MBNA - Customer requesting a promotional offer

supersaver2

Afternoon All,

Just a quick question. Have an MBNA card which I've had years, always been a good customer, never missed a payment. I often have promotional rates of interest free on balance transfers for 12 months on my card. Has anybody ever asked them for a promotional rate? What I really want is a balance transfer offer with a low interest rate until the balance is paid. I have had this offer before but not recently.

Wondered if they are flexible if you ring and request a different offer?

Thanks.

MABLE

supersaver2 wrote: »

Afternoon All,

Just a quick question. Have an MBNA card which I've had years, always been a good customer, never missed a payment. I often have promotional rates of interest free on balance transfers for 12 months on my card. Has anybody ever asked them for a promotional rate? What I really want is a balance transfer offer with a low interest rate until the balance is paid. I have had this offer before but not recently.

Wondered if they are flexible if you ring and request a different offer?

Thanks.

Ask them for a different card with the criteria you require. I did that and they gave me 21 months interest free on purchases and BT rate of 1.5 for the same period.

They just transferred my credit limit to the new card.

supersaver2

MABLE wrote: »

Ask them for a different card with the criteria you require. I did that and they gave me 21 months interest free on purchases and BT rate of 1.5 for the same period.

They just transferred my credit limit to the new card.

Thank you, had no idea they would do this as when I looked at the offers on other MBNA cards the bumf always said you couldn't transfer balances from an existing MBNA card. Always worth asking, hoping the fact that I've been a good customer for years will work in my favour.

Feral_Moon

supersaver2 wrote: »

Thank you, had no idea they would do this as when I looked at the offers on other MBNA cards the bumf always said you couldn't transfer balances from an existing MBNA card. Always worth asking, hoping the fact that I've been a good customer for years will work in my favour.

Transferring credit limits is not the same as transferring balances.

Interesting though as I also have a redundant MBNA card sat waiting for a new promotional offer. Maybe I'll check out what new cards are offering and give them a call.

supersaver2

Feral_Moon wrote: »

Transferring credit limits is not the same as transferring balances.

Interesting though as I also have a redundant MBNA card sat waiting for a new promotional offer. Maybe I'll check out what new cards are offering and give them a call.

Ahh okay, what happens to the balance that I have on my MBNA card currently then? It's on a promotional rate with fixed interest until it's paid off, does that get transferred to the card with the same promotional rate staying the same? I have around £800 on this offer with a credit limit on the card of £6500.

Thanks,

Feral_Moon

supersaver2 wrote: »

Ahh okay, what happens to the balance that I have on my MBNA card currently then? It's on a promotional rate with fixed interest until it's paid off, does that get transferred to the card with the same promotional rate staying the same? I have around £800 on this offer with a credit limit on the card of £6500.

Thanks,

I was under the impression there was no balance on the card, hence why you were looking for a new promotion. You'd have to clear that balance before you could close the card.

supersaver2

Feral_Moon wrote: »

I was under the impression there was no balance on the card, hence why you were looking for a new promotion. You'd have to clear that balance before you could close the card.

Yes I have the £800 outstanding. I often get promotional rates, near enough every month, but not the promotional rate I was after! Hence why I wondered if you asked them if they would give me a different rate. Some months I get interest free balance transfer, some months interest free cash transfer and occasionally the fixed interest until the balance is paid and this is the offer I want ready for a transfer in May. Suppose I can only ask them.

MABLE

But OP could retain his present card and still have a new card by them and just get them to split the limits. With me they allowed me to retain my American express card and split the limits with the new card with all the goodies.

If the OP were to do as I advise he would no doubt be offered money transfer on the new card at about 4 percent fee. The OP could then do a transfer to his bank account for the amount owing on the existing card and then would be in a position to clear the debt on the existing card.

Feral_Moon

MABLE wrote: »

But OP could retain his present card and still have a new card by them and just get them to split the limits. With me they allowed me to retain my American express card and split the limits with the new card with all the goodies.

If the OP were to do as I advise he would no doubt be offered money transfer on the new card at about 4 percent fee. The OP could then do a transfer to his bank account for the amount owing on the existing card and then would be in a position to clear the debt on the existing card.

But the OP wants a low rate LOB deal and MBNA periodically offer 4.9% LOB rates. I was last offered one in December but nothing since. They seem to be holding back on their offers.

The problem he faces is that the current debt (which I assume is on 0%) will become trapped behind a new LOB transfer and once it's offer expires will start to attract the usual interest rate, so whatever he does, he will need to clear that balance off first.

MABLE

Feral_Moon wrote: »

But the OP wants a low rate LOB deal and MBNA periodically offer 4.9% LOB rates. I was last offered one in December but nothing since. They seem to be holding back on their offers.

The problem he faces is that the current debt (which I assume is on 0%) will become trapped behind a new LOB transfer and once it's offer expires will start to attract the usual interest rate, so whatever he does, he will need to clear that balance off first.

With my new card they offer 1.5 percent fee for 21 months for balance transfers or 3.5 percent into my bank account.

With the original card they are offering me 3.5 percent on balance transfers and 4 percent on transfer to bank account.

In my own experience they regularly offer promotional rates for me every month. I assume they must regard me as a good risk and offers are priced accordingly to the risk involved.

Feral_Moon

MABLE wrote: »

With my new card they offer 1.5 percent fee for 21 months for balance transfers or 3.5 percent into my bank account.

With the original card they are offering me 3.5 percent on balance transfers and 4 percent on transfer to bank account.

In my own experience they regularly offer promotional rates for me every month. I assume they must regard me as a good risk and offers are priced accordingly to the risk involved.

Yes, they regularly offer balance transfers and money transfers. As soon as one ends, another is on the table. But the OP doesn't want those offers, he wants a low rate LOB offer, hence asking whether it's worth calling them to ask for a specific offer. As I said earlier, I've not seen a LOB rate offered since December.