MBNA 0% balance transfers - BEWARE !!!!

Tirian

Oh, I'd give it a go for sure! Nothing ventured, nothing gained as they say! However if you've got the 0% re-instated and they won't budge on the interest then I'd say you've got as good a deal as you are likely to get from them. At this point, I expect that further effort is probably going to just be a waste of your time - you're very fortunate that they've given you the 0% back, as they could very well have refused to do even that.

I hope that you either (a) have it in writing, or (b) got the name of the person who promised you the 0% back ... you don't want to get to next month and find that it hasn't been done, and nobody you talk to knows anything about it!

Also note that they even though they may reinstate 0% on the £12k balance, they will very probably charge you interest on the £200 interest - and they are pretty unlikely to budge on that either.

CannyJock

Nodding along with Tirian here, also worth a phone call to their nice CS department just to confirm that your card is all in order and to confirm the % rate on the £ 200 interest.

Got the DD setup now?

[Deleted User]

Tirian wrote: »

Oh, I'd give it a go for sure! Nothing ventured, nothing gained as they say! However if you've got the 0% re-instated and they won't budge on the interest then I'd say you've got as good a deal as you are likely to get from them. At this point, I expect that further effort is probably going to just be a waste of your time - you're very fortunate that they've given you the 0% back, as they could very well have refused to do even that.

I hope that you either (a) have it in writing, or (b) got the name of the person who promised you the 0% back ... you don't want to get to next month and find that it hasn't been done, and nobody you talk to knows anything about it!

Also note that they even though they may reinstate 0% on the £12k balance, they will very probably charge you interest on the £200 interest - and they are pretty unlikely to budge on that either.

Good point. I think I'll phone them tomorrow just to check they've done it.

Yeh. Thats another thing - I'm going to have to pay interest on the interest now, aint I?

Tracyk_2

This is a lesson for me too.

I pay all my CC's by SO - mainly cos I change the amount I pay off each month depending on whether I can afford any extra or not.

I presume best course of action is to set up DD for minimum and then top up with a SO??

[Deleted User]

YorkshireBoy wrote: »

Paul, apologies if I've missed it, but is this real debt or are you stoozing?

Pretty much real debt....:-(

YorkshireBoy

[quote=[Deleted User];8248217]Pretty much real debt....:-([/quote]Ouch!

Look on the bright side though, you won't make the same mistake again.

wayoflife

YorkshireBoy wrote: »

A poster on the stoozing site claims to have a total of £70K, spread over 5 cards with MBNA.

He also claims to be able to swap these limits around to maximise his profit on individual stooz offers.

http://www.stoozing.com/cgi-bin/forum/YaBB.pl?num=1198799618/7#7

As I commented on the above thread though, MBNA say (in the T&C's) the highest credit limit they will grant is £50K, and many lenders limit their exposure to unsecured debt to £25K per customer.

2 things guys...

First of all that comment about people being jelous of a 12k limit is completely unjustified. With all due respect I was meerely pointing out how someone could build up a 12k limit making silly mistakes like that...I am perfectly happy with my limits and what I have done in the short time Ive been in this credit card mindfield...

secondly I hate to be a topper, but I know someone who has about 20 credit cards and started this stoozing business about 15 years ago when there was real profit in it and no bt fees e.t.c. he reads all the T&C's and many of his cards still honour alot of their conditions with him. He really is the Daddy of stoozing!! lol

[Deleted User]

YorkshireBoy wrote: »

Ouch!

Look on the bright side though, you won't make the same mistake again.

Bright side !!!! Thats certainly a postive way to look at it !!!!

[Deleted User]

No reply to my letter (posted Saturday) from MBNA yet...

Calchas

Whatever the reply to your letter, it still won't satisfy the blood drinkers who seem to get attracted to an original post such as yours!

May they rest in peace without ever having made a mistake in their lives! :T