MBNA/bmi Amex card

MothballsWallet

Right, I applied for one of these and was accepted, so just waiting for the card, PIN and card chequebook (which I won't use) to arrive.

Now, a chap from MBNA called (a "welcome call" they called it), and said that the account was now open after confirming they were talking to me.

There's something a bit odd - I know they've got the "spend 250 quid on the card within 90 days and get 20k bmi Destination Miles" offer, but it sounded like there's an extra bonus miles offer going as well for the first month.

(They also offered me PPI, but I said no thanks, like a good MSEr :money:.) Now, do I stooze on this card as I've got a 0% for 12 months deal on it too, which means I can borrow money for 12 months (but there's a 2.98% fee on that).

Because the card hasn't arrived, I don't know what my limit is yet. Not sure if it's worth doing a stooze or not.

YorkshireBoy

MothballsWallet wrote: »

...just waiting for the...card chequebook (which I won't use)...

Why not? Cheques are 0% just like BT's.

Now, a chap from MBNA called (a "welcome call" they called it), and said that the account was now open...I don't know what my limit is yet.

Didn't you think to ask him?

Now, do I stooze on this card as I've got a 0% for 12 months deal on it too, which means I can borrow money for 12 months

The general rule is not to spend and BT on the same card if the 0% durations are unequal (as they are on this card), because the order of payments will mean you pay interest on your purchases from month 4 onwards on this card.

(but there's a 2.98% fee on that).

It's actually 3%, unless they've done you a special offer?

Because Not sure if it's worth doing a stooze or not.

Run your figures through this calculator...

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

...and then knock off the interest charged on your purchases from month 4 onwards to see your true return.