What is the interest rate after the 12 month period?
For the MBNA Platinum Plus, the interest rate on purchases is always 19.99%, 21.99% on cheques and 24.99% on cash advances. For the first 12 months, the card charges no interest on balance transfers made in the first months of ownership. After 12 months, the interest on any remaining balance increases to 21.99%. However, some have managed to get extensions on this promotion, or had chosen to transfer their remaining balance to another low rate (if even introductory) credit card, other than MBNA’s, like the ones listed here. If you need any more guidance, we’re here to help. Thanks for the comment.
What if one has 3 other credit cards that total $6800, would they be able to get a credit card totaling this to get rid of the those other credit cards?
Hi Sylvia, thanks for your great question.
What you’re referring to is called debt consolidation, and it’s not only possible, but recommended for many in your situation.
Multiple cards with different interest rates, benefits, credit limits and all else can be hard to manage. Basically, you just want a credit card that allows you to transfer all of your current balances to it. The MBNA Platinum Plus can do this. All balance transfers made within the first 90 days of membership benefit from the 0% interest rate for a year, and multiple transfers are allowed, as long as they do not exceed the credit limit that MBNA approved. Call MBNA and double-check, but we think this is a very suitable option for you. Good luck!
Absolutely! As long as it does not exceed your credit limit! But I doubt they’d refuse you! Just be sure to have a solid plan to pay it off within 12 months! If you’re unable to pay $570 per month (or $285 bI-weekly), make sure to either
1) Have a plan in place to pay remainder of what’s owing ….to avoid high interest charges after the 12 months., or
2) Only do the balance transfer for the amount you can commit to paying AUTOMATICALLY for 12 months!
Yes get MBNA the best card I ever had!
My credit is not that good.. Because of credits cards.. Do I still have an eligibility? But always payments on time. Just almost at their limits because of interest.
Hey Martin, thanks for your question. MBNA looks at each applicant for the Platinum Plus card on a case-by-case basis. By design, the card is best for those who have troublesome outstanding balances, which also means that it is likely that their credit is also weaker. If you have a history of paying on time, we recommend that you fill out an application online or call customer service and begin today. Good luck tackling your debt!
I declared Bankruptcy January of 2010. I currently have a $5,000.00 balance on a Capital One MasterCard I would be transferring and will cancel my existing card. Would I be eligible for this card?
Hi Karine, thanks for your comment and for describing your situation. Bankruptcy may alter your chances of being accepted, but MBNA determines eligibility for the Platinum Plus on an individual basis. While they may welcome some previously bankrupt applicants, others may not be approved. It depends on several factors, like your credit score and financial history, but we always recommend that our readers apply anyway. Typically, MBNA does not behave as strictly as some believe. We also recommend that you check out this article: http://www.greedyrates.ca/blog/repairing-credit-after-bankruptcy/
With the tips here, you can work more efficiently to repair your credit, hopefully using the Platinum Plus to do so! Good luck.
I intend to settle the invoice when due and do not owe any money. Would that be fine for this card?
Hi Tony, thanks for your question. If you’re planning on paying an invoice with the Platinum Plus, you should know that it will accrue interest. The 0% rate applies only to balances transferred from another card within the first 90 days of owning the Platinum Plus. If you meant that you will be paying your monthly balance each month when it is due, there are much better cards out there for you. This credit card is for people who intend to carry their transferred balance from month to month and doesn’t provide much incentive beyond this. If we didn’t understand your question, just leave another comment and we’ll try again. Thanks!
I hae a few credit cards that I would like ti get rid off asap. Can you let me know what is usually the limit on this card?
Hi Kelly, thanks for your inquiry. This is one that we get all the time, but unfortunately we can’t provide an exact answer. For each application, MBNA looks at your credit score, existing balances and financial history to determine if you’re eligible and what your credit limit will be. Even given this exact information, we still wouldn’t be able to provide an accurate guess. Typically this issuer is lax when looking at Platinum Plus applicants, because the card is designed for helping those with weaker finances. We suggest you apply and find out for yourself. Best of luck!
So how one can get extensions on the promotion with less interest rate ?
Hey Muhammad, thanks for your question! Typically, MBNA has had no problem with offering their more responsible customers an extension of the 0.00% promotion. While it may not be another full year at 0.00%, we’ve seen some readers get anywhere from 0.99% to 2.00%, but you must call in and ask. Being able to show responsible payment of your balance will help immensely. Good luck!
We came out of a consumer proposal 1.5 years ago. Can we apply and get a card?
Hey Sandra! Congratulations on being released from your consumer proposal – we’re sure it’s a weight off your shoulders. MBNA makes the Platinum Plus for customers exactly like you: those who need a helping hand to push their finances forward. They usually approve applicants from all different backgrounds, from bankruptcy, handfuls of debt, and other tough situations. We think you have a chance and should apply regardless, because even a failed application is just a temporary disadvantage for your credit report. Before applying, you should do some more research and determine if the card is really what you need. For large balances that are currently accruing interest, it works well, but for building credit and repairing your finances there are better options. There are a variety of secured credit cards listed on our site that could be great as well, so check out both and let us know if you have any additional questions. Thanks again!
Would this card be for bruised credit and a low credit score?
Hey Shelley, thanks for leaving your comment with us at Greedyrates. For people with weaker credit and a low score, MBNA does not judge too harshly and may approve you for a lower balance. This could work for you if you’re trying to make progress on paying down debt, but high interest rates are stopping you. For repairing your credit, there are better options. We recommend you do some reading on the Home Trust Secured Visa card, which will help you get access to safe credit and show the bureaus that you’re making headway. Home Trust will approve you no matter how low your score, and with a little hard work will help you reestablish your good standing. Best of luck!
The MBNA card is really great. I got it over a year ago. It is really 0% for a whole year. The only problem is that, after a year, there’s no reward to keep using it. So, I don’t! I’m back using my Wal-Mart or PC Financial card, which pay me back 1% + ON ALL my purchases!
What is the interest rate on the walmart and pc cards if you don’t mind me asking
What happens if you got discharge from bankruptcy last year, do youi approve someone with such a credit history?
Hey Marie, thanks for your great comment. For customers who were recently discharged from bankruptcy, there is a chance that MBNA will approve their application. The process for approval works on a case by case basis, so if you’re able to show responsible behaviour since your bankruptcy, it would definitely help your case. We have seen other readers with prior bankruptcies get approved, and think you should give it a shot as well. Good luck!
once we transfer our balance into this card can we still use the other credit cards the balance jus being transferred from?
Hi Fluff, thanks for the comment! When you transfer a balance from your other credit cards to the Platinum Plus, it does not mean that you must cancel them. You’re simply increasing your total credit limit, and moving money to a place that is sheltered from high interest. It is possible to continue using your old credit cards, but we recommend caution. The best way to use the Platinum Plus is as a tool to reduce your existing debt, not as a way to take on more, but in the end it’s always up the customer. We hope we aren’t speaking out of turn, and are sure you know what you’re doing. If you have any other questions, please let us know and we’d be happy to provide more guidance. Thanks.
Can we transfer line of credit balance?
Hi Carl, thanks for your great question. Using the MBNA Platinum Plus bonus on a line of credit is certainly possible. It works differently than with a balance transfer, but you get the 0.00% rate anyway. This is what happens: you’ll first ask MBNA to transfer the required funds into your bank account via a deposit transfer, then you can use it to pay off your line of credit each month. It’s basically like having a cash advance that doesn’t accrue interest for a year. In fact, the MBNA Platinum Plus can be used for loans, credit cards, lines of credit and many other types of debt as well. This is why we recommend it to so many people as a tool to escape the pressure of high interest.
I’m looking for a card…. I have been discharged for 2.5 years from a bankruptcy… Can you give me a credit card…. I do have a MasterCard now
Hey Dianne, thanks for your question! If you already have a Mastercard, maybe you should look for a Visa or even an American Express card. Without more information on what kind of rewards you’d like, it’s hard to make precise suggestions, but we’ll try anyway. The American Express Air Miles card is a great option if you like flight rewards, and right now there is an optional balance transfer benefit that will grant you 1.99% interest for 6 months. Otherwise, the Platinum Plus is a great choice. They won’t judge you harshly for being discharged from bankruptcy and will also give you the best balance transfer deal on the market. Let us know if we can make another suggestion and we’d be happy to!
Would a person be able to transfer a loan balance to this card to take advantage of the 0% transfer rate?
Hey Anne! Thanks for your inquiry. It’s one we get often, and we are happy to give you the answer you want. Yes, you can transfer your loan to the MBNA Platinum Plus card, or any other source of high interest debt like a credit card or line of credit. This is why we love the MBNA Platinum Plus card. It presents a great opportunity for anyone with debt of any kind to help manage and repay it over time, thanks to 0.00% interest for a full year. If you need assistance with your transfer let us know. Thanks for coming to Greedyrates!
What people need to know is when you do a balance transfer be prepared NOT to use that same card for anything else for the whole year you are paying off the amount you borrowed. And make sure you pay it off entirely in that year of no interest.
I owe a fair amount on my credit cards at the moment and it is the high interest rates that are killing me. Will that affect my chance of getting approved? I really want to pay down my balances.
Hey Jo-Anne, thanks for your great question. With the Platinum Plus, you’ll have 90 days once approved to transfer your balance over, as much as your credit limit allows. MBNA decides this number during the application, which you’re encouraged to fill out as soon as possible. Even with weaker credit and many outstanding balances, you have a good chance to receive approval because these are the problems the card was created to solve. MBNA knows this and will be helpful. If you need any other tips, like how to make the most of your 0.00% interest period during the first 12 months, let us know! Thanks.
Can I just change the type of credit card I have at MBNA so my interest is 0% for 12 months?
Hi Linda, thanks for the question. Unfortunately we can’t think of any way to switch your card type and receive the Platinum Plus benefits. To get the Platinum Plus card, you need to apply, and MBNA expressly denies applicants who are already customers. If you really need a break from high rates, we can readily suggest other balance transfer cards to you. Check out the Cash Back Mastercard with no annual fee. This way it’ll cost you nothing to get 1.90% for 10 months, and in the meantime you can cancel your existing MBNA card then reapply for the Platinum Plus later. There are other options as well, and we can help you out more if you want. Just leave a comment to let us know, thanks!
I have one credit card Capital One and a low credit score but have been paying monthly on time what are my chances of getting a credit card
Hey Pamela, thanks for your question. MBNA has pretty easy qualification standards to meet if you’re looking to get the Platinum Plus card. They only require that you aren’t already a customer, and are relatively lax on applicants who show weaker credit. This is largely because the card is designed intentionally to help these people, but if you can show that you pay on time, that will boost your chances. If you need anything else, or have questions on how to do your balance transfer, let us know. Good luck on your application!
Hi, my question s are:
1:) what if you have a low balance on the cards I wish to move over? My credit is improving but very slowly. Which is frustrating.
2:) Once one has transferred their cards, can you request a lower interest rate after the 12 months?
Hey Anne, thanks for coming to Greedyrates. Let’s answer your questions as they appear:
1) If you have several credit cards with low balances, that is not a problem. Any balance trasfer made in the first 90 days is subject to the 0% interest rate, and there’s no maximum on how many transfers can take place. The only limit, literally, is the credit limit MBNA approves you for.
2) After you do your balance transfers, their total sum does not accrue interest at all for 12 months. Other parts of your balance do, like grocery purchases for instance. The card is not really meant to be used for everyday purchases, but rather as a shelter for your debt. If you don’t manage to pay off your transferred balance within 12 months, you can request an extension from MBNA, and they might give it to you. We’ve seen it granted to some readers who demonstrated responsibility during their ownership. Best of luck!
What financial institution underwrites this card?
MBNA belongs to TD Canada Trust. So it is not possible to pay another TD credit cards.
You take the cash transfer into you bank account and then pay the TD cc
Actually, you can transfer to and from this card to TD credit cards.. I took the promotional offer and when the 1 year was up, I transfered the balance to my TD emerald card for a 6 month promotion at 2% AIR. Hands down the most useful credit card I’ve owned.
TD bank bought MBNA
Hi im wondering i just did a preposal and need to rebuild my credit. I always get caught in the interest and a few bad situations in life. Would i get approved and would this card help me rebuild my credit
Hi Linabobina! Thanks for your comment. If you just did a consumer proposal, your financial status might prevent you from being approved for regular credit cards. However, Secured credit cards might be suitable for your situation, and companies like Home Trust or Peoples Trust will gladly take your application. Secured cards are safe for user and issuer alike, requiring a security deposit to increase your credit limit, and will help you repair your credit as well. Good financial performance like paying bills on time is reflected faster in your score because these issuers report to credit bureaus frequently. If you have any other questions about the process, let us know! We’re here to help.
I have $25K limit with a major card I would be interested if you offer the same credit limit. Is it your policy to keep your special rate financing cost down my provided only a fraction of the credit limit I have on other cards due to the 0% offer for 12 months.
Hey K.G., thanks for your inquiry. If you have a limit of $25k on your current card, there should be no reason (assuming responsible use) that an issuer would offer less. However, we’re not qualified to say, as we are not a bank nor a credit card company. We work in some capacity with these institutions in order to provide transparent reviews, but that’s where our expertise stops. We’ve seen other customers achieve credit limits through MBNA that are similar, so what you ask is certainly not outside the realm of possibility. While we can’t explicitly know MBNA’s policies, in our experience you have a definite chance. Thanks!
Why am I being charged .99% interest when all over the Internet I see a 0% interest rate on credit transfers?
Hi Werner, thanks for coming to Greedyrates. We’re sorry that you seem to be paying more interest than you expected. This is not common, we assure you, and suggest that you check with MBNA. The conditions for receiving 0% for 12 months are not hard to meet, but sometimes making a late transfer or using the card elsewhere will confuse the situation. Let us know how it progresses.
What type of payment would you have on $8000
Hey Lynne, thanks for your question.
If you’re looking to transfer an $8,000 balance to the Platinum Plus card, the only fee you will incur is a 1% transfer fee of $80. Then, this balance accrues no interest for an entire year, so one does not have to make any payments on it (but they should). The card’s purpose is not as a credit tool but rather as a shelter from high rates, so every dollar you put towards your balance goes towards reducing the overall principal amount instead of paying interest. Good luck!
I never had a credit card and i am on disability income would i be eligible to get a chance to receive credit please and thank you
Hi Ronald, thanks for leaving your comment. Even if you’ve never had a credit card before, chances are, your credit history still has activity. Fortunately, companies that issue Secured credit cards, like Home Trust and Peoples Trust, don’t put much emphasis on applicants’ financial history. They’ll take virtually any applicant and give him or her a credit card, as long as said applicant puts down a security deposit. For instance, after getting approved for the card, you can deposit a few hundred dollars and then use it as credit (online, for subscriptions, perscriptions, etc.) freely. You’ll also build your creditworthiness with the card as well considering these issuers report your timely payments and responsible use to bureaus like TransUnion frequently. Check them out, and if you need any other assistance, let us know!
The MBNA card is fantastic. I first got it with a $1500 limit. After I paid it off (in less than 6 months), my limit was increased to $3500 at 0.1% AIR. I paid that off within again less than 6 months. Shortly thereafter, I was given the opportunity to transfer the same balance again at 0% AIR, which I fully took advantage of, even though I didn’t really need it. Who’s going to argue with 0% interest charge!? Best deal in the country!
I already have an MBNA card…can I transfer a balance from that to a new 0% card?
Hey Steve, thanks for your comment. Unfortunately, one of the few stipulations that MBNA has for Platinum Plus applicants is that they must not already be a member. You won’t be approved for the card, let alone be able to transfer a balance, until you cancel your MBNA (and TD) account(s). However, there are other balance transfer deals out there outside of MBNA that are worth considering first. Check out the RBC Cash Back Mastercard, which offers 1.90% interest on balance transfers (and cash advances!) for 10 months – plus the ability to earn cash back. We’re prepared to offer other suggestions as well, including advice on how to cancel your card and reapply for the Platinum Plus, if that’s what you want.
i have a mc and Dufresene card, $3500, I was wondering about Installment loan balances Easyfinancial and Fairstone $4700, are the last two eligible for transfers
Hey Pete! Thanks for coming to GreedyRates and inquiring about the Platinum Plus from MBNA. To address your concerns that your existing loans and balances will not be transferable to the card, we think you’ve got nothing to worry about. MBNA will accept loans from just about any credit card, bank, line of credit or other source of debt and is very liberal about whom they approve. If you’d like to call and inquire, feel free to ask a friendly MBNA representative about it. We haven’t had too many readers report balance transfer denials to us, but we also don’t recommend taking an unnecessary risk if you have your doubts about whether or not you’ll be approved. Call today and let us know what they say – and thanks for reading! Best of luck.
i have a high interest mastercard.would my monthly amounts be low enuf to pay off this lousy card i got myself into?? fast enough!
Hey Reg! Thanks for your comment. With the Platinum Plus card from MBNA, it doesn’t matter what your transferred balance is, because you will accrue 0% interest regardless. You’ll get approved for a certain credit limit, and then you can transfer as much of your current Mastercard balance as fits. On this amount, you’ll have no monthly payments at all, giving you a solid year to pay it off. Whether you succeed in paying it off or not depends on how you use the card: with 0% interest, every dollar you put towards your debt reduces its principal amount, which can reduce the entire sum quickly. It takes diligence! There are also some useful credit tools that could help you during this time: secured credit cards. Cards like the Home Trust and Peoples Trust offer these options, so check them out. Let us know if you need any further assistance.
How do you transfer? Do you call MBNA and tell them your other credit card number and have them switch the balance? Just curious. thanks
Hey Melinda, thanks for your great question! To transfer a balance, one can select which bank and balances they want to transfer during the application process. The rule is that only balances transferred within 90 days of opening the card are eligible for the 0% rate, so there will also be time to transfer balances in the first few months after you’re accepted. This can be done by calling MBNA, and speaking with a customer service representative. Your other bank will also need to be involved in some capacity, and the MBNA rep should let you know what to do in this regard. Good luck!
if you transfer a line of credit from a bank onto here – lets say $2500 – does the same apply?
Hey Ron, thanks for asking a question that is relevant for so many of our readers. The MBNA Platinum Plus can take a balance transfer from just about any source, including a line of credit or another type of high interest loan. Credit cards also apply, obviously.
I have a low credit score but I am paying off bills on a ‘consumer proposal’. I have applied to MBNA before but they rejected my application. Looks like they aren’t as great as you are saying they are.
Hey Eleanor, thanks for your question. We’re sorry you were disappointed with MBNA’s service. Usually, this issuer is friendly and accepting of applicants from diverse credit backgrounds, but they do specify that bankruptcy and similar obstacles might be a deterrence. If you’re currently in a consumer proposal, we recommend you check out cards that are designed to rebuild and repair your credit before going for unsecured cards like the Platinum Plus. Check out the Home Trust and Peoples Trust line of secured cards. They might be more suitable for your situation considering they do not restrict approval based on prior credit difficulties. Best of luck!
Is it only a one time balance tranfer for 0% in 12 months?
Hey Roxanne! Awesome question – there is sometimes some confusion about how the balance transfer process works, and we’d be happy to clear it up for you. Basically, once you’re approved for the Platinum Plus card, you have 90 days to do your balance transfer, or transfers. The only restriction on you is your credit limit, and you can transfer debt from other cards, lines of credit, high interest loans, or elsewhere. Then, this entire sum will accrue 0% interest for a year, giving you the chance to make payments and directly decrease the principal amount. If you need further advice or want to know best practices for reducing your balance during this year-long promotion, let us know! We’d be happy to help you wipe the slate clean.
What if my credit is very low what is the likelihood of qualifying? I am slowly trying to build it back but it’s Very slow.
Hi Jgirl! Thanks for the great question. We can’t say whether you’d be approved or not, even with your exact credit score, because we aren’t privy to the strategy that MBNA uses to determine eligibility. You can try applying, but know that it will temporarily ding your credit. MBNA is usually pretty lax when it comes to scrutinizing applications for the Platinum Plus, because the card is aimed specifically at people in your situation. It helps consolidate unmanageable debt, which is largely held by those with weaker credit anyway. If you’d like to better your chances before applying, we suggest getting a secured credit card like those from Home Trust or Peoples Trust. These cards will give you access to credit that matches your initial security deposit, and as such come with little to no risk. Additionally, the issuer will report your good standing, responsible payments and usage habits to credit bureaus with more frequency. If you work hard, one of these cards will help you repair your credit pretty fast.
I have a line of credit at 6.5% with a balance of 75k. Can you help?
Hi Tina, thanks for coming to Greedyrates with your dilemma. We think we can help, or rather, MBNA can help. The Platinum Plus allows new customers to transfer balances from a line of credit and still receive the 0% interest rate promotion, but it works a bit differently. Because a line of credit charges your bank account for monthly payments, MBNA will simply approve you for a certain limit and then transfer it to your bank account in order to cover these payments on your line of credit. This balance on the Platinum Plus then accrues 0% interest as advertised, as your payments are made from the other account.
Whether you are approved for the full $75k balance is another story. This is a relatively high amount, and without an income to match or a robust credit history, it’s unlikely that MBNA will approve the entire amount. It’s up to them however, and we may be mistaken. Give them a call and explain the situation, and we will be happy to provide further guidance once you have more information. Thanks!
from my experience and my friends experience you get approved for 10.000 if your income around 100.000/ year. if you have 750.000/year income you will get 75.000 credit limit 🙂
Hi I have a MBNA credit card., Can I get anoth one?. I used the money (balance transfer).
Just we purchased a house so we need money to Balance transfer. How do we get line of credit?
Hi Shan, thanks for your question! You can’t apply for the same credit card twice, but you could apply for another MBNA credit card as long as it’s not the same one you already hold or take a look at some of the other options if you need another balance transfer. We would recommend speaking to your bank representative regarding the line of credit, but with the MBNA Platinum Plus card you can receive 0% APR on balance transfers made within the first 90 days for the first year, making it easier to reduce your expenses on payments. Let us know how your requests turned out!
I already have an MBNA Platinum Card and paid off my first 0% balance, can I get another 0% interest free balance transfer with my card???
Hi Pamela! Wow, congratulations on using the Platinum Plus to pay off your entire balance! That must be a weight off your shoulders, and is a testament to the benefit of such a great promotion. If you’d like to do it all over again, however, you’ll have to cancel all of your existing MBNA and TD accounts. One of the few requirements that MBNA has for applicants is that they are not already members, though this is easily remedied. Wait a month or so after cancellation and then reapply, you should have no trouble getting the very same deal. Good luck!
Call, complaint and you will get a deal … log on your account online you might have offers too.
Hi Please I need your help and advice. I have a nagging credit card balance total $15,000 from 4 different organizations but non of them has gone bad .I wanted to do a balance transfer so I called the mbna office I was told that I needed to get approved for a credit card first before I can apply for a transfer.unfortunately my application was rejected.I am not looking for a new credit I only want to do a transfer so I can be making a single payment which is much easier. What step will you advice I take next
Hi Olusegun, thanks for coming to us. The MBNA card is a great tool for someone in your situation, who needs shelter from high interest rates elsewhere. However, there are other solutions if they didn’t approve your application. There’s the Cash Back MasterCard (with no annual fee), AmEx Essential card and others, all listed here on this page:
Like you did with MBNA, call in first to talk with a representative, in order to get a feel for what the application process will look like. You can alternatively try to improve your credit score, by paying some of your outstanding bills, or using a secured credit card. Once it’s looking healthier, then MBNA is more likely to accept. if you need assistance, let us know!
Hey what happens after 12 months? I mean how much interest would we get charged after 12 months?
Hey Shahid, thanks for your question. After 12 months the balances that you transferred over 12 months ago begin to accrue interest again (at a rate of 21.99%). So, the first month after the ending of the 0.00% interest promotion, you would be charged a month’s worth of interest on that outstanding unpaid amount.
I was wondering, so after the 12 months are up what is the interest rate that will be charged for the balance owing on the card?
Hi Diane, and thanks for your question! The 12-month offer is for balance transfers, and afterward, you can still transfer existing balances with a rate of 21.99%. The interest rate for purchases is 19.99%, and 24.99% for cash advances. Let us know if this is helpful!
I want to make sure , cash advance to my Td account will do o% interest in 12 mons without any other fee, if I applied.
Hi May, thanks for reaching out! The MBNA Platinum Plus Mastercard offers 12 months of 0% interest for balance transfers. While you may easily move your existing credit card balances to this card and save with zero interest for a full year, cash advances are not covered by the promotion. They are offered at a rate of 24.99% interest. Hopefully this answers your question!
You can also advance cash from your MBNA Platinum Plus Mastercard account to your bank’s checking account and use it for any purpose you’d like and enjoy the same 0% interest rate for 12 months. It’s like a cash advance, except the money is deposited into your checking account, at 0% for 12 months.
Seem like you can do it.
I applied and was told they could not give me an answer . Do I reapply or wait to see if I get something in the mail?
Hi Susan, thanks for coming to GreedyRates.
It sounds like you called MBNA with the relevant information, and asked if you’d be accepted should you apply. Nice job! That’s what is required, sometimes more than once, before you get an answer. It’s tough, even for an employee, to determine your likelihood as an applicant without the full set of data required during the application itself. If your credit is decent, regardless of your outstanding debts, we suggest you apply.
Even a hard credit check creates just a temporary decline in scores, and has no long-lasting negative effects. It’s a small price to pay for such a useful credit card. For cash advances, there is no promotional rate, and you’ll pay interest the same as you would with other cards. The Platinum Plus helps people regain control over their finances daily, but uses zero-fee balance transfers to do so. Let us know how we can help you further and good luck on your application!
If I already have an MBNA Rewards MC, can I still apply for this card and get the promotional 0%?
I see in the other comments somebody asked a similar question, and you responeded “one of the few stipulations that MBNA has for Platinum Plus applicants is that they must not already be a member”
However, I used the chat feature on the MBNA site and they confirmed that it’s not a problem. Did you guys find this stipulation in the disclaimer somewhere?
Hi Jeff, thanks for leaving your comment with GreedyRates!
We’re sorry if the language we’ve used in previous comments was confusing, but it looks like MBNA may have recently changed their applicant parameters. One of the few restrictions that MBNA puts on new balance transfers is that they cannot be from current customer accounts. For the record, this means that you can apply for the card, but will not be able to transfer the balance from your MBNA Rewards Mastercard to it. Balances from any other bank are fair game. This concept is often confusing to comprehend, so we’re glad we could clear it up for you. If you have any other questions, let us know!