MBNA Credit Card Cheques

Aug 31, 2003 3 Replies
D

Just opened a new MBNA account which has a 9 month 0% APR deal - I don't need to use it for balance transfers but do intend generating some extra dosh by putting the whole of the credit limit into a cash ISA and then the balance into an ING account. However, the only way I can do this is by using a credit card cheque. Does anybody know / had any experience of using a CC cheque in the intro period with MBNA - do they charge the normal fees of min 2 max 30 whilst in an intro period? Bottom line, I'm still going to make money out of the deal however, be nice to know if it'll be 30 more cause I don't pay the CC cheque fee.



TIA


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D

Do they? And they won't consider it a cash advance? Interesting.........I'll check it out tomorrow. Cheers.

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D

Thanks for this - I've now consolidated my previous two MBNA accounts with the new account and given myself a combined credit limit of 13,000. With this I've paid off my 24 month loan 9 months early, saving 226 interest, stuck 3,000 into my newly opened ISA (4.1% AER) and the balance of 7,700 into my recently opened ING Direct account (4.1% AER) - all due for repayment on 19 May 2004!

Thank you MBNA!

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A

That's a pretty good wheeze. I thought interest on MBNA CC cheques accrued from the date of the cheque, rather than the end of the ~56 day payment period though (and would therefore not expect the 0% intro rate to apply either)

Best Regards, Alex.

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