Mbna money transfer

mwatkins123

Hi, I have 12 months interest free cash transfer on a mbna credit card, would doing a transfer for say £600 and paying off at £50 at month improve my credit score? 

MallyGirl

is it also fee free? If not then don't go there - you should never incur costs in the pursuit of a number.

mwatkins123

Just looked and there is a 4% fee on the loan amount, guess its not worth while? 

MallyGirl

No - just using a card for purchases and paying in full after the statement is produced will have the same effect and cost nothing.

Fighter1986

Don't need to constantly use your card either. Letting it sit with a NIL balance for a few months at a time then maybe using it for a few months shows you're not reliant on credit but able to pay for it when you use it. 

This is how my mother has used her cards over the years and her creditworthiness is stratospheric. I've never known her to be declined for anything. 

mwatkins123

Thank u very much for ur help