's easy to pay off your balance, but this gives THEM the opportunity to "make yoy an offer".

2) Pay off your balance if they don't make you an offer

3) Increase your credit limit.

4) Phone them up. You want to arrange a balance transfer but couldn't POSSIBLY do it at 13% APR. Invite them to "make you an offer". Listen to the offer. Then haggle using every (dirty) trick in the book.

Edinburghlass_2

I just cancelled a card on MBNA and was offered nothing, in fact the kind lady on the phone wondered about cancelling the account at all as I had a debt of 1p on it since October 2002  ???  I offered to send a 1p in the post and at that she decided that she would be able to cancel the account without charge after she checked the interest due on my 1p.  

I had also recently cancelled a RBS Mastercard by writing and had a phone call just as I was going out one day offering me 7.9 on balance transfer and purchases for a year.  I did ask about 0% but didn't get it and as I was rushing I said okay just leave it at 7.9% meantime and I would think about it.

Today I rang them to say I had forgotten what I had been offered and what would they offer me on a BT.
6.9% for the lifetime of the BT was the answer, better than nothing and better than I was offered a month ago so I have transferred a balance from Tesco till I find a better deal.

System

mbna phoned me last month to make me an offer, I've had their card for 3 years or so and have never paid them a penny in interest. They asked if I had any outstanding balances or loans, I owed £3000 they said they give me 1.9% until oct 2004 I said it wasn't worth it to me, they then offerd me £5000 at 0.9% paid into my current a/c still not worth it, a word with the manager £9000 at 0% until november, OK. there'll be a capped handling fee of £35 um! I don't want to pay that
to the manager again, No £35 got to stay. I don't want it then. They stuck to there guns, I really thought they'd waiver the fee but not to be.

M_Thomson

mbna phoned me last month to make me an offer, I've had their card for 3 years or so and have never paid them a penny in interest. They asked if I had any outstanding balances or loans, I owed £3000 they said they give me 1.9% until oct 2004 I said it wasn't worth it to me, they then offerd me £5000 at 0.9% paid into my current a/c still not worth it, a word with the manager £9000 at 0% until november, OK. there'll be a capped handling fee of £35 um! I don't want to pay that
to the manager again, No £35 got to stay. I don't want it then. They stuck to there guns, I really thought they'd waiver the fee but not to be.

You should have taken it. Its a good deal even with the £35 fee.