Personal Finance

MBNA 2.99% AIR Until Balance is paid off

  • Last Updated:
  • Aug 30th, 2008 2:49 pm
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[OP]
Jr. Member
Mar 15, 2005
167 posts
32 upvotes
Kirkland

MBNA 2.99% AIR Until Balance is paid off

Just got an offer by the mail from MBNA.
It seems for the first time ever MBNA is offering a rate of 2.99% until you decide to pay off your promotional balance.

Looking at transferring $20,000 from my mortgage. I'm going to give them a call on Monday to have the transfer fees waived (they always did it in the past) :)
40 replies
Deal Fanatic
Jul 4, 2004
7383 posts
634 upvotes
Toronto
2.9% annually for as long as you want to take to pay off the balance? Seriously, go max out that card, put it in a safe place, and go pay down your mortgage. This is a great deal if you don't want to keep playing the 6 month, 12 month, 15 month (etc) balance transfer promo game.
Deal Addict
Oct 25, 2004
1663 posts
358 upvotes
Montreal
tailcone wrote:
Aug 1st, 2008 8:50 pm
Just got an offer by the mail from MBNA.
It seems for the first time ever MBNA is offering a rate of 2.99% until you decide to pay off your promotional balance.

Looking at transferring $20,000 from my mortgage. I'm going to give them a call on Monday to have the transfer fees waived (they always did it in the past) :)
A friend received the same offer....sounds great!
Deal Addict
User avatar
Aug 12, 2007
1823 posts
9 upvotes
Is this for a new card, or did they send you cheques for your for your existing card?

If it's a new application, could you share your "priority code" and the phone number? I really would be interested in this. Is there is a 1% or more transfer fee as well?

Thanks.
[OP]
Jr. Member
Mar 15, 2005
167 posts
32 upvotes
Kirkland
I received cheques for a MBNA Card, for a card that I already have with them. But I am sure u can call them up and negociate a fixed AIR.
I have two cards with MBNA (one for everyday expenses that gives me CAA points and platnimun benefits with a fixed AIR of 6% and the other card is basically a Credit line Card which I was offered the promotional 2.99% AIR until balance is paid in full.
Jr. Member
Jul 25, 2008
115 posts
10 upvotes
Oshawa
Last month, MBNA was giving out 1.99% for the life of balance with 1% transfer fees. See if you can still get it..
I just called them and asked for the above. The rep found the card promo herself.
Goodluck!
tailcone wrote:
Aug 1st, 2008 8:50 pm
Just got an offer by the mail from MBNA.
It seems for the first time ever MBNA is offering a rate of 2.99% until you decide to pay off your promotional balance.

Looking at transferring $20,000 from my mortgage. I'm going to give them a call on Monday to have the transfer fees waived (they always did it in the past) :)
Jr. Member
Jul 25, 2008
115 posts
10 upvotes
Oshawa
I didn't have the promo code myself. I just called 1877 862 7759 and asked them for the 1.99% 'Plantinum Plus Master card' (1.99% for life of balance w/ 1% balance transfer fee)
realinvestor101 wrote:
Aug 2nd, 2008 9:52 pm
Maximus,

Do you have the promo code for this
Deal Fanatic
Dec 11, 2003
7810 posts
310 upvotes
Can you post a scan if possible please?
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Newbie
Feb 10, 2007
12 posts
Scarborough
This is code I got in my mail for 1.99% Introductory Annual Interest Rate for life of a balance:
D-4415695487
Call 1.866.478.3666(b)
Good luck!
Deal Expert
User avatar
Apr 21, 2004
50627 posts
15421 upvotes
mily wrote:
Aug 4th, 2008 9:38 pm
This is code I got in my mail for 1.99% Introductory Annual Interest Rate for life of a balance:
D-4415695487
Call 1.866.478.3666(b)
Good luck!
So is this the number to call according to the lady csr you spoke to for the 1.99% promotion? Thanks. You had called a 1-877 number earlier.
Jr. Member
Nov 28, 2006
140 posts
15 upvotes
Maple
Is there a minimum monthly repayment?
Newbie
Jun 22, 2005
23 posts
Minimum payment is calculated at 2.25% of outstanding balance
Member
Oct 30, 2007
461 posts
6 upvotes
Is the 1.99% a gauranteed fixed rate or can they raise this anytime???

That would be a pity seeing this rate jump if you have a high balance owing!
Deal Expert
User avatar
Dec 11, 2005
19037 posts
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ekren7 wrote:
Aug 5th, 2008 3:30 pm
Minimum payment is calculated at 2.25% of outstanding balance
Yeah... pretty sure people considering transferring over 20K or whatever from their mortgage should look at this closely... your first minimum payment would be on the order of $450 (plus your normal mortgage payment).
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