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Discussion Starter · #1 ·
OK, just a quick one, I have about 1.5K of credit card bill which I want to transfer, as at the minute I'm paying interest and no-one else is.

So, are MBNA thieving shysters? They seem to be offering a long time at 0%, then a fair while at 15.9%, I was planning to transfer after 12 months if I've not bothered paying it off by then.

One thing I've not found so far is a phone number where I can ring up and ask questions. But then most companies don't seem to have that these days.

Opinions?

Digs.
 

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Discussion Starter · #5 ·
No further purchases planned at all. I have plenty of overdraft I can use, but could do with a few months off interest from my thieving bastard Natwest card. Obviously Natwest are the thieving bastards in that sentence, not me, otherwise I wouldn't need a credit card. I could just steal things.

Looks like 3% transfer or something. I suppose they have to tell me somewhere along the way.

No-one got a phone number for them? They make some amusing claims - "We're always on hand whever you need us via our Freephone customer satisfaction helpline" the number for which I can't find anywhere on their literature or website.

Digs.
 

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Brittlestar Galactica
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419 Posts
Virgin money are doing 0% pa on balance transfers for 15 months at the moment.

I'm thinking of moving mine to them instead of paying egg loads of interest.
 

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under T and C's.

0800 062 062


Since I don't work for 'em anymore (indirectly), if you balance transfer and then spend on the card, it can get very expensive, as the way the software for the cards work is any payments to pay off the credit plans with the cheapest interest rates first. Too complicated to post here.

So best way is to either have 2 seperate cards, one for balance transfers and another for purchases.

Balance transfers, I would suggest Virgin card anyway. They're not so thieving!

Been there, learnt to live within my means. :)
 

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There are loads of 0% balance transfer rates around, just search for credit cards and apply on line, they give you the transfer rate and the length of the o% rate. Why do you need a phone number.

I have been a "rate tart" for the last few years, unfortunately now they don't want to know - something about needing an income :)

Moneysavingexpert

Virgin Money, 15 months 0% 2.98% transfer rates seems to be OK to me.
 

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To dive or not to dive - that's not even an option
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There are loads of 0% balance transfer rates around, just search for credit cards and apply on line, they give you the transfer rate and the length of the o% rate. Why do you need a phone number.

I have been a "rate tart" for the last few years, unfortunately now they don't want to know - something about needing an income :)

Moneysavingexpert

Virgin Money, 15 months 0% 2.98% transfer rates seems to be OK to me.
A lady after my own heart!

I use this site all the time and it is excellent for news and review, must have saved a fortune with it.

As mentioned in a previous post, do not under any circumstances spend on anything that attracts interest if you have a 0% deal or transfer. I used the wrong card by mistake to withdraw some cash and ended up having to pay off the full balance or face paying interest on the amount I had withdrawn for the next year - easy come, easy go :teeth: .

James
 

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YDs Most Southerly Monkey
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There are loads of 0% balance transfer rates around, just search for credit cards and apply on line, they give you the transfer rate and the length of the o% rate. Why do you need a phone number.


Moneysavingexpert
Doublebastard!

Tried www.moneyexpert.com.au on the off chance and got

"Welcome! This site is new and will have content shortly."
 

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Be careful with MBNA balance transfers. Many (if not all) of their cards have a monthly payment of £5, not the usual 2-3% subject to a £5 minimum, a straight £5 per month. So on your 0% balance you will only clear £60 during the year which with a 3% transfer charge means that any balance of over £2,000 means you will owe more at the end of the year than you started with (£2,000 * 3% = £60 in charges).

I have a client who had a £14,000 balance transfer and was paying £5pm and didn't believe them until they showed me the statement, got home and checked mine (which I don't do often :embarassed: ) and it's true.

If you take one, you MUST pay more than the minimum payment and they don't allow you to do it automatically. Set up a standing order with your bank if you want or if you have the discipline pay extra amounts manually.

Arfie
 
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