Best credit card to transfer a positive balance to..?

Options
keiran
keiran Posts: 739 Forumite
First Post First Anniversary
in Credit cards
Hi stoozers,

I did post this in the stoozing subsection, but I don't think many people view those threads..


I just got a new Barclaycard with a balance transfer offer and I want to transfer such that I'll have a positive balance on another credit card, and then ask for that to be transferred to my bank account.

I'm aware that some companies will simply return monies to the source of funds, thus wiping out any possible gain and yet incurring the balance transfer fee.

I could transfer to the following cards - Capitalone, Santander, Amex, MINT or MBNA, with MBNA being the most suitable as it could be done in one transaction

What's the experience of fellow stoozers about which of these companies is likely to remit funds to my bank account?

Thanks
«13

Comments

  • Candyapple
    Candyapple Posts: 3,384 Forumite
    First Post First Anniversary Combo Breaker Intrepid Forum Explorer
    Options
    MBNA - yes
    Santander - no
    Amex - no

    No experience of Capital One.
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
  • noh
    noh Posts: 5,799 Forumite
    Name Dropper First Post First Anniversary
    Options
    MBNA definitely. I have just done this.
    I called them to transfer the credit balance to my bank account. You can also do it via secure message.
  • harriko
    harriko Posts: 121 Forumite
    First Anniversary Combo Breaker
    Options
    is there a fee to transfer a positive balance into a bank account from MBNA?
  • noh
    noh Posts: 5,799 Forumite
    Name Dropper First Post First Anniversary
    Options
    No fee to transfer a credit balance to your current account.
  • keiran
    keiran Posts: 739 Forumite
    First Post First Anniversary
    Options
    Just updating...

    Confirmed with MBNA that this was possible, and my request was agreed to in a "live chat" today.

    Straightforward process and no fees to transfer the positive balance to my bank account
  • Anthorn
    Anthorn Posts: 4,362 Forumite
    First Post First Anniversary Combo Breaker
    Options
    I've done it with MBNA but in connection with a direct debit: Set up direct debit and then pay off the card. The direct debit payment is still taken leaving a credit balance.

    It's also possible to have more than one MBNA card, 3 if we count affinity cards such as N & P.
  • harriko
    harriko Posts: 121 Forumite
    First Anniversary Combo Breaker
    Options
    I'm looking to get a MBNA card. Theres so many to choose from. Which ones offers to credit the balance into your account?
  • robbyfine
    robbyfine Posts: 69 Forumite
    Options
    Definitely MBNA!
  • planteria
    planteria Posts: 5,321 Forumite
    First Anniversary Combo Breaker First Post
    Options
    i would say MBNA too..
    keiran wrote: »
    ...with MBNA being the most suitable as it could be done in one transaction

    but what does this mean? the limit you have on the card won't matter:think:

    as it happens i did the opposite last month: MBNA>Barclaycard>Barclays:D
  • harriko
    harriko Posts: 121 Forumite
    First Anniversary Combo Breaker
    Options
    Will any MBNA card do? Theres lots of cards on their website.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608.1K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards