MBNA - Platinum Mastercard - cold calling

kalpakjian

Hi all,

I've an MBNA Platinum Mastercard that I use for retail purchases, and have held the card for about a year. I pay the full balance every month, and have never incurred charges or interest.

I have explained to MBNA on numerous occasions that I do not wish to use the balance transfer service that they offer, but they continue to cold call, trying to get me to do a 0% BT when I have around a £1000 purchases on the card. They have even offered this facility with no BT fee in a couple of email mailshots. This always seems to be when there is a high balance on the card. They also try to sell me every inconceivable form of insurance.

I’m not too bothered about the bi monthly phone call, just concerned about their motives.

Do you think that they want me to BT so that I unwittingly pay interest on the outstanding purchases balance?

Thanks

Kal

jonesMUFCforever

They want to make money out of you.
You seem too clever to fall for it.

Carry on going as you are!

YorkshireBoy

...or play them back at their own game...

http://www.moneysavingexpert.com/cards/stooze-cash-credit-cards#MBNA

(Just make sure you have a zero balance before you start).

arfon

You could ask them to note that you no longer wish to be called for marketing purposes. You can even ask them not to email you for marketing purposes.

But as the previous poster said, you'd be missing out on all the fun...:rotfl:

Zebedee69

Oh yeeeeer! Stooze the lot!

Birdie100

Thnaks very much MBNA. Have just made a £24.75 profit out of them. This is made up of borrowing £465 for a year from them, and investing it back into a 6.7% fixed rate savings account (ie investing the £465 at 3.7%, giving a return of £17.25, and £8.50 quidco cashback (tracked, but I am aware could not be paid, potentially). Still, as a student, every little helps!

kalpakjian

YorkshireBoy wrote: »

...or play them back at their own game...

http://www.moneysavingexpert.com/cards/stooze-cash-credit-cards#MBNA

(Just make sure you have a zero balance before you start).

Thanks for the replies, it's appreciated. This is great forum:j !

Our current expenditure that can be paid by credit card is approximately £700 - £1000 a month.

I've just been accepted for a Halifax One card that offers 12 months at 0%, and the credit limit applied will cover the estimated monthy spend of £700 - £1000 a month for the 12 month 0% period. The Halifax card will only be used for retail purchases, and we will pay the minimum balance by direct debit for the 12 month 0% period. The money owed to Halifax will be placed in high interest account that incurrs tax, but allows a £1000 deposit a month at 8% AER.

Our ISA limits are accounted for and no deposits can be made for this purpose.

Some Questions

1. Do MBNA offer a BT with a capped £50 transfer fee? If not, can this possibly be negotiated?

2. With the 3% BT fee rom MBNA, are there any savings accounts (tax liable), that make a stooze worth while? To make the sums easy, assume a £10,000 BT limit:eek: .

3. Is it more feasible to just cancel the MBNA credit card and flirt with the combined introductory offers from card companies and cashback sites like quidco?


thanks in advance for any pointers.

Kind regards

Kal

YorkshireBoy

kalpakjian wrote: »

1. Do MBNA offer a BT with a capped £50 transfer fee? If not, can this possibly be negotiated?

There's usually some room for manouvre as an existing customer...especially if they are initiating the call. If you aren't getting anywhere with the CSA you're dealing with, try retentions on 0800 783 1116.

2. With the 3% BT fee rom MBNA, are there any savings accounts (tax liable), that make a stooze worth while? To make the sums easy, assume a £10,000 BT limit:eek: .

Depends on the duration and your own cost/benefit analysis...ie is it worth the effort. Take a look at this table of recommended stooz accounts:

http://www.stoozing.com/savings.htm

3. Is it more feasible to just cancel the MBNA credit card and flirt with the combined introductory offers from card companies and cashback sites like quidco?

Special offers on well managed MBNA run accounts will deliver much better returns than new card introductory offers in my experience.