Mule cards

daivid

Is anyone getting good money transfer offers (0 fee and ideally low interest too) on their cards? 

My go-to cards (MBNA and Halifax mastercard) have had their limits slashed and show no offers. Halifax clarity shows 0 fee 23% apr - not a problem if the debt is BT away fast. To stooze all the BT credit I seem to have available I'd have to repeat the process 3-4 times if using the Clarity card alone. I think I can only use a money transfer once a month on the card and worry using MT repeatedly will create a black mark on the account? I don’t want to lose the card or its limit as it is my main travel card.

DJSINGH

Just do the balance transfer first then do the money transfer. That's what I do. Means you can do more than you limit as you'll be in credit

daivid

DJSINGH said:

Just do the balance transfer first then do the money transfer. That's what I do. Means you can do more than you limit as you'll be in credit

It's an idea, though I might not as I'd been creating a credit balance deliberately and I'm pretty sure is against T&C. If I still had one of the other cards I didn’t care much about I'd give it a go but I don’t want to jeopardise the Clarity card or its limit.

DJSINGH

daivid said:

DJSINGH said:

Just do the balance transfer first then do the money transfer. That's what I do. Means you can do more than you limit as you'll be in credit

It's an idea, though I might not as I'd been creating a credit balance deliberately and I'm pretty sure is against T&C. If I still had one of the other cards I didn’t care much about I'd give it a go but I don’t want to jeopardise the Clarity card or its limit.

I've done it with clarity enough times. You'll be fine

Emily_Joy

daivid said:

Is anyone getting good money transfer offers (0 fee and ideally low interest too) on their cards? 

My go-to cards (MBNA and Halifax mastercard) have had their limits slashed and show no offers. Halifax clarity shows 0 fee 23% apr - not a problem if the debt is BT away fast. To stooze all the BT credit I seem to have available I'd have to repeat the process 3-4 times if using the Clarity card alone. I think I can only use a money transfer once a month on the card and worry using MT repeatedly will create a black mark on the account? I don’t want to lose the card or its limit as it is my main travel card.

You can do MT more than once. I have done it at least twice last May with Lloyds.

Fingerbobs

daivid said:

DJSINGH said:

Just do the balance transfer first then do the money transfer. That's what I do. Means you can do more than you limit as you'll be in credit

It's an idea, though I might not as I'd been creating a credit balance deliberately and I'm pretty sure is against T&C. If I still had one of the other cards I didn’t care much about I'd give it a go but I don’t want to jeopardise the Clarity card or its limit.

This. I've never risked doing this, as it is a clear breach of T&Cs. I fully accept that you will almost certainly get away with it, but I like to remain squeaky-clean at all times, just in case of any disputes. The interest on (worst case scenario) a couple of days is negligible in the general scheme of things. 

FWIW, I currently have MT offers of 5.9% APR with 0% fee on both Halifax and Lloyds cards. 

Nebulous2

My largest credit limit is MBNA. They offer 5.6% for 18 months or so fee-free. 

I've applied for 3 cards in the last 2 months, 2 of them I've taken an MT offer from MBNA and then used a BT to pay it off. The third card is a purchases one. 

My issue is that my circumstances have changed, as I'm mainly retired, working part-time, and I am not getting the credit limits I used to. So my constraining factor is my new card BT limits, rather than my MBNA MT ones. 

I apply for a card without asking for a BT, get the limit, then ask for an MT for roughly 85% of the limit, and as soon as the card arrives I BT the balance away from MBNA.