Experience with MBNA lowering APR?

creditcardnewbie

Hello to you all,

I currently have an MBNA Visa Platinum card with £0 balance on it.

I would like to do a Money Transfer but my APR is very high - 27.9%

I am just wondering if anyone has had experience requesting MBNA to lower their APR and how obliging they are?

I have had the card for roughly 1 year now and I have never spent on it. I used it initially for a Balance Transfer which has now been paid in full - no payments missed etc.

Many thanks for any advice you can offer,

creditcardnewbie :beer:

Ben8282

If you don't have any offers on money transfer offers you obviously don't want to do one at that sort of APR.
You could try to apply for a new money transfer card.

bengalknights

Never known them for lowering APR mainly giving 0% deals for certain amount of time

binaryuniverse

Don't do this, unless you somehow manage to get them to agree to a 0% interest rate with 0% transfer fee. Which is very unlikely.

If MBNA are offering you a 0% fee on money transfer then the way to go about it is to take out a card with a 0% Balance Transfer fee, and 0% interest offer.
Then do the money transfer on your MBNA card and immediately transfer it to your new card.

I opened a new Barclaycard, recently. Transfers were done within 4 days of the application. They offer 25 months at 0% with a refunded 2% fee (so effectively fee free - and the refund was paid the day after the transfers).

creditcardnewbie

Thank you to everyone for taking the time to reply. I really appreciate your input on this.

I couldn't find many posts on it so thought I'd ask the question. 27.9% is definitely too high to do a transfer with so I'll check out the other cards to see if I am entitled to a second card with MBNA.

Thank you again :beer: