Confusing wording on MBNA all rounder card.

Rda89

Hi all,

I've got a twofold question really, firstly:

I'm about to pay off the remaining amount on my Virgin Credit card and close the account due to the 0% interest offer ending and then applying for a new credit card with another 0% offer.

I've heard that MBNA and Virgin share credit limits, so i'm not sure whether to wait until my current virgin card account has shut down before applying for and MBNA one, or apply for MBNA now so there is almost an overlap time between the cards but risk having my credit limit halved on both cards - thoughts?

Secondly, i've been pre approved on an MBNA all rounder through Experian however the wording, i find, is rather confusing.

"0% for up to 29 months on card purchases made with the first 60 days (18.9% p.a. go to rate)"

So to be sure, does that mean its 0% interest for 29 months, or 0% interest for the first 60 days? The wording seems slightly contradicting to me! I'm looking for a long term 0% purchases card as i'm rolling off a 25 month Virgin 0% deal.

Thanks and advise appreciated.

[Deleted User]

They don't share limits. They're entirely separate. But lenders will take a view on what other credit you have available.

You need to read the two clauses in conjunction. You'll pay no interest for up to 29 months, on purchases made in the first 60 days.

Rda89

Ah that makes sense, so to really take advantage i'd need to foresee the next 29 months worth of purchases, and buy them in 60 days (Which of course is ridiculous as i only really use it for business expenses/occasional treat).

Thanks for the heads up on the limits too, only reason i thought that was because my friend applied for an MBNA card, and his virgin limit halved to the amount his MBNA card was for almost the week after.

[Deleted User]

You probably want to look elsewhere then, where you can make purchases over a longer period.

This one is more suited to buying a new kitchen tomorrow and paying it off over a couple of years.