Possible Abbey Transfer Card beware?

MiserlyMartin

I just went into my local branch to apply for one of these 9 months interest free cards mentioned in last weeks email. Its supposed to be no fees for balance transfers if you apply in the branch. So I asked about the fees. They showed me a summary of the t's&c's which said "A transfer fee MAY apply". I said 'may' is not good enough. I need confirmation that there are no fees.

They couldn't even give me a full copy of the T's&C's because they don't have them. I was told you couldn't get them until you have applied. Something to do with it being MBNA not Abbey.

Has anyone else had this problem? I might try a different branch.

Clariman

MBNA's Ts & Cs have said that they "may" charge for BTs for a long time. At least 18 months. This is normal. Generally, they do not charge during the intro period when the wording says "may". Most MBNA cards changed to "we will" charge for BTs earlier this year, so if the Ts & Cs they showed you say "may" then that is goodness.

I'd apply for it if you want it. Take a couple of precautions though.

1. When you received the Ts & Cs read them thoroughly. Look for the word "may" instead of "will" charge.

2. When you want to do a BT, call them up to do it and check that there will be no charge.

Clariman

johnmoney05

yes, agree with the above post. Just apply it, then make sure they don't charge the BT fee by asking the advisor when you do the BT on the phone. They will tell you.

MiserlyMartin

OK thanks. I will apply. I was thinking of applying for another card too as a backup which definately does not have a BT fee. Problem is with this other one is that I only recently closed an old card with this group which if why I wanted the Abbey card preferably. But if Abbey turns out to be unuseable I will need to fall back on the other card and I only have four weeks to sort it all out.
So my new question is: If I apply for the backup card now online (I.F.) to save admin time, will a search come up then, or only when I return the signed application?

YorkshireBoy

MiserlyMartin wrote:

If I apply for the backup card now online (I.F.) to save admin time, will a search come up then, or only when I return the signed application?

As soon as you hit the "submit" button!

By the way, with the way things are going at MBNA these days I'd assume you can't avoid the BT fee. If you've not actually made the Abbey application yet (your first post doesn't make it clear), you might want to consider A&L who cap their BT fee at £35 - not £50 as Abbey do.

Finally, with only 4 weeks to go, you really need to get a move on with whatever you apply for!

Walletwatch

I did a balance transfer to my Abbey card two months back, and my wife did one this month, on both occasions, they did not charge anything, if that helps.

MiserlyMartin

Yes I know, I know! I did go into the branch last week as above but did not proceed with the application because the staff could not supply me with the T's & C's until after I applied! They did say they would phone MBNA who would send me them in the post so far nothing has arrived and Abbey also said they would phone to confirm it has been sent out. OK seeing as my only other choice is Halifax/I.F. and I only recently closed a card with them I will go with Abbey in branch on Monday morning and hope BT fees are still not chargeable. Cheers guys.

Is it me or is stoozing getting more difficult these days?

ivan_drago_2

I went into an Abbey branch in Cambridge today and asked them to clarify under what conditions a balance transfer fee may or may not apply. After the assistant phone someone in the credit card section, I was told that for balances transferred from Virgin credit cards, no fee would apply. For balance transfers from all other cards, a fee would apply.

YorkshireBoy

ivan_drago wrote:

I was told that for balances transferred from Virgin credit cards, no fee would apply. For balance transfers from all other cards, a fee would apply.

The assistant/whoever they were on the phone to was talking nonsense.

It's highly unlikely you'd even be accepted for an Abbey card if you already had a Virgin card. Even if you were successful in getting the Abbey card, because Abbey & Virgin are both run by MBNA they will not let you BT between them.

Smitty

YorkshireBoy wrote:

As soon as you hit the "submit" button!

If you've not actually made the Abbey application yet (your first post doesn't make it clear), you might want to consider A&L who cap their BT fee at £35 - not £50 as Abbey do.

Just to let you know

I paid off my Abbey 9mths 0% in May and I just did a deal for another 0% until April 06, they capped the BT fee at £35 and let me put the money direct into my c/a.

I did use an 'offer code' they sent me via the post a month ago.

Former_MSE_Dan

Yorkshire_Boy wrote:

If you've not actually made the Abbey application yet (your first post doesn't make it clear), you might want to consider A&L who cap their BT fee at £35 - not £50 as Abbey do.

Unfortunately not any more, they raised it when they officially announced BT fees for new customers last week

Taken from A&L summary box
2% handling fee (min.£2.50, max.£50) on: credit card cheques and balance transfers.

For details of BT cards without a fee, see this article http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1122985312,39518,