MBNA balance transfer

Consumerist

If I remember correctly, MBNA has a "Your Offers" page when logged in. Is the offer still listed there?

Feral_Moon

Consumerist wrote: »

If I remember correctly, MBNA has a "Your Offers" page when logged in. Is the offer still listed there?

No, that's also disappeared. There's just a box with some PC antivirus offer. But it's still listed in the rates section as a currently available rate on all BT transferred before 31 Dec 2015.

What annoys me most is that I moved a 0% interest balance which didn't expire until next May, thus resulting in extra BT fees, so I could maximise use of the deal to transfer a balance from another card which is currently on a 6.9% LOB deal. The savings made long term would have covered the cost of fees.

Consumerist

Looking on the bright side, it's the start of a new month and MBNA may be cooking up its next bunch of offers ready to update customers' accounts overnight. Try again tomorrow, as suggested earlier. Hope it re-appears for you.

Vikki1975

Hi,

Is there any news Cupcake Girl on how payments were allocated?
I've been reading through and watching for an update before I go ahead and use the offer
Thanks

planteria

Consumerist wrote: »

As said earlier, MBNA will not normally allow you to transfer a balance between its own cards...

but this is an offer for money transfers, presumably to a current account, that Cupcake Girl could then use to pay off chunks of the card. i don't see a reason why this deal cannot be exploited..:lovethoug

Cupcake_Girl

Update as my monthly statement has just been generated.

I managed to do three money transfers to my current account during November. I transferred £4280, made a payment to MBNA of £4000. Second transfer was for £4000, I then made a payment to MBNA of £3500. Third transfer was for £3000 and the last payment to MBNA was for £3000. In the meantime a direct debit payment of around £350 was also made.

On my statement this morning, I see the two balances at the higher interest rates have gone and there is now a balance of £11,300 at the new 4.9% life of balance rate. (I still have over £700 in my current account that came from MBNA waiting to pay back).

I also have an existing 5.9% life of balance amount on my MBNA account that I will now try to move to the lower 4.9% rate before the end of January but happily all seems to have gone according to plan.

Thanks again to all who offered opinions and advice, very much appreciated.

Edit: on my previous statement, the interest charged was £170, on this statement it was £120 and the estimate for next month is £83 so around £90 extra to go towards paying the balance down!

planteria

great news... getting the high rates down was the key. if you knock 1% down further on part of the balance then it's a bonus:T

Vikki1975

Thanks for the update
I hope my offer is still showing so I can do and do the same 😊

Consumerist

Well done Cupcake Girl for a well conceived and executed plan. :T

Fortune favours the brave. :beer: