MBNA Money Transfer Offer

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  • iwblue
    iwblue Posts: 120 Forumite
    First Post First Anniversary Combo Breaker
    Following this thread I've just checked my MBNA card that I've been using for 0% card purchases for and seen the Money Transfer offer. If I use the available credit on the MBNA to MT and then BT the same amount back onto MBNA will this be credited to my MT or the card purchase balance or both. I'm wondering if I'd need to BT the whole amount of MBNA balance (card purchases and MT) if that makes sense, to avoid the 4.9% on the MT?

    Thanks
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    First Anniversary Photogenic Name Dropper First Post
    Any payment, including BTs, goes to the highest rate balance.

    If balances are at the same rate, it will be as per the terms of your card.
  • Mogley
    Mogley Posts: 250 Forumite
    iwblue wrote: »
    I'm wondering if I'd need to BT the whole amount of MBNA balance (card purchases and MT) if that makes sense, to avoid the 4.9% on the MT


    I had the same dilemma 2 months ago. If you are trying to minimise the interest charges without a BT for the purchases, you're best doing the MT as close to the statement date as possible and do the BT after the statement date so that the payment gets allocated to the MT portion of your account.


    If you are planning on doing multiple MTs then it maybe easier to BT enough to clear the purchases too.
    You should pay attention to the needs of the moment - otherwise there is no future. But to ignore the future is foolish - living solely for the moment leaves nothing for when the next moment arrives.
  • TheShape
    TheShape Posts: 1,779 Forumite
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    Candyapple wrote: »
    You should have gone into a branch first to check and saved yourself the hard search. I've always done this whenever I have wanted another Lloyds/Halifax/BOS card, you can see on their screen what your rating is and what credit card limit they will give you and what cards and loan amounts are available.

    http://forums.moneysavingexpert.com/showthread.php?t=4866010

    Deposited a cheque into my Club Lloyd's account today. Asked about the possibility of a credit card and was told the system indicated I would be eligible with a £4000 limit. Didn't get to look at the screen as I was at the counter and there was a queue building behind me.

    How accurate is the indication and might the offer not be applicable to their 0% purchases card. Cashier did say the system indicated I am 'one of their best customers'. Have I got a 'special' code?
  • TheShape
    TheShape Posts: 1,779 Forumite
    First Anniversary Name Dropper Combo Breaker First Post
    TheShape wrote: »
    Deposited a cheque into my Club Lloyd's account today. Asked about the possibility of a credit card and was told the system indicated I would be eligible with a £4000 limit. Didn't get to look at the screen as I was at the counter and there was a queue building behind me.

    How accurate is the indication and might the offer not be applicable to their 0% purchases card. Cashier did say the system indicated I am 'one of their best customers'. Have I got a 'special' code?

    MSE eligibility checker shows a 0% chance of getting the card and the Lloyd's eligibility checker states that I'm not eligible. Do I trust the branch and make an application or trust the eligibility checker? Should I apply in branch?
  • MABLE
    MABLE Posts: 4,080 Forumite
    First Anniversary First Post
    TheShape wrote: »
    MSE eligibility checker shows a 0% chance of getting the card and the Lloyd's eligibility checker states that I'm not eligible. Do I trust the branch and make an application or trust the eligibility checker? Should I apply in branch?

    In my experience with Lloyds if you apply online and you are already a customer of said bank they do not normally do a hard credit search. Its only when you apply in branch for say a loan a hard search is done.

    So based on the above could be worth chancing it.
  • TheShape
    TheShape Posts: 1,779 Forumite
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    MABLE wrote: »
    In my experience with Lloyds if you apply online and you are already a customer of said bank they do not normally do a hard credit search. Its only when you apply in branch for say a loan a hard search is done.

    So based on the above could be worth chancing it.

    Thanks.

    I was likely to chance it anyway as my last Lloyd's application/rejection had not resulted in a hard credit search.

    MBNA are offering a fee-free money transfer again this month (@6.9%). If I get a decent balance transfer offer lined up I can take it and get it transferred away to 0%.

    I'm always unsure what to put when they ask what credit limit would be useful. With Halifax I entered £8000 and that's what I got. Would I have got £10K if I'd asked?
  • TheShape
    TheShape Posts: 1,779 Forumite
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    Successful application for the Lloyd's card with £6450 limit. MBNA Money Transfer to follow before month end.

    Will be able to push the stooz pot above £28k for the first time.
  • ceredigion
    ceredigion Posts: 3,709 Forumite
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    TheShape wrote: »
    Successful application for the Lloyd's card with £6450 limit. MBNA Money Transfer to follow before month end.

    Will be able to push the stooz pot above £28k for the first time.



    Hope you went through a cash back site, Worth £21 on TCB,
  • TheShape
    TheShape Posts: 1,779 Forumite
    First Anniversary Name Dropper Combo Breaker First Post
    ceredigion wrote: »
    Hope you went through a cash back site, Worth £21 on TCB,

    I did, only £20.20 though (£21 for Plus members I think).
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