Balance transfer; Barclaycard - MBNA

Mike12421

Hi everyone,

Hope everyone's new year is going well.

I'm trying my best to lower my debt so I applied for a 0% bslance transfer MBNA credit card in order to transfer my Barclaycard Visa debt of £8,500. I was successful however MBNA gave me a limit of £6,800.

My question is, can I transfer £6,800 worth of debt from Barclaycard to MBNA as 0% interest free and pay the remaining £1,700 on my Barclaycard as quickly as possible?

On a side note, I've just managed to get my car insurance down to; £325 fully comp! Wahu! A long way from £1600, ten years ago.

Regards,
Michael.

izools

Yes you can transfer any amount you want up to the amount you owe Barclaycard, and concentrate on paying the remaining balance off your Barclaycard as quickly as possible whilst maintaining the minimum payments on the MBNA card.

Mike12421

Hi,

Thanks for replying izools, much appreciated.

System

Just a small point... MBNA will allow you to transfer up to 95% of your credit limit, so in your case £6460.

Regards
UNDERGROUND

Mike12421

Thanks UNDERGROUND that's good to know!

thenudeone

A balance transfer is just like any other payment, as far as your existing card is concerned, so you can pay anything up to the current balance.

Mike12421

Thanks thenudeone.