MBNA Credit Limits

bwlv1

Hi All,

Looking to use the MBNA super balance transfer to the tune of probably about £2500.

Have just phoned them to see if they can do a soft credit search or give me a rough guide of what my credit limit might be as i don't want to apply and not get the limit i want, but understandably they can't help with that so hopefully someone on here can who has experience with MBNA.

My circumstances are:
-On electoral roll
-Home owner
-£40,000 combined income
-1 existing credit card with another provider £350 balance, credit limit £1000 (was given 6k but reduced it myself to 1k)
-1 finance agreement £500 balance
-No missed payments, ccj's bankruptcy etc
-A few searches on credit history over last few months, mainly insurance companies

Should i get the credit limit i need? I know you cant say yes or no but any rough estimates, similiar circumstances or advice is much appreciated.

BugsyBrowne

To many credit searches can knock a credit limit down thousands in some cases.

They are a massive killer if there are to many within short period.

bwlv1

Thanks for the quick reply! The searches are all for insurance (car and home) i have not applied for any loans or credit and there are no searches of this type, will the insurance searches still count against me?

BugsyBrowne

benwolves wrote: »

Thanks for the quick reply! The searches are all for insurance (car and home) i have not applied for any loans or credit and there are no searches of this type, will the insurance searches still count against me?

Ignore my post then if its only car/home insurance then.

chris-j

Based on what you say, searches are probably irrelevant if they are insurance companies. You say £40k combined income but credit cards are interested in the individual, so if your share is £20k this will be better than if your share is £10k.
I guess since you are. Looking for £2.5k to transfer that your OH has some unlisted debt you want to transfer here.

bwlv1

Hi Chris my share is 28k if this helps, and no debts to be shifted to/from O/H. The balance transfer is purely for my own use.

chris-j

Well I would expect MBNA to be most likely to gjve you at least 2.5k.
They have traditionally had higher limits than most.

BugsyBrowne

Best way to see how you stand is to do a nationwide soft search credit card quote which will give you an APR and likely credit limit.

bwlv1

Thanks all, Just did the nationwide quote, £5000 was max credit limit, how do nationwide normally relate to MBNA in terms of credit limits?

cwal

I have an MBNA card myself and based on what you have given as your circumstances I think they will probably give you atleast 2.5k. You can always apply on line and then they normally give you your limit immediately.

bwlv1

Hmm, they told me on the phone that i would find out the credit limit via post near enough the same time as the card is due to arrive, which is one of the reasons i havnt applied yet :think: