MBNA Platimum Repeat Offer?

DJ1UK

Hi All,

I've just cleared my MBNA platinum plus card after 9 months of 0%. How likely is it that they will offer me another 0% period or a reduced transfer rate. Ideally I'd like a low life of balance rate.

My limit is £2500. Should I call them or wait for them to contact me and should I wait until I recieve my monthly statement (showing a nil balance) first?

Anyone have any past experiances with repeat offers on this card?

Thanks

DJ

Clariman

DJ1UK wrote:

Hi All,

I've just cleared my MBNA platinum plus card after 9 months of 0%. How likely is it that they will offer me another 0% period or a reduced transfer rate. Ideally I'd like a low life of balance rate.

My limit is £2500. Should I call them or wait for them to contact me and should I wait until I recieve my monthly statement (showing a nil balance) first?

Anyone have any past experiances with repeat offers on this card?

Thanks

DJ

MBNA used to be very good at repeat offers, but they are tightening up. I had a 12 months 0% card with MBNA which they extended by a further 6 months in the middle of last year. At the end of the additional 6 months they offered me nothing, nor did they extend a 6 month Abbey/MBNA card which I closed in May. However - the good news - last week they accepted me for a brand new Virgin/MBNA card on a 9 month deal.

If I was in your position, I would ensure that your balance is 0 then call them to close the card or ask if they could put you through to the loyalty department to see if you could negotiate an extension. I think 0% extensions are rare now, but they might offer you a low interest BT e.g. 1.9%.

If they don't give you a decent offer, then apply for another card elsewhere and come back to MBNA to apply for one of their other cards a few months down the line.

Clariman

Longpockets

DJ1UK,
You could try the following if there are no repeat offers:
1. Apply for one of the other cards in the mbna stable e.g. Virgin,Abbey,
A&L etc with a view to doing a 0% BT.
2. Once you have obtained the card with its associated credit limit
phone up mbna and ask to have your mbna limit added to your
new limit thus increasing it.
3. Carry out the BT on the new card.
4. When your time on the new card has expired try for an extension.
5. If no extension forthcoming transfer your full credit limit back to your
MBNA card and close your new card.
6. Repeat steps 1 - 5 for each other mbna stable card thereby gradually
increasing your limit.

I am currently at step 4 for the first time so I cannot say how durable this sytem is but I am hopeful.
Clariman, do you think that it would be advisable to leave say 1 month or more before applying for a different mbna stable card having cancelled another mbna stable card.

omega27

Just finished 9 months @ 0.9%, used the card for a few purchases & they sent me a letter asking to contact them & to have details of other cards etc... Guy offered me 2.9% for 6 months (2% fee capped at £50), but I couldn't get him to go any lower. Still cheaper than the 5.9% HSBC were charging!

fatboyonadiet

Longpockets MBNA only let you have one MBNA card now, they've changed their rules.

fatboyonadiet

You can transfer your credit limit from your old closed card though - done this myself once.

DJ1UK

Thanks for all the info.

Think I will wait until I get my next statement showing a nil balance then give them a call and see what the can offer.

Fingers crossed!!

DJ

DebtEverest

I was following this thread with interest yesterday as I too am in the same situation. Just finished 12 months 0%, cleared the balance and was going to wait for my next statement showing nil balance before I did anything else.

I did not expect MBNA to contact me, but suprisingly, they did yesterday via email. It looks like a bog standard message saying that they are offering good BT deals etc etc

However, if i log into my account and click through to the BT screen, there is absolutely no mention of how much the BT interest rate actually is! They let you go through the whole BT process and dont seem to mention it at all.
What they do mention is that they charge 3% of the BT or a minimum of £3.

how sneeky!

I think I'll phone them later.....

omega27

But if you speak to them, the www site updates! I had the same, no information. Now it says 2.9%, as agreed on the phone.

DJ1UK

Are the BT rates for life of balance or for a set period (9 months?)

Here's hoping I get an email soon!

DJ

InsuranceLiability

I rang them up today to say I was closing my account because I wanted to transfer my balance elsewhere and they closed my account.

I will receive a letter confirming it in the next few days