Is it possible to do a Super Balance Transfer before recieving your credit card?

Kaynem

Ive recieved my PIN number and also some attached cheque slips, but haven't recieved my credit card yet. Recent letter says it will take 7-10 days, even though the previous letter i recieved with my PIN said 7-10 days back then too :rolleyes:

I was wondering if it's possible to do a Super Balance Transfer now that ive recieved my cheque slips. Or would i need to wait for the credit card to arrive and my monthly billing date to be activated?

It's an MBNA Platinum card i have.

Thanks.

skyrider007

Yep, I've got the same card as you. If you've got the cheques then you can use them right away.

MBNA do 0% on CC cheque but charges 3% handling fee.

YorkshireBoy

I wouldn't use them yet. Then again I wouldn't use them at all...I'd ask MBNA for one of their transfers of cash straight to my current account during the activation call.

Did you see the reply to your same question on the stoozing board?

Kaynem

YorkshireBoy wrote: »

I wouldn't use them yet. Then again I wouldn't use them at all...

Any reason for that YB? Have you had a bad experience transferring through that method?

neil9313

maybe there is no fee if down over the phone?

skyrider007

Kaynem wrote: »

Any reason for that YB? Have you had a bad experience transferring through that method?

I'm not YB, but I can tell you that there is absolutely nothing wrong with using MBNA's 0% cheque. It just takes a day or two longer for fund to clear as oppose to transferring via BACS (which can be requested on the phone or online banking).

neil9313 wrote: »

maybe there is no fee if down over the phone?

MBNA charges 3% handling fee regardless of the method of fund transfer (cheque, BACs, BT, on the phone or internet).

YorkshireBoy

Kaynem wrote: »

Any reason for that YB? Have you had a bad experience transferring through that method?

If your account isn't fully open (until you activate the card) then the cheques may be bounced.

Cheques will take between 4 and 6 days to clear, depending on where you pay them in. An SBT will be cleared in 3 days. And your card may arrive tomorrow!

I think I've seen reports of BT's being actioned before the card arrives, but to be honest, and as I said before, I'd wait until the activation call. After all, you may want to request a small credit limit increase during the call?

Speaking of activation calls, you may find this checklist useful...

http://www.stoozing.com/forum/YaBB.pl?num=1194457781/5#5

skyrider007

YorkshireBoy wrote: »

If your account isn't fully open (until you activate the card) then the cheques may be bounced.

Hi YB

I just digged out my MBNA CC cheques from the bottom of my drawer. On the covering letter it states the following:

If you haven't already received your MBNA Credit Card, it will arrive within the next 7-10 days. It's being sent separately for security reasons. In the meantime, if you need to transfer any balances to your new MBNA Credit Card, you can use the cheques attached to this letter. Don't forget that if you use these cheques, you'll get the same rate as you do for balance transfer

Nite!

YorkshireBoy

I wasn't disputing what you were saying was correct skyrider007...merely expressing an opinion on what I'd do (maybe I'm too cautious?), and commenting what might logically happen.

Kaynem

Thanks for the help guys.

One more query... ive got a £2500 limit and would like to transfer the maximum i can out of the card, but i know i can't transfer 100% of my credit limit. Whats the amount i shall ask to be transferred? Is it 90% or 95% of the limit?

Appreciate the help.

Kaynem

YorkshireBoy wrote: »

Speaking of activation calls, you may find this checklist useful...

http://www.stoozing.com/forum/YaBB.pl?num=1194457781/5#5

Ill take note of that. Cheers.