Best Balance Transfers Discussion Area

Moggles_2

Originally Posted by CannyJock
Is possible to have more than one card with MBNA - read more on the forums and you'll find references to moving credit limits between MBNA cards.

Moving credit limits between MBNA cards is a useful technique, but may not be helpful in this case. The OP would have to pay off/shift the balance of the old MBNA card first, before its credit limit could be moved to the new card.

teresa2406

Moggles wrote: »

Those with a zero balance are definitely worth a try. If possible, I would phone during normal business hours.

If you don't get a decent balance transfer offer, you have two options. Either wait a few weeks and call again or, if they've offered nothing whatsoever, it may be time to close the account.

Unless a card has a particular benefit, then I would cancel. Firstly, having loadsa credit, even if not used, can put off potential lenders and secondly, by cancelling a card you can re-apply to that provider as a 'new' customer and take advantage of any introductory deals on offer.

Another good reason for phoning customer services to cancel an unused card is that occasionally you're offered an incentive to stay

Yes, I agree with you. I've heard from Barclaycard now and they've found that I already have an account with them so are prepared to offer me a deal, they're going to send me an application form so that's sounding pretty hopeful now. If they don't give me a big enough credit limit I'll try the others to see what they can offer and then close all the other accounts.

I didn't realise before that credit card accounts that aren't in use can still affect your credit rating but I guess it makes sense as you could still spend on these cards at some time in the future.

Feeling less stressed about things now, and you've helped to make it all a bit clearer for me. Thanks v much

bobbytwo

Hi...

As of this Monday Abbey are improving their Balance transfer offer for anyone that currently holds an Abbey-Mbna Card (e.g. an Abbey credit card that was taken out prior to January 2006)

This is because they now offer their own Credit Card proposition and cards taken out with Abbey prior to Jan 2006 are now "MBNA" cards.

0% balance transfers for 13 months
No balance transfer Fee (as long as transfer done within 1st month)

It's known as a "Priority offer" but is only open to someone that holds an Abbey-MBNA card...... However, the balance transferred does not have to be from an Abbey-MBNA card.

e.g.

If you have an Abbey MBNA card with a zero balance and a barclaycard that does have a balance then you could apply for an Abbey Priority card and transfer the balance from the Barclaycard and be eligible for the 0% for 13 months with no fee payable.

Hope this helps someone!!

Ian

unidentified

Have you considered Mint? This card offers new customers 0% on balance transfers until 1 May 2009. A 2.9% handling fee applies but there's a bonus offer on BTs debited to your account in July 2009.

I had and was in the process of applying for a Mint card, until I noticed it say "please be aware you cannot transfer balances from any cards underwritten by Bank of Scotland" so that one was out.


I applied for Egg, although I'm still not convinced. I never ever set Direct Debit payments before, because I always pay my bill (well, some of it off) the very day it arrives. I've never missed a payment yet this way in around 10 years.


Also I applied for an Abbey card just in case I decided against the Egg Card as I know they use online banking, I had one before but never used it so hoping they may give a good rate - and also have an Abbey current account so would that swing in my favour?


I also had a Barclaycard for around 2 years, which I never ever used as the credit limit was too low, wondering if I reapplied there would they boost the credit limit?

Anywhere else I should apply just in case? Post Office Card?

cherrypie556

Is there any card we could get? Atm, hubby has a credit card with £2800 on from Natwest. We pay about £43 a month on purely interest and payment protection (although didnt ask for this ?) We have in the past applied for a bal transfer to a mint card, but they only gave us a £300 limit so that was no good and the card never got used. He has also in the past had a MBNA one (used natwest to transfer it over) but as far as iam aware, he has never cancelled either the mint or mbna ones. We did apply for a abbey one a while ago, got accepted but never went ahead with it but did receieve the card just never activated it (cant remember why) Is there any others we could try as i know most are underruled by the same companies RBS for eg.

Any advice, thanks.

YorkshireBoy

unidentified wrote: »

I had and was in the process of applying for a Mint card, until I noticed it say "please be aware you cannot transfer balances from any cards underwritten by Bank of Scotland" so that one was out.

Mint is underwritten by Royal Bank of Scotland, not plain old (Halifax) Bank of Scotland.

Who Owns Who

CannyJock

unidentified wrote: »

I applied for Egg .... Also I applied for an Abbey card just in case I decided against the Egg Card ... Anywhere else I should apply just in case? Post Office Card?

Remember each application will record a search on your credit report - not necessarily a problem, I applied for 4 cards the same day and was accepted for them all.

Virgin Money card is a good 0% offer and everyone I know who's applied for one has been given a decent credit limit.

Are you taking these cards out to build a stooze deck or just looking for somewhere to put the £ 3000 you mentioned in your previous post?

unidentified

YorkshireBoy thanks for that list, it's very helpful.

Not trying to build a stooze deck no, just want to transfer my £3000 (don't mind if there's a transfer fee) and then be able to start paying it off (but with 0% interest).

Remember each application will record a search on your credit report - not necessarily a problem, I applied for 4 cards the same day and was accepted for them all.

In that case, would I be better cancelling those cards which remain unused?

Will it go against me having unused cards?

Virgin Money card is a good 0% offer and everyone I know who's applied for one has been given a decent credit limit.

Oh how I wish this would work. Only problem one of the cards is already a Virgin Money card so I'm sunk there

Moggles_2

Originally Posted by unidentified
I applied for Egg .... Also I applied for an Abbey card just in case I decided against the Egg Card ... Anywhere else I should apply just in case? Post Office Card?

Personally, I wouldn't apply for further credit for a bit.

Think about the number of applications for credit you've made in the past 3 months. Include catalogues, store cards, mobile phones etc. not just credit cards, as all can leave footprints on your file. Then consider your plans over the next 3 months.

Credit checks appear on your credit file more or less in realtime. In itself the effect of a couple of credit card applications (Egg and Abbey) may be insignificant but, in the context of your credit history as a whole, could certainly have an impact.

If your aim is to transfer balances from two cards on to one new card, I would stick with what you've got. IMO, it's not worth damaging your credit rating in a quest for
cards which may not even be used.

As noted above, Mint would have been fine, but you plumped for Egg, which is an excellent deal too. You also have a second string with Abbey, should you change your mind about Egg.

Moggles_2

Originally Posted by unidentified
Would I be better cancelling those cards which remain unused?

If you have just four in total - Barclaycard, Bank of Scotland, Virgin and (we hope ) Egg or Abbey) - this isn't excessive, but please see #245 above.