0% balance transfer question!

MrSilk

Just wanting some feedback from you all for my partner, who currently has a Capital One Classic card, which has been held for around 5 months.

He'd be looking to get a 0% card to transfer the balance (£500! - Long story)... however do you think this would be possible?

He's looking at the MBNA 0% 29 Month deal, however he's got a very limited credit history.

Mobile phone contract, never paid late had this for 4 years. No CCJ's or defaults and has always paid minimum payment on Capital One card. Doesn't have overdraft or any other CC, has held bank account with HSBC for around 8 years, but does go overdrawn (due to their rubbish available balance/current balance not updating quick enough).

Would the MBNA be possible?, if not, anyone have any suggestions?

Thanks!

moshoodo1

you can try MBNA eligibility checker here:

https://apply.mbna.co.uk/UKNeoCCapp/entry?sc=1UCMMBNIMB0031D&mc=UCMMBN003LJ


You have nothing to lose as it is a soft search

YorkshireBoy

What's the limit on the Capital One card?


With only 5 months CC history, a bank account incurring charges and reporting unauthorised O/D use, a raft of minimum payment markers*, and high possible credit utilisation (depending on your answer to the above question), I'd say his chances are slim with a prime card. However, what's he got to lose by making a speculative application or two?


And if he's blaming HSBC for his account abuse, ie "their rubbish available balance/current balance not updating quick enough", then he's kidding himself and you! He needs to assume once he's entered his PIN, placed an online order, or signed a cheque that the money leaves his account straight away, and not to rely on an ATM or online balance. Better control on his part is the answer to his problems, not seeking to blame someone/something else.




* Paying even just £1 more than the minimum removes this marker. Tell him to do it!

MrSilk

YorkshireBoy wrote: »

What's the limit on the Capital One card?


With only 5 months CC history, a bank account incurring charges and reporting unauthorised O/D use, a raft of minimum payment markers*, and high possible credit utilisation (depending on your answer to the above question), I'd say his chances are slim with a prime card. However, what's he got to lose by making a speculative application or two?


And if he's blaming HSBC for his account abuse, ie "their rubbish available balance/current balance not updating quick enough", then he's kidding himself and you! He needs to assume once he's entered his PIN, placed an online order, or signed a cheque that the money leaves his account straight away, and not to rely on an ATM or online balance. Better control on his part is the answer to his problems, not seeking to blame someone/something else.




* Paying even just £1 more than the minimum removes this marker. Tell him to do it!

Limit is £500!, and you know what; this is what I keep telling him!, I'm just trying to help him but alas.. He won't listen and continues to blame HSBC! :rotfl:

Yes I'll tell him re: pay more than minimum, so that it removes the minimum payment marker

I'll get him to do the MSE eligibility checker and see what results he gets, I do know he opened a Nationwide current account, and they wouldn't give him £100 overdraft!... So I think we already know the answer to my above Q!

I have 1 CCJ and 2 defaults and they still gave me OD, albeit I have been with them since 2009, good ole' Cashcard days

Thanks YB! :T