MBNA Money transfer

Gollygumdrops

bsms1147 Hi yes I do have credit cards which I use every month and pay in full, on time. I also have direct debits which go out each month - never missed a payment. I've lived at current house for over 20 years and have always been on electoral roll.

Yorkshireboy Hi, currently most of the savings are in accounts under my wife's name (non-tax payer), also have ISAs and good deals with regular monthly savers (6%) and current accounts.

By doing sums it would have been a good opportunity to use the MBNA money transfer rather than go into savings!
Quite disillusioned in having a "clean" credit history!!

SeduLOUs

Gollygumdrops wrote: »

Quite disillusioned in having a "clean" credit history!!

You probably have an ideal history for something like getting a mortgage, but it's not so ideal for obtaining credit and loans unfortunately.

The 'credit score' has always been a myth and is a completely meaningless number. Every lender has it's own set of boxes that need to be ticked with the main aim of making money...

msallen

SeduLOUs wrote: »

You probably have an ideal history for something like getting a mortgage, but it's not so ideal for obtaining credit and loans unfortunately.

No, its also ideal for getting credit and loans. What its not ideal for is getting "loss leader" offers where the bank expects to make a profit after the intro offer has finished.

Siouxsie32

Can I just ask when you're using the cash for stoozing, what you say to the credit card people when they ask what you're using the money for? I received an offer and was planning to use it to pay off the remainder of my outstanding loan (with another company) over the next 6 months then stooze for the remaining 18 months. I was turned down because they won't do a cash transfer to pay off a loan. Just curious....

YorkshireBoy

Siouxsie32 wrote: »

Can I just ask when you're using the cash for stoozing, what you say to the credit card people when they ask what you're using the money for?

In nearly 10 years of stoozing I've never been asked what the money would be used for when taking MBNA money transfers.

I received an offer and was planning to use it to pay off the remainder of my outstanding loan (with another company) over the next 6 months then stooze for the remaining 18 months. I was turned down because they won't do a cash transfer to pay off a loan.

A 'money transfer' is a transfer of cash to a UK current account. If you're wanting to settle a loan you do it from your current account after the funds arrive.

Thrugelmir

Gollygumdrops wrote: »

Hi yes I do have credit cards which I use every month and pay in full, on time.

How many and what's the combined credit facility you have available? Requesting a £10k facility at the outset on a new card may have raised issues.

Siouxsie32

YorkshireBoy wrote: »

In nearly 10 years of stoozing I've never been asked what the money would be used for when taking MBNA money transfers.A 'money transfer' is a transfer of cash to a UK current account. If you're wanting to settle a loan you do it from your current account after the funds arrive.

Thanks for the reply YorkshireBoy. I received the letter offering a money transfer at 0% and have a £10k limit on the card but they turned me down because my answer to the "What are you intending to use the money for" question was not a reason they allow money transfers for.

Kendall80

Siouxsie32 wrote: »

Thanks for the reply YorkshireBoy. I received the letter offering a money transfer at 0% and have a £10k limit on the card but they turned me down because my answer to the "What are you intending to use the money for" question was not a reason they allow money transfers for.

Narcotics?

Presumably you didn't say you were going to stooze it?

Siouxsie32

Kendall80 wrote: »

Narcotics?

Presumably you didn't say you were going to stooze it?

I was a little thrown cos I didn't expect to be asked I was honest and said I was using it to pay off an existing loan. I guess I should have said I was upgrading my kitchen or something?

pauljoecoe

As mentioned above I just got a £11500 limit on this card. I asked for £10K to be transferred to my current account...for no particular purpose.

I have 3 0% purchase cards on the go, £80K in savings. £40K mortgage. No loans.

Don't seem to have a problem getting cards.