What can I expect from MBNA?

chal

Hi,

following the sterling advice from this site I've just signed up for a Capital One cashback credit card (will be paying off anything it's used for on the same day, so no worries with interest rates, etc).

I currently have an MBNA card that I'll be cancelling as soon as my CO card arrives, and I fully expect the usual "is there anything we can do to encourage you not to cancel?" speech when I call them up.

The question in my mind is, is there anything they can do? I don't owe them any money, I've never used them for balance transfers (no debt other than mortgage), never used CC cheques, etc. In fact, I've never even paid them interest or charges So,
a) would they want to make any effort to keep me, and
b) what incentive could they give to keep the card?

Possibly also
c) am I revealing a deep ignorance of how this all works? :rolleyes:

If anyone's had experience of this, I'd be interested to hear it.

Thanks!

YorkshireBoy

a) Yes.
b) 0% for 6/9 months on fee-free cash transfers into your current account.
c) Possibly, due to your opening statement. Why pay the balance before you have to? Simply set up a full payment direct debit and keep the payment cash in a savings account for (up to) 56 days.

chal

a) good to know
b) so this could be my entry into the world of stoozing? (although i completely feel inadequately prepared for this at the moment)
c) good point, but I feel happier knowing that there's no unnecessary debt (i.e. not the mortgage) hanging over me (even for a few days). Since the plan is to use the card for all the purchases I normally pay for on a debit card (which is why I'm getting a cashback card), I don't want to lose track of any purchases.

Thanks for the advice!