MBNA balance transfer

R34GTT

This plan will work fine, I did something similar a few years ago with MBNA.

There is also the added benefit here of no transfer fee, so even if for some weird reason the payments back to the credit card aren't allocated to the higher rate balances the OP won't be any worse off.

hylian_elf

Thank you for updates Cupcake Girl, and thank you for comments on my post too.

I did read the T&Cs myself and like CCGirl, its the "can be withdrawn at any time" that is the only concerning bit. Agree, borrowing elsewhere is risky and if I can rinse and repeat as suggested then I think I'll do that. At the very least, I will have shifted a third of my debt to a far lower rate for the lifetime of the balance.

Look forward to more updates! I'm gonna do my first transfer now...

Consumerist

hylian_elf wrote: »

. . . I did read the T&Cs myself and like CCGirl, its the "can be withdrawn at any time" that is the only concerning bit. . .

. . . But, since CCGirl has already been advised that the offer is open until Jan 2016, it seems to me inconceivable it could be withdrawn before then - unless the Ts&Cs are broken. Nothing in the plan, however, seems to be contravening the terms. Just don't exceed your credit limit or transfer limit, don't miss payments or pay late and then it seems, to me, to be a done deal.

Edit
Try not to go bankrupt. :eek: .

JimmyTheWig

Consumerist wrote: »

. . . But, since CCGirl has already been advised that the offer is open until Jan 2016, it seems to me inconceivable it could be withdrawn before then - unless the Ts&Cs are broken.

They could realise what a crazily good offer this is and that they're going to lose out on it.
Not likely, I agree, but I still wouldn't bet a loan of £5k to a colleague on it not happening.

Consumerist

JimmyTheWig wrote: »

. . . but I still wouldn't bet a loan of £5k to a colleague on it not happening.

No argument from me on that score.

Borrowing from friends/colleagues is definitely not a good idea, in any event, if you value their friendship.

Feral_Moon

Have you guys still got this BT offer available to you? I've just logged into my account to do a couple of BTs at the 4.9% deal only to find the option to BT anything at all seems to have disappeared!

There's usually a link on the summary page but it's gone. The rate offer is still available on the rates page but I can't see where to actually do the BT and customer service is closed until 7am so I can't call them yet.

I'll be gutted if they've suddenly removed the offer as I've spent the last week or two juggling accounts to clear an existing 0% balance on the card so it doesn't get stuck behind the new one once expired. I'm now wondering if having a zero balance has triggered closure of the offer

Ben8282

My advice to you would be not to worry, do nothing, wait 24 hours then log back on and see what you find.
A while ago something similar happened to me whereby the term of a longstanding existing customer offer suddenly dropped from something I was pleased with to something almost insulting for 24 hours then went back to the same as it had been before (not MBNA).
Its possible
- offers are reviewed monthly and tonight you are between offers
- the offer has for some reason been withdrawn but assuming the conduct of your account has been satisfactory it is possible that the current 0 balance will result in a new and perhaps better offer being made in the not too distant future

Feral_Moon

Well, it looks as though the offer has now been withdrawn from my account without any notice despite that it's still showing as available on the rates page. Angry isn't the word right now :mad:

MABLE

Feral_Moon wrote: »

Well, it looks as though the offer has now been withdrawn from my account without any notice despite that it's still showing as available on the rates page. Angry isn't the word right now :mad:

I am with MBNA and have found in the past if no offers are available to phone them and sometimes they will offer you something but has to be completed that day.

Feral_Moon

MABLE wrote: »

I am with MBNA and have found in the past if no offers are available to phone them and sometimes they will offer you something but has to be completed that day.

I did phone this morning. The BT function has been removed from my account despite the promotional rate still being visible. The operator couldn't explain it and said she couldn't do anything either and no other offers currently available.

I can only assume it's because I cleared the balance so I could take full advantage of the offer as it was certainly available last week