MBNA & virgin increased 0% balance transfers to 18 months & Barclaycard to 20 months!!! - HotUKDeals
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MBNA and Virgin yesterday increased the 0% duration on its balance transfer Platinum card from 16 to 18 months!

While Barclays raised the bar to 20 months!! Best deal ever on balance transfers!
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TheRealMcLovin Avatar
6y, 2m agoFound 6 years, 2 months ago
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#1
MoneySuperMarket Review:

This is one of the market-leading cards for balance transfers, offering zero per cent interest for a generous 16 months as long as your transfer is made within the first 60 days ... Read moreof obtaining the card. Balance transfers are, however, subject to a handling fee of 2.9%.

Cardholders also benefit from 3 months of interest-free purchases. After the introductory interest-free period is up, the card has a typical APR of 16.8%. You may be offered a much higher APR of 24.9% depending on your individual circumstances and credit history.

If you do use the card for purchases and don’t pay these off during the introductory period, then the good news is that MBNA have adopted a positive payment hierarchy. This means that the most expensive debt is paid off first rather than the cheapest. However, you should try to use this card for balance transfers only so that you avoid racking up more debt.

You should also avoid using the card to make cash withdrawals, as interest on these is charged at 27.9%. You must be aged 18 or over and a UK resident to apply for the card. The card, which has no annual fee, comes with paperless statements, so you will need to sign up for online banking.


Good card if you want to tart on it, which is what I'm doing on my Tesco Clubcard CC + Savings.

http://www.moneysavingexpert.com/cards/
+
http://www.moneysupermarket.com/credit-cards/



Edited By: schizoboy on Sep 23, 2010 16:36: MS
#2
Got 16 months with barclays.
1 Like #3
word of warning with this: if you have another card that is underwritten/issued by MBNA under a different name i.e Virgin then you won't be able to take advantage of this offer.

Just a heads up :)
#4
Make sure you don't miss a payment, else they'll smack you onto a super high interest, like 26.7%, like they did to me cus i was 1 day late setting up the direct debit. They later tried to hike it up to 35%, but I declined and now the card is inactive. I would personally avoid as the potential risks are too high, must be other deals almost as good with banks who are less keen to completely screw you over at the first opportunity.
#5
HANDLING FEE MEANS ITS NOT 0% THEN!!!

THIS PRACTICE SHOULD BE OUTLAWED
#6
Just applied for this. But yes - HEED THE WARNING! I got stung pretty bad when I missed the first payment of a previous card because of the direct debit process. Will be the very first thing I sort out!
#7
NitrousUK
Make sure you don't miss a payment, else they'll smack you onto a super high interest, like 26.7%, like they did to me cus i was 1 day late setting up the direct debit. They later tried to hike it up to 35%, but I declined and now the card is inactive. I would personally avoid as the potential risks are too high, must be other deals almost as good with banks who are less keen to completely screw you over at the first opportunity.

I have a santander card with 14 months and they seem pretty darn good. their online account isn't the most user friendly but it does the job if i just want to check the balance.
#8
Mr-Smooth
word of warning with this: if you have another card that is underwritten/issued by MBNA under a different name i.e Virgin then you won't be able to take advantage of this offer.Just a heads up :)

Seconded. I changed from Virgin to AA and got caught out by this. MBNA 'own' 100, yes, 100 credit card companies :-/
I couldn't be bothered with rigmarole of getting yet another card so I transferred money from the card to my bank account then used that money to pay off the balance of my old Virgin card and got 0% that way as it counted as a 'purchase'. So it cost me 4% rather than 2.9% handling fee but it's done now so I can be more wary next time I change.
Phew.
#9
I have a santander card with 14 months and they seem pretty darn good. their online account isn't the most user friendly but it does the job if i just want to check the balance.

Just tried applying for one of these but the site is refusing to accept sort codes form existing bank accounts when setting up payment details. The phone number for "help" goes to a line that demands you insert your 16 digit credit card number (before you get to the accepted/declined page!). Not filled with confidence...

MBNA/Virgin are sneaky, but they do give a good offer.
#10
royals
HANDLING FEE MEANS ITS NOT 0% THEN!!!

THIS PRACTICE SHOULD BE OUTLAWED


Standard practice, never seen a CC without a % fee in transfers.
#11
cc used to not have a handling fee, it is really in the last 6 years or so since people started credit card tarting as some credit cards like capital one did 0% for bank transfers, and that stanley morgan or who ever it was ( i only remember due to the advert where they were retiling and used the card to wipe grout from the tiles).

the handling charge has slowly crept up to the 3% and in some cases 3.5% mark.
#12
just turned me down on a balance transfer :(
#13
i got sick of jumping from card to card with all the fees so lumped the whole lotta mine on a 6.9% lifetime balance card.

Now though, tempted to spend on the blank cards i consolodated!
#14
schizoboy
royals
HANDLING FEE MEANS ITS NOT 0% THEN!!!

THIS PRACTICE SHOULD BE OUTLAWED


Standard practice, never seen a CC without a % fee in transfers.


I was looking early and found what could have been a great deal.

Northern Bank offer a credit card with 0% on BT and Purchases for 5 months and a 0% fee for BT's.

Only catch being you have to be a permanent resident of Northern Ireland. Great if you live there but eliminating most of the UK straight away!
#15
NOT REALLY 0% IS IT
#16
PO89 - That is incorrect - The balance transfer fee DOES NOT ACCRUE INTEREST. Do not post incorrect information.
#17
Plus, everyone, not just MBNA are changing the way payments are paid. They dont have the choice not to pay off the highest interest rate first
#18
Mr-Smooth
word of warning with this: if you have another card that is underwritten/issued by MBNA under a different name i.e Virgin then you won't be able to take advantage of this offer.

Just a heads up :)


This is not true! One cannot balance transfer between two MBNA issued cards, but nothing stops one from holding more than one MBNA card. I have Virgin, MBNA and A&L credit cards and all of them are issued by MBNA - all managed using the same internet banking login too, by adding each account seperately!
#19
mervinsx
Mr-Smooth
word of warning with this: if you have another card that is underwritten/issued by MBNA under a different name i.e Virgin then you won't be able to take advantage of this offer.

Just a heads up :)

This is not true! One cannot balance transfer between two MBNA issued cards, but nothing stops one from holding more than one MBNA card. I have Virgin, MBNA and A&L credit cards and all of them are issued by MBNA - all managed using the same internet banking login too, by adding each account seperately!

What he was saying is TRUE.
He did not say you would not be able to get the card if you had another MBNA card.
He was saying you would not get the 0% deal with it.
#20
Firefighter999
mervinsx
Mr-Smooth
word of warning with this: if you have another card that is underwritten/issued by MBNA under a different name i.e Virgin then you won't be able to take advantage of this offer.

Just a heads up :)


This is not true! One cannot balance transfer between two MBNA issued cards, but nothing stops one from holding more than one MBNA card. I have Virgin, MBNA and A&L credit cards and all of them are issued by MBNA - all managed using the same internet banking login too, by adding each account seperately!


What he was saying is TRUE.
He did not say you would not be able to get the card if you had another MBNA card.
He was saying you would not get the 0% deal with it.


No, it's not TRUE. The reason why I have three cards (Virgin, MBNA and A&L) is because I got 0% deals on all of them. No deception of any kind, they were all applied by me, in the same name and address - not all of them at the same time though.

Also, on my Virgin card - once the 0% deal was finished, I was notified a further 9 months deal on 0% - this usually comes up in the promotions tab when using online account management. So I paid off the balance and carried out a fee-less balance transfer again! I say, there is cheap credit still available :)

Edited By: mervinsx on Sep 24, 2010 08:58: more information
#21
schizoboy
royals
HANDLING FEE MEANS ITS NOT 0% THEN!!!

THIS PRACTICE SHOULD BE OUTLAWED


Standard practice, never seen a CC without a % fee in transfers.


I have had a couple in the past. However, haven't seen any for years now.

The previous poster is correct though, it isn't really 0% when you factor in the handling fee's. They should be forced to include the total cost in the headline figure as there is no way of avoiding the handling fee.
#22
Also, the 2.9% transfer fee is miniscule compared to the standard rates that are paid on most credit cards, so will save some people a packet!
#23
I think what he means is you cannot transfer the balance from say virgin to the new MBNA card to get 0%
#24
Mentos
schizoboy
royals
HANDLING FEE MEANS ITS NOT 0% THEN!!!

THIS PRACTICE SHOULD BE OUTLAWED


Standard practice, never seen a CC without a % fee in transfers.


I have had a couple in the past. However, haven't seen any for years now.

The previous poster is correct though, it isn't really 0% when you factor in the handling fee's. They should be forced to include the total cost in the headline figure as there is no way of avoiding the handling fee.


They can't include the total cost because it depends on how much you trasnfer. Thats why they give a % figure.
#25
They will allow you to pay only £25 per month with £4000 transfer. Quite irresponsible!!
#26
schizoboy
royals
HANDLING FEE MEANS ITS NOT 0% THEN!!!

THIS PRACTICE SHOULD BE OUTLAWED


Standard practice, never seen a CC without a % fee in transfers.


Got a fee free 0% from Santandar when setting up an alliance and Leicester current account back in Feb. Dunno if this is still available? (12 month 0%)
#27
i applied for this card recently but got turned down because as they put it i did not have enough credit taken out

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