MBNA 0%/15 Months Thread #2

[jonanddad]

^ They should be able to provide a limit of 20% of your annual income. That's the case for non students. Though, if not student, your annual household income must be at least 35000$ they say.

Kk, and yes my household income is more than that. I am still currently living with my parents.

[dd55]

^ Well, your own income in that case.

[jonanddad]

^ Well, your own income in that case.

ooo... close but not there

[hill90]

i already have 2 credit cards too with mbna and they denied me a credit increase in the last 5 months and i just saw this 0% promo now. Is there any way i can get this?

[angel_wing0]

i already have 2 credit cards too with mbna and they denied me a credit increase in the last 5 months and i just saw this 0% promo now. Is there any way i can get this?

i would wait a few more months and then apply.

[hill90]

what if i decreased my limit on my cards? will decreasing your limit result in a hard credit check

[NUTS]

can anyone answer the following

For someone whose income is now 50% or less of what it was when they got the last go around, the card has zero balance with its 0/15 promo expiring in the next 90 days.

If they apply for a new card to consolidate the old limit to a new card - what approach should they take or use to apply for the next go around 0/15

[Dealll]

can anyone answer the following

For someone whose income is now 50% or less of what it was when they got the last go around, the card has zero balance with its 0/15 promo expiring in the next 90 days.

If they apply for a new card to consolidate the old limit to a new card - what approach should they take or use to apply for the next go around 0/15

I think they will decline the application because even the old card limit is too high for current salary.
I would just cancel the old card and then apply for a new one.

[dd55]

what if i decreased my limit on my cards? will decreasing your limit result in a hard credit check

No and it's the only way you can get approve for a new 0% card.

[dahhunter]

I just got my card..

It came with a $2500 limit..

However i have a cash back card with a $9000 limit..

It had a Balance of $1000 on it..

I talked to the guy, and got them to transfer $8000 of my limit to my new card..

Free money.

Good times.

Thanks OP for the simple and easy to follow info.

[Dealll]

I just got my card..

It came with a $2500 limit..

However i have a cash back card with a $9000 limit..

It had a Balance of $1000 on it..

I talked to the guy, and got them to transfer $8000 of my limit to my new card..

Free money.

Good times.

Thanks OP for the simple and easy to follow info.

I also got my new card today. Got a similar low limit. Asked for transfer my limit from another card. No problem, they said, but the consolidating process will take 5-7 business days(?). I recall it used to be instant.

dahhunter: If you have 1000 on another card, the limit better be a little higher, not exactly 1000. You could "accidentally" go over your credit limit. And banks don't like if you have more than 80% of your credit limit filled up on any of your cards.

[actng]

And banks don't like if you have more than 80% of your credit limit filled up on any of your cards.

this can't be true because on more than one occasion i've asked for an amount for balance transfer on my credit card application form... the credit limit that gets approved afterwards is 100% of balance transfer + balance transfer fee + interest payment + $50.

So 101%. not 120% as you're suggesting.

[Rockstead]

My strategy was to call in and ask for a credit limit increase just before my first 0/15 expired and then paying off the balance, applying for a new card and then having the credit from the first card added to the second.

[actng]

My strategy was to call in and ask for a credit limit increase just before my first 0/15 expired and then paying off the balance, applying for a new card and then having the credit from the first card added to the second.

credit limit + new card application = 1 hit or 2 hits?

[Rockstead]

credit limit + new card application = 1 hit or 2 hits?

2 hits, does it really matter?