0% Credit card what will minimum payment be?

Dolly123

Here we go read this...

https://www.balancetransferexpert.co.uk/mbna-balance-transfer-existing-customers/

Ben8282

You have not applied for a second MBNA card. You have applied to swap your existing card for a different card type. That is why the credit limit remains the same and the original account has been closed. The existing balance has been moved 'to the new card account but this is NOT a balance transfer. The e-mail from MBNA clearly states that they will move the balance to the new card at the standard APR.
I'm afraid that you have misunderstood things The 0% offer on balance transfers will apply to real balance transfers made to the card from other providers and the (non-existant, see below) 0% offer on purchases will apply to new purchases, but I'm afraid the existing balance will stay at the standard APR.
The link to MBNA existing customer balance transfers is not relevant here in any way as this is not an existing customer balance transfer; in fact it is not a balance transfer at all

Dolly123 wrote: »

It will be from an MBNA card with a 29% interest rate to a new MBNA 0% interest card with 20 months purchases and 30 months balance transfers

You seem prone to getting your facts wrong. According to the image you uploaded of the letter which accompanied the new card this new card has NO promotional rate on purchases.

Dolly123

Oh I don’t know!! Sleeper will you try do your offer and pay a bit more attention

Verityspinelli

MBNA have now been taken over by Lloyd’s group who as do Halifax offer to swap your credit cards over to new balance transfer cards etc, so not actually having 2 cards just having a new card with the old cards balançe swapped onto it.

nick74

I was looking at my MBNA account online recently and noticed that since the switchover to the Lloyds system it was now possible to do this. It's not a balance transfer, as has already been said, and would be more accurately described as a 'product transfer'. Any existing balance moves across at the standard APR of the product you transfer to, not the balance transfer rate.

onlyfoolsandparking

And where does it actually say this?


On my account I have 3 offers at the moment (not particularly attractive offers I must add)


0% for 18 months 3.5% fee
3.9% for 36 months no fee
3.9% for 36 months no fee money transfer


But I cant find anything on the website that remotely looks like a 'product transfer'


Am I going insane?

A4445

This is the same has Halifax. You have just switched to a new card. It clearly states you balance will be transferd it’s not 0% it’s the standard APR. It’s still better than you had before.

Ben8282

A4445 wrote: »

This is the same has Halifax. You have just switched to a new card. It clearly states you balance will be transferd it’s not 0% it’s the standard APR. It’s still better than you had before.

Lloyds have also allowed this for years. It is not an 'offer' and does not appear in existing customer offers. The information about swapping the card type is contained in the website; you just have to look for it.

onlyfoolsandparking wrote: »

And where does it actually say this?


On my account I have 3 offers at the moment (not particularly attractive offers I must add)


0% for 18 months 3.5% fee
3.9% for 36 months no fee
3.9% for 36 months no fee money transfer


But I cant find anything on the website that remotely looks like a 'product transfer'


Am I going insane?

It won't appear as an offer.
This page in the FAQ section deals with this subject
https://www.mbna.co.uk/understanding-credit/understanding-transfers/switching-credit-cards.html

redux

I'm with the people interpreting this as a transfer to the new card at its standard interest rate, not 0%.

If you still dont rhink so, at the very least it's worth phoning up to have it clarified.

And consider applying for a new 0% card offer elsewhere, and transferring this to that.

Dolly123

Yeah I've had it confirmed today its not 0% its to the standard APR never mind eh its still better than what we have before!