Check your MBNA cards for a great MT opportunity

Darkesh

Hello, Thank you to all those that came before and inspired me to give this ago.

I checked an old MBNA card I had for MT's and I had two offers one was with a 5% fee for 12mths at 0% and one was 0% fee and 6.9% p.a. for 24mths.
I then applied for a Natwest BT card for 0% fee and 0% for 13mths. Did the BT from the MBNA then did the MT. Woke up the next day and had the cash in my current account and an email from MBNA saying they had received my payment.

I checked MBNA and still had the same offer. So I did the same again with RBS and was accepted, albeit with a slightly less credit limit.

Still have got the same offer. So I closed my Santander Everyday CC 0% 0% 12mths and 5 minutes later applied for another one, was accepted with more than double the Credit limit I had last time. Just waiting for the card to come through or appear in app to complete this one.

Finally, I went for Ulster bank but was declined at the eligibility check stage due to having reached the limit of Credit card applications in the last 6mths.

So I should receive about £980 in interest payments in 12mths time. So well worth a couple of hours work I think. 

I am now addicted to this and also hunting for savings accounts. If anyone else can give me any other avenues to explore I would be grateful.

Best wishes,

adindas

"I checked an old MBNA card I had for MT's and I had two offers one was with a 5% fee for 12mths at 0% and one was 0% fee and 6.9% p.a. for 24mths. "

I am not quite sure if any stoozer will ever touch this offer. This might only be useful to those who keep shifting their debts thinking their debts will go away just by keep shifting it until they find the dead end.

For the stoozer hold it, do not take this inferior offer. Barclay is well known to offer the BT and MT deal to existing customer. In a few occasions the deal is very good.

daivid

The second option is fine, BT it away instantly and you’ll likely get away with a day or two’s interest. Hardly a new or special offer though, has been highlighted on here many times and been continuously offered on my MBNA card for well over a year.

Darkesh

adindas said:

"I checked an old MBNA card I had for MT's and I had two offers one was with a 5% fee for 12mths at 0% and one was 0% fee and 6.9% p.a. for 24mths. "

I am not quite sure if any stoozer will ever touch this offer. This might only be useful to those who keep shifting their debts thinking their debts will go away just by keep shifting it until they find the dead end.

For the stoozer hold it, do not take this inferior offer. Barclay is well known to offer the BT and MT deal to existing customer. In a few occasions the deal is very good.

Did you actually read my post? You have to do this with 0% 0% BT cards for it to work the 6.9% is irrelevant the 0% fee is what counts. I have not paid any fees and the money is sat in a savings account earning interest at 5%. I also have a 17mth 0% purchase card which allows me to add about 800- 1000 pounds a month to my savings but is a slower method. The way I have learned from others on here, allows you to front load and get some decent interest from the get go.

kempiejon

I call the cards that are used as intermediary as a way to transfer money to your current account a mule card. I use MBNA for that purpose. Recently scored fee free with RBS, Sainsbury's and low fee Tesco, looking to add HSBC but they want to talk to me. Probably too much credit recently. Got a fixed rate 12 month savings at 5.5%

WYSPECIAL

I seem to permanently have that   6.9% for two years with zero fee offer from MBNA which is really handy to use as a mule card when there are good balance transfer offers around.

I’ve not had a decent balance transfer offer since just before Christmas though. Any below 5% have been for less than 12 months so have worked out as 5%+ per annum.

adindas

Darkesh said:

adindas said:

"I checked an old MBNA card I had for MT's and I had two offers one was with a 5% fee for 12mths at 0% and one was 0% fee and 6.9% p.a. for 24mths. "

I am not quite sure if any stoozer will ever touch this offer. This might only be useful to those who keep shifting their debts thinking their debts will go away just by keep shifting it until they find the dead end.

For the stoozer hold it, do not take this inferior offer. Barclay is well known to offer the BT and MT deal to existing customer. In a few occasions the deal is very good.

Did you actually read my post? You have to do this with 0% 0% BT cards for it to work the 6.9% is irrelevant the 0% fee is what counts. I have not paid any fees and the money is sat in a savings account earning interest at 5%. I also have a 17mth 0% purchase card which allows me to add about 800- 1000 pounds a month to my savings but is a slower method. The way I have learned from others on here, allows you to front load and get some decent interest from the get go.

I could see what you are doing now. Yes 6.9% is irrelevant as the interest for 1-2 days of 6.9%pa MT is tiny. But there is a better way of doing it using what is the so called mule credit cards. You do not need a pair of MT and BT card at the same time. In your case all you need is Natwest BT card for 0% fee and 0% for 13mths and mule credit card. The mule card do not need to be particular MT or BT card. The mule card could be reused multiple times. Search it in this forum there are a lot of info available. I am not quite sure whether it is still working now.

jay1804

Hi, I'm wondering how often you can ask MBNA for a limit increase? I recently requested one, but I was quite cautious in my ask, especially when it comes to Stoozing.

I've checked out getting a new card, and it looks like I'm pre-approved for the same limit before the increase.

Another option if I can't increase it again, is to apply for the new card and redistribute the limits, but I'm a bit hesitant about the extra credit check and opening a new account. 

Any thoughts or advice on the best way forward?