Is MBNA still good and could be used to facilitate BT?

pantaiema

I got a good 0% on BT with Barclaycard and will use MBNA to facilitate that to be transferred to my current ac (e.g mulcard). Is still working without inherent problem ? I also have Virgin Money Credit card that could be used instead. I know both cards are very good cards for mulcards. Could be also be used on the same way with MBNA? Any lead on this will be very much appreciated. Thanks

WillPS

What on earth is a "mulcard"?

If you're asking whether you can balance transfer leaving you with a credit balance which you're hoping will be returned to you in cash, you are playing with fire.

Jami74

pantaiema said:

I got a good 0% on BT with Barclaycard and will use MBNA to facilitate that to be transferred to my current ac (e.g mulcard). Is still working without inherent problem ? I also have Virgin Money Credit card that could be used instead. I know both cards are very good cards for mulcards. Could be also be used on the same way with MBNA? Any lead on this will be very much appreciated. Thanks

A couple of years ago I did a money transfer from MBNA to my current account, and then used a Natwest 0% balance transfer card to clear the MBNA card and paid the Natwest card off in equal instalments before the 0% promotion ended. Is that what you mean? If so, watch out for the transfer fees.

callum9999

WillPS said:

What on earth is a "mulcard"?

If you're asking whether you can balance transfer leaving you with a credit balance which you're hoping will be returned to you in cash, you are playing with fire.

A mule card.

As long as you're aware of the potential issues, it's hardly the risk of the century. 

I wouldn't necessarily recommend it to the OP as they don't give the impression that they know what they're doing, but positive balances aren't as terrifying as people like to make out on here. Given the low interest rates I'd imagine it's less common to do nowadays, but when stoozing was in it's heyday there were dozens doing it successfully for every person reporting their card was closed.

noh

I have done exactly that today.
A money transfer from MBNA to my current account followed by a balance transfer to Barclaycard.
All worked ok. Money was in my current account within a few hours of the transfer request. I then requested the balance transfer to Barclaycard which was completed the same day.
At no time was there a positive balance on the MBNA card.

MBNA have a zero fee Money transfer offer. Barclays BT offer for me was 0% for 23 months with a 2.9% fee.
Interest rates for 1 year fixed accounts are around 4% which makes stoozing worthwhile again.

adindas

WillPS said:

What on earth is a "mulcard"?

If you're asking whether you can balance transfer leaving you with a credit balance which you're hoping will be returned to you in cash, you are playing with fire.

It is not that so bad like playing with fire, as you are not doing something illegal against the law.

Some people on this MSEs did that in the past for stoozing when the saving interest rate was much higher than BT fees and the duration of 0% on BT is reasonably long. I have not done that recently so I do not have an up to date information.

Literally you could just use a BT credit-card, instead of using money transfer which in many occasions are offering a poorer deal.