MBNA 2 cards/credit Reallocation

[Deleted User]

Hi,

I have 1 MBNA credit card which is coming to the end of its 0% period. I would like to shift the balance remaining on this card by balance transfer to my Santander credit card.

I would then like to open a 2nd MBNA credit card and re allocate the credit limit from the exisiting MBNA to the new MBNA card. Then I would close the existing MBNA which is due to run out of 0% period.

Is this all Possible in theory ? (assuming I pass the checks for the 2nd MBNA credit card.)

The new card has around 24 month 0% on purchases and balance transfers, do I have to use the card within a certain amount of time after opening to get the 0% period deal or could I wait 6 months after opening the card before using it for a purchase and still receive the 0% period deal?

Thanks,
Dave

Doctor_Duke

I have never tried switching MBNA card limits but I have had two or three on the go before now. Once, they reallocated my card limits when I applied for a third card by reducing the limits on my existing cards. Presumably to ensure my overall lending met the overall credit limit they were prepared to give me. I have always found with MBNA best to close one of your accounts and reapply for a new MBNA card. Use their eligibility check to do this. I have never had a problem getting a new card with MBNA with good limits but then we go back a long way....

[Deleted User]

Ok, bringing the thread back to my original post please.

Marchitiello

In my experience when you apply for a new MBNA having not used the previous one for spending /recent balance transfer, they may actually allocate most of your free credit limit from the old card to the new card. After the second card is open, you can call them (do not select "close account" as it will go to an automatic closure and you won't be able to make the limit transfer) and ask for the whole credit limit to be transferred across and close the old account.

With regards to your second question, normally the promotional period apply to purchases done within a set time frame (e.g. Purchases done in the first six months of account opening). Read the T&C

Superscrooge

dave8989 wrote: »

Hi,

I have 1 MBNA credit card which is coming to the end of its 0% period. I would like to shift the balance remaining on this card by balance transfer to my Santander credit card.

I would then like to open a 2nd MBNA credit card and re allocate the credit limit from the exisiting MBNA to the new MBNA card. Then I would close the existing MBNA which is due to run out of 0% period.

Is this all Possible in theory ? (assuming I pass the checks for the 2nd MBNA credit card.)

The new card has around 24 month 0% on purchases and balance transfers, do I have to use the card within a certain amount of time after opening to get the 0% period deal or could I wait 6 months after opening the card before using it for a purchase and still receive the 0% period deal?

Thanks,
Dave

Normally you have to complete the BT within 90 days. But once you have done this there is no requirement to ever make a purchase on the card. I've had numerous BT cards that I have never used for purchases.

If you have two CC's from the same provider. There is no guarantee that a CC provider will automatically agree to transfer your credit limit from one card to another. Some will, Some won't.

[Deleted User]

Thanks for replies, I've successfully got a 2nd MBNA card and they said it would be possible to re allocate the credit limit and close the original account. I have to balance transfer within 60 days to get the 0% deal and any transfer made after the 60 day period won't be included in the 0% deal. I've opted for a balance transfer card.