MBNA Card, is it possible to ask to transfer in Credit balance to a current A/C ?

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  • YorkshireBoy
    YorkshireBoy Posts: 31,541
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    faddy wrote: »
    ...I'd imagine a money transfer at standard rate might be interpreted in the same way by a potential lender.
    You imagine incorrectly. Money transfers are not reported as cash advances by MBNA.
  • faddy
    faddy Posts: 508 Forumite
    You imagine incorrectly. Money transfers are not reported as cash advances by MBNA.

    I didn't imagine that it would be reported as a cash advance, rather that some potential lenders might choose to take the same dim view of (non-promotional rate) money transfers as they reportedly do of cash advances. If it's at the same rate as a cash advance might it not signal the same financial "desperation"?
  • YorkshireBoy
    YorkshireBoy Posts: 31,541
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    faddy wrote: »
    I didn't imagine that it would be reported as a cash advance, rather that some potential lenders might choose to take the same dim view of (non-promotional rate) money transfers as they reportedly do of cash advances. If it's at the same rate as a cash advance might it not signal the same financial "desperation"?
    OK I'll try again.

    How would any other "potential lender" know how the debt was created? All they see from a credit search is a debt...the same debt they'd see if you bought something, ie made a purchase.

    The only possible difference is that there would be no 'promotional rate marker' on your file if you took, for example, a 6.5% APR MBNA money transfer, as opposed to a 0% money transfer.

    It seems you have never seen a copy of your credit report?
  • faddy
    faddy Posts: 508 Forumite
    OK I'll try again.

    How would any other "potential lender" know how the debt was created? All they see from a credit search is a debt...the same debt they'd see if you bought something, ie made a purchase.

    The only possible difference is that there would be no 'promotional rate marker' on your file if you took, for example, a 6.5% APR MBNA money transfer, as opposed to a 0% money transfer.

    It seems you have never seen a copy of your credit report?

    Point taken, but from http://www.moneysavingexpert.com/loans/credit-rating-credit-score :

    "Some, including Barclaycard, Capital One, GE Money and MBNA, share the amount you repay too (if it's the minimum, or if you repay in full) and whether you've a promotional deal (plus if you use credit card cash advances, which you NEVER EVER should)."

    So some apparently report cash advances. So do we know that none report money transfers, which are after all just an alternative means of drawing cash from a CC (albeit sometimes at promotional rates)?
  • caveman38
    caveman38 Posts: 1,289
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    Would this MBNA CC serve as a "Mule" card if your happy to pay 0.5% transfer fee https://www.mbna.co.uk/compare-credit-cards/balance-transfer-credit-cards/mbna-five/
    I can't get to the T&C to delve deeper.
    Anyone use it for that purpose.
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