MBNA put up for sale

Mids_Costcutter

Would MBNA being put up for sale have affected their lending criteria just recently in any way? I had 2 applications for MBNA credit cards declined on the same day this week. Of course there could be other reasons but have always had successful applications with them in the past, and like others on this thread obtained some good 0% offers.

dazza.mk

Mids_Costcutter wrote: »

Would MBNA being put up for sale have affected their lending criteria just recently in any way? I had 2 applications for MBNA credit cards declined on the same day this week. Of course there could be other reasons but have always had successful applications with them in the past, and like others on this thread obtained some good 0% offers.

I would doubt it, whilst they are trying to sell the business it should be business as usual. Its only at the point they actually sell it that things may change (if there is a buyer such as Barclaycard in the case of Egg where they are not actually buying the brand name). Or if the 'doomsday' scenario that some papers talk about where they would wind down the business (and then sell the loan book at a discount).

I've personally actually just been approved for a card (having been rejected previously).

Mids_Costcutter

dazza.mk wrote: »

I've personally actually just been approved for a card (having been rejected previously).

How long did you wait before applying again?

datostar

Well, changing again!
My MBNA Platinum Card began life as Chase Manhattan, then Girobank, then Alliance & Leicester, then MBNA, now to become something else. They should call it the Chameleon Card.

dazza.mk

Mids_Costcutter wrote: »

How long did you wait before applying again?

It was quite a little while ago.

Roger1

datostar wrote: »

Well, changing again!
My MBNA Platinum Card began life as Chase Manhattan, then Girobank, then Alliance & Leicester, then MBNA, now to become something else. They should call it the Chameleon Card.

:rotfl:

Which of these gave you best service? Or were they much of a muchness?

Rupert_Bear

I read that the possible contenders for MBNA could be Barclays, Virgin Money, an Australian Bank or could even be a private equity concern. I will be happy provided it is not Opus.

pb3

Rupert_Bear wrote: »

I read that the possible contenders for MBNA could be Barclays, Virgin Money, an Australian Bank or could even be a private equity concern. I will be happy provided it is not Opus.

I'm becoming increasingly worried by the consolidation of credit card companies.

Previously my cards were spread across 8 or more different credit card companies, now over the years has shrunk down to 3 or 4.

My worry is that if these companies start "pruning" accounts then I may lose a significant number of my cards

eschaton

Will be a loss - good deals and free money.

Rupert_Bear

pb3 wrote: »

I'm becoming increasingly worried by the consolidation of credit card companies.

Previously my cards were spread across 8 or more different credit card companies, now over the years has shrunk down to 3 or 4.

My worry is that if these companies start "pruning" accounts then I may lose a significant number of my cards

I have now 3 Barclaycards. I originally was issued with their Plat visa and Plat mastercard. Then I was issued another when they bought out the Morgan Stanley credit card operation.

Also I have an Egg money card and this as you are no doubt aware is in the process of being transferred to Barclaycard. So by that happening it will limit my options to transfer balances even more.

I get loads of brilliant offers from BC but they will be no good if I cannot transfer a balance because BC have cornered the credit card market.

So on reflection out of the contenders I hope it is not now BC and only because of the BT benefits.