Applying to the same company for a balance transfer

Adoccoda

Hello...first time poster here.:)

Currently looking to transfer a large balance from an MBNA CC as the interest free period will end in April.

I've just used the eligibility checker MSE and the top cards which I would be accepted 100% for were MBNA .

My question would be, do companies allow you to swap debts from one of their cards to another? Or must I transfer this to another business?

Any opinion on this is appreciated as I don't want to affect my credit by applying for a card I have no chance of getting because I'm already a customer.

YorkshireBoy

Adoccoda wrote: »

Currently looking to transfer a large balance from an MBNA CC as the interest free period will end in April.

Isn't 8 months a bit early to be looking?

I've just used the eligibility checker MSE and the top cards which I would be accepted 100% for were MBNA .

Acceptance and a sufficient limit are quite different things. Any limit and debt on the existing card will be taken into account when/if granting a second card and setting a limit.

My question would be, do companies allow you to swap debts from one of their cards to another?

Not directly. You'd have to make use of the MBNA 'money transfer' feature to shift existing debt onto a new 0% product with them.

Adoccoda

I am in the middle of re arranging finances to buy a new car so I am planning ahead (not looking to actually move the deby atm) but as I can't see circumstances changing that much between then and now I wanted to see what my choices were.

So are you saying that I could go onto another 0% deal with them but unlikely to get the same credit limit?

YorkshireBoy

Adoccoda wrote: »

I am in the middle of re arranging finances to buy a new car so I am planning ahead (not looking to actually move the deby atm) but as I can't see circumstances changing that much between then and now I wanted to see what my choices were.

A lot can/will happen in 8 months, so don't place too much reliance on today's results.

So are you saying that I could go onto another 0% deal with them but unlikely to get the same credit limit?

No. How could I? All I'm saying is the limit and debt will be taken into account. They'll have a maximum limit they're prepared to extend you.

Adoccoda

All of the above I am talking theoretically, please do not think that I am using you as some sort of FA. I was only looking for advice.

Thanks for what you have contributed.

MallyGirl

YorkshireBoy wrote: »

Not directly. You'd have to make use of the MBNA 'money transfer' feature to shift existing debt onto a new 0% product with them.

you can't BT within financial group - what YB was suggesting was getting a 0% Money Transfer card from MBNA, transferring the credit amount (well 90/90% of it) amount to your bank account and using that to pay off the balance on the existing MBNA card. Fees for MT are usually higher, and 0% periods shorter, than balance transfer cards so this would not be my first choice of method.