Credit Card Balance Transfer Discussion Area 3

sooziwong

Wild Jim,
I recently had an MBNA card at the end of its 9 month 0% interest free offer. I was initially told I could do a balance transfer to Abbey/Virgin, but when I contacted Abbey, was told this is not the case, you cannot transfer from one MBNA company to another. I subsequently got a Lloyds advance and was lucky enough to get the 12 months0% which I understands has now finished. In 12 months time I will probably reapply to an MBNA company. Check it out, hope this helps.

smartsaver

We are all at the goodwill of MBNA wanting to retain our custom. They don't have to, nor do they always renew deals. This changes from client to client and time to time. Its not written in stone.

We recently paid up an MBNA account. They wouldn't renew and quite honestly who could blame them. We've had the card over a a year, made a mint out of them and they havn't had a penny from us. That said we applied for a virgin card and they gave us the same very nice credit limit we has with the card we had cancelled £18.300

Good on them I say - but don't expect too much....

Toddytinker

I am new to this so if I am in the wrong place please tell me
I am thinking of changing my car and would like to use the balance transfer method of paying for my loan. However, the loan amount will be around £12K. I assume this means using several credit cards in order to make the amount on credit limits. My worry is that once I buy the car on cards I may not be able to get 'low rate' cards to carry the loan forward. I guess I am looking for a little encouragement and any suggestions?

smartsaver

There may not be any further 0% deals .. ay which point you could take out a (smaller) loan having paid off some of the balance. Asumminig your credit worthyness allows you a loan.

If you can't afford it don't get ur self in debt to buy it. It allow depends on ur current commitments and salary.

Toddytinker

Thanks for comments, I can afford it but like everyone else I am looking for ways of reducing costs - if I can do it on low rate cards rather than higher rate loans I would like to.