Balance transfer - 1.9% for 12 months - NO BALANCE TRANSFER FEE - @ MBNA - HotUKDeals
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Balance transfer - 1.9% for 12 months - NO BALANCE TRANSFER FEE - @ MBNA

£0.00 @ MBNA
MBNA are offering you an exclusive website offer apply now and receive a 1.9% rate on balance transfers and money transfers for 12 months with no handling fee! 1.9% on balance transfers for 12 mo… Read More
sbfc Avatar
7y, 10m agoFound 7 years, 10 months ago
MBNA are offering you an exclusive website offer apply now and receive a 1.9% rate on balance transfers and money transfers for 12 months with no handling fee!

1.9% on balance transfers for 12 months (No handling fee). For this great rate your balance needs to be transferred within the first 90 days of opening your account♠
1.9% on money transfers from your credit card to your current account for 12 months. Remember for this great rate you need to transfer money within the first 90 days of opening your account (No handling fee)
15.9% APR typical rate (variable)
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#1
Wish they'd offer 1.9% for existing customers. Had a letter yesterday offering six months with 4% fee.
#2
Sorry mate it states clearly under the main ad that there IS a 2.9% handling charge on balance transfers :)
#3
moosehound
Sorry mate it states clearly under the main ad that there IS a 2.9% handling charge on balance transfers :)


:?

Where??

http://www.mbna.co.uk/images/touchclarity/no-balance-transfer-fee-credit-card-560x166.jpg
#4
moosehound
Sorry mate it states clearly under the main ad that there IS a 2.9% handling charge on balance transfers :)


There is no balance transfer fee - please read it properly before posting..thanks.
#5
Whoa! I swear to god it had a different picture before... it said 2.9% in real small letters under the image.. I will look in my internet cache :)
#6
I don't know why this isn't stonkingly hot! £5000 loan for the cost of £100 for the year.

I applied and got £6000 limit which is great. You won't get cheaper borrowing than this ever (just make sure you can pay it back in the year).

Just don't forget, [COLOR="Red"]DO NOT SPEND ON THE CARD IF YOU HAVE TRANSFERED ANY MONEY FROM IT OR TO IT!!!![/COLOR]
#7
If you dont pay it back within the 12 months do the cc company charge you interest on the full amount you transferred..? or just whats left on the balance..?thanks.
#8
jellybaby1969
If you dont pay it back within the 12 months do the cc company charge you interest on the full amount you transferred..? or just whats left on the balance..?thanks.


Just whats left on the card after the 12 months - so pay off as much as you can in the first 12 months or transfer to another card
#9
With MBNA you can get a super balance transfer which means they put the money into your bank account instead of paying off another card - meaning you could use this as a very low interest short term (12 months) loan.
#10
May have to apply for one of these.:thumbsup:
#11
Superb deal, thanks for posting. Cheers! :)
#12
Sorry if this is a daft question, so it that 1.9% for the 12 months or 1.9% each month for the 12 months?
#13
I think moosehound was looking at this

http://ak.bluestreak.com//adv/mbna-/%5E10825/%5E7418710/m0302_platrewardsnew_575x152.jpg

Who do MBNA do cards for? As aren't they a meta-credit company for other high street banks?

I am wondering whether I have one already with another name.
#14
MBNA do loads of cards some of them are - Virgin, Alliance and leicester, Most of the football team cards, Some of the charity cards
#15
So as I'm already taking advantage of a virgin card I would not qualify for this?
#16
I've been waiting for a no balance transfer fee card to come along. But this also has a very low rate too. Best of both worlds :thumbsup:
#17
cheapo
So as I'm already taking advantage of a virgin card I would not qualify for this?


How long have you had the virgin card for? you can still get the mbna card but you cant transfer a balance between the 2.......But you can transfer the balance to your current account and they wont know if you use that to pay off your virgin card - when the virgin card is paid off you can also transfer the credit limit from the virgin card to the new MBNA card.
#18
Cheers OP been looking for a good balance transfer deal. Just applied on-line and got approved with a £13500 limit :w00t:

Anyway I also have a Virgin card, but didn't seem to be a problem.
banned#19
Just got confirmation of a nice chunk of cheap money transfered into current account. I had a phone call to clear up a descrepency and the guy knew exactly how many MBNA cards I have. He was not bothered at all and money will be in my account within 7-10 days. At 1.9% for 12 months it's rude not to.
#20
cheapo
So as I'm already taking advantage of a virgin card I would not qualify for this?



Yes, that’s correct

http://uk.virginmoney.com/virgin/credit-cards-v3/faq.jsp

" Also, as the Virgin Credit Card is issued by MBNA, remember you can't transfer a balance from another credit card issued by them. "

In addition if you are going to apply for credit cards with promotional rates make sure you set up a direct debit immediately as if a payment is late by as little as one day you will lose the 0 % promotional interest rate and will have to pay standard interest rate of 17.9% p.a. variable (a year) and as a bonus will be billed a default charge of £12. Even though its 0 % interest you still have to make payments


https://wwwa.mbna.co.uk/apply/UKCCapp/Ctl/link?eid=211F226F

Terms and conditions

"Please note that no promotional offer interest rates will apply during
any statement period in which you are over your credit limit at any time;
or at any time from the beginning of a statement period in which you
have otherwise breached this agreement. If you have breached this
agreement, the promotional offer interest rates will not apply again."

Beware also the 0% on card purchases for 3 months as the payment allocation is setup so that any payments you make go towards paying off the larger balance transfer amount first, which could take a while and your card purchases will be accumulating lots of lovely interest for MBNA in that time.
#21
I think is no longer available :x

|Kazan|
#22
Kazan
I think is no longer available :x

|Kazan|


Yes it is - try again
#23
WaftyCranker
Yes, that’s correct

http://uk.virginmoney.com/virgin/credit-cards-v3/faq.jsp

" Also, as the Virgin Credit Card is issued by MBNA, remember you can't transfer a balance from another credit card issued by them. "

In addition if you are going to apply for credit cards with promotional rates make sure you set up a direct debit immediately as if a payment is late by as little as one day you will lose the 0 % promotional interest rate and will have to pay standard interest rate of 17.9% p.a. variable (a year) and as a bonus will be billed a default charge of £12. Even though its 0 % interest you still have to make payments


https://wwwa.mbna.co.uk/apply/UKCCapp/Ctl/link?eid=211F226F

Terms and conditions

"Please note that no promotional offer interest rates will apply during
any statement period in which you are over your credit limit at any time;
or at any time from the beginning of a statement period in which you
have otherwise breached this agreement. If you have breached this
agreement, the promotional offer interest rates will not apply again."

Beware also the 0% on card purchases for 3 months as the payment allocation is setup so that any payments you make go towards paying off the larger balance transfer amount first, which could take a while and your card purchases will be accumulating lots of lovely interest for MBNA in that time.


But as I have said previously you can get it transfered into your current account rather than another credit card and pay off what ever you like :thumbsup:
#24
sbfc
Yes it is - try again


Can you please give me direct link as I can't find it :x
Thanks.

|Kazan|
#25
Kazan
Can you please give me direct link as I can't find it :x
Thanks.

|Kazan|


https://wwwa.mbna.co.uk/apply/UKCCapp/Ctl/entry?sc=8pt48btz1_ost&mc=ECO-UK-33333-12034
#26
I have a Virgin CC with £25k limit. They have accepted my application but wanted to split the £25k between the two cards - I agreed.

Also be very aware that they will try to advise you there is a 4% transfer fee - I had to refer the operator to the website offer! She then said there is NO transfer fee :-)

Very Happy
#27
Lyrrad
Just got confirmation of a nice chunk of cheap money transfered into current account. I had a phone call to clear up a descrepency and the guy knew exactly how many MBNA cards I have. He was not bothered at all and money will be in my account within 7-10 days. At 1.9% for 12 months it's rude not to.


So you have instigated the transfer to your current account before actually receiving the card etc...? If so, I think I'll give them a call to do this for me!
1 Like #28
Megalo
So you have instigated the transfer to your current account before actually receiving the card etc...? If so, I think I'll give them a call to do this for me!


Yes you can do this
1 Like #29
Nice one sbfc. Rep added ;)

Done and done. 5-7 business days it takes for the money to arrive in your account! If you say you want to transfer a balance on your application, and you are accepted, then the money will automatically be winging its way to your account!
#30
THe MBNA website says that the monthly rate ofter the 0% period is 1.2408%

This is an annual rate of 15.9489% yet the site incorrectly claims they will charge an annual rate of 15.9%.. It also says they will charge 15.9%APR and this is coorrect

Dishonest? Yes because the figure of 15.9489... is as high as you can get and still round the annual trate to one decimal place (allowed by statute) and get 15.9%APR and the calculation to do this is devious and this is no accident.

The %APR is not the annual rate that you will be charged. The banls want you to believe this so they can continue this scam.
#31
Pelham9
THe MBNA website says that the monthly rate ofter the 0% period is 1.2408%

This is an annual rate of 15.9489% yet the site incorrectly claims they will charge an annual rate of 15.9%.. It also says they will charge 15.9%APR and this is coorrect

Dishonest? Yes because the figure of 15.9489... is as high as you can get and still round the annual trate to one decimal place (allowed by statute) and get 15.9%APR and the calculation to do this is devious and this is no accident.

The %APR is not the annual rate that you will be charged. The banls want you to believe this so they can continue this scam.


I think you mis understand - the ANNUAL rate on the balance transfer offer is 1.9% - I for one dont care what the rate is for spending on the card as I wont be spending on the card (although i believe that 15.9% is competitive)
#32
No I have not misunderstood this thread - nobody in their right mind pays interest to credit cards at the 'standard' rate. This offer is little use for stoozing with present low savings rates but it could be very useful for thise who are paying high interest rates elswhere or want a short term loan

The standard rate for borrowing on the card is not 15.9% but 15.9489%.. You have missed the whole point of my post..
#33
Pelham9
No I have not misunderstood this thread - nobody in their right mind pays interest to credit cards at the 'standard' rate. This offer is little use for stoozing with present low savings rates but it could be very useful for thise who are paying high interest rates elswhere or want a short term loan

The standard rate for borrowing on the card is not 15.9% but 15.9489%.. You have missed the whole point of my post..



No I think you missed the whole point of my post - it doesnt matter what the standard rate is because we are not going to pay it.
#34
I have not missed your point but I think you are missing mine..

This account has a interest rate they say of 1.9% annually. I am simply pointing out that they will not charge that rate but will set their monthly rate so that the annual rate is as near to 1.949999% as possible so that that the %APR is 1.9%.

They will charge 1.6106% monthly. An annual rate of 1.9% is 1.56697% monthly.
You will pay nearly 6% more interest than you expect..
banned#35
Pelham9

They will charge 1.6106% monthly. An annual rate of 1.9% is 1.56697% monthly.
You will pay nearly 6% more interest than you expect..


You mean 0.16% monthly

I see where your coming from but it's still cheap. I'm offseting a Barclays mortgage with it for 12 months.
#36
Im a bit confused by this offer.
If you read the pdf Here it states the annual rate as 1.9% but the monthly rate as 1.5274%.
I think the key is it doesnt state 1.9% per annum

I'm no expert but it does seem to be a bit ambiguous
banned#37
steadyeddie
Im a bit confused by this offer.
If you read the pdf Here it states the annual rate as 1.9% but the monthly rate as 1.5274%.
I think the key is it doesnt state 1.9% per annum

I'm no expert but it does seem to be a bit ambiguous




You need to look here https://wwwa.mbna.co.uk/apply/UKCCapp/Ctl/entry?sc=8pt48btz1_ost&mc=ECO-UK-33333-12034 then click on

Want to see our rates explained? – Click here for an explanation


Page 2 point 2c. The rate is 1.9% p.a


I believe (but am happy to be corrected) that the full APR is quoted against transactions like this so if you miss a payment they can revert back to the higher rate rather than the offer rate. It is imperitive that a payment is made on time each and every month. It is strongly advised to set up DD for minimum payment at least each month to over come this issue.
#38
Pelham9


They will charge 1.6106% monthly. An annual rate of 1.9% is 1.56697% monthly.
You will pay nearly 6% more interest than you expect..



No your still wrong - its 0.16106% per month meaning 0.06% more interest that you expect.
#39
I presume you can't transfer balances from other MBNA cards? Pity, as they run all the cards I owe money on. Still, a good deal for those who can use it.
#40
Can't you have money transferred to your bank account and then just pay the other cards off?

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