A warning about MBNA (Virgin Credit Card) !

thenudeone

arum_lily wrote: »

Anyone who has 20 cards & owes £100,000 seriously needs to get their finances in order.

What a complete load of rubbish. You don't have a clue what you are talking about.

I have an offset tracker mortgage. When the base rate was around 5% some years ago I had balances of c. £50k on cards which had cost me a 3% fee for 12-18 months at 0%, but every penny was in the offset account earning 5% pa tax free. Over the years I managed to knock several thousand pounds off my mortgage balance, all completely risk free.

cooltt

thenudeone wrote: »

What a complete load of rubbish. You don't have a clue what you are talking about.

I have an offset tracker mortgage. When the base rate was around 5% some years ago I had balances of c. £50k on cards which had cost me a 3% fee for 12-18 months at 0%, but every penny was in the offset account earning 5% pa tax free. Over the years I managed to knock several thousand pounds off my mortgage balance, all completely risk free.

Yes it takes a little planning but can be done if your diciplined with money.

Anyway to the original post, I've had lots of different cards from MBNA and never had any issues, you suimply have to read read and read again.

bengal-stripe

cooltt wrote: »

Anyway to the original post.......

Goodness, this post is four years old!!!