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MBNA Cards with BT Promo's - MBNA TL New Card0%/12 Month Offer

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  • Mar 18th, 2024 7:48 pm
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Deal Addict
Feb 6, 2018
1488 posts
1269 upvotes
if i was approved a few days ago, can i apply again via phone and use the same report that i had? Smiling Face With Open Mouth And Cold Sweat
Deal Addict
Jan 18, 2014
1537 posts
512 upvotes
Rouyn-Noranda
Kestral wrote: My MBNA PP 0% promotion expires in a little over 2.5 weeks. Was going to pay off my MBNA PP and then transfer the balanced to my MBNA Visa, which as a 0% for 10 months, but a 2% fee, so I'll save 1% fee doing this. Considering that my total credit is about $38,000, saving 1% ($380) is worthwhile.

Oh wow, that's great timing! Good job!

I will probably hold off on applying for another card for now and apply for a CL increase instead.

In your experience, how long after being approved is it safe to apply for a CL increase? I had read at least 3 months IIRC.
Newbie
Dec 9, 2018
16 posts
Thanks guys. Got approved instantly.

What happens after this?

Didn’t get an follow up email or anything...
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Deal Addict
User avatar
Jul 30, 2005
1170 posts
1166 upvotes
Downtown Toronto
DonovanD39069 wrote: Thanks guys. Got approved instantly.

What happens after this?

Didn’t get an follow up email or anything...
It took a little while for my follow up email to arrive, you should have received it by now.
Deal Addict
User avatar
Jul 30, 2005
1170 posts
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Downtown Toronto
John47 wrote: Oh wow, that's great timing! Good job!

I will probably hold off on applying for another card for now and apply for a CL increase instead.

In your experience, how long after being approved is it safe to apply for a CL increase? I had read at least 3 months IIRC.
I usually wait until I log into the website and they offer it to me. But if your credit limit is low or if you recently got a raise at work, you could try it.

I received a raise awhile back and did the CL increase and stated my higher income and was approved instantly.
Newbie
Dec 9, 2018
16 posts
Kestral wrote: It took a little while for my follow up email to arrive, you should have received it by now.
thanks! how long did it take for you to get the card?
Deal Addict
Feb 6, 2018
1488 posts
1269 upvotes
Kestral wrote: I usually wait until I log into the website and they offer it to me. But if your credit limit is low or if you recently got a raise at work, you could try it.

I received a raise awhile back and did the CL increase and stated my higher income and was approved instantly.
is it a hard check for CL increase?
Newbie
Dec 9, 2018
16 posts
Skywalkerforever wrote: I had one mbna card with 5 klimit. Then applied for two new ones, got applied both with 10 k limits. Closed one of the new ones down, and put 5 k each on my other 2 Cards 15 k and 10 k now.

Might apply for another card in 5 months and move the 10 k onto my 2 cards.

But it seems like they some times make a limit to how much you can have?

Titanium, i think you said some one on here has mbna with 72 k limit?
did you get an email after the second card application went through?
Banned
User avatar
Oct 19, 2018
97 posts
42 upvotes
DonovanD39069 wrote: did you get an email after the second card application went through?
Yes got email saying it was under review, aka some one did had to process it manually. Did not get an email saying I was approved later. I called in to find out.

Are you wanting to get 2 cards at the same time as well?
CIrrus card it's blue.
Newbie
Dec 9, 2018
16 posts
Skywalkerforever wrote: Yes got email saying it was under review, aka some one did had to process it manually. Did not get an email saying I was approved later. I called in to find out.

Are you wanting to get 2 cards at the same time as well?
I got approved for one instantly and the second one says its under review.

Got 2 emails back to back stating the above.
Newbie
Dec 9, 2018
16 posts
Skywalkerforever wrote: Yes got email saying it was under review, aka some one did had to process it manually. Did not get an email saying I was approved later. I called in to find out.

Are you wanting to get 2 cards at the same time as well?
Did you receive both cards simultaneously?

With Canada Post these days, I'm not optimistic that it'll arrive anytime soon.
Banned
User avatar
Oct 19, 2018
97 posts
42 upvotes
titaniumtux wrote: No. You can move unused CL anytime. YMMV, but most CSR's will insist leaving $500+ of unused CL on each card.
Strange thing is I moved all 10 k to my 2 other mbna cards, and this account was just a month old before I closed it. Now it has been removed from my TU file but shows up still on Eq

Weird hey,
CIrrus card it's blue.
Deal Addict
User avatar
Jul 30, 2005
1170 posts
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Downtown Toronto
DonovanD39069 wrote: thanks! how long did it take for you to get the card?
I'll make a post as soon as it arrives, would not be surprised if it arrives today or tomorrow.
Deal Addict
Feb 6, 2018
1488 posts
1269 upvotes
for balance transfer promo that is ending, do you pay it off before the 10-month period ends, or do you pay it before the statement comes out?
Deal Expert
User avatar
Apr 21, 2004
58648 posts
24637 upvotes
Your monthly statement will show the estimated promo end date.

The statement end date that follows that estimated promo end date will be the actual BT offer end date.

if the former says Dec 12 and your upcoming statement end date is December 15, then it's actually on the 15th and not the 12th that you have to pay it off. Some suggests that the transaction date is fine but I usually pay them the balance off one business day earlier to play safe as it posts one business day later when I make the payment through RBC online banking.
Deal Addict
Feb 6, 2018
1488 posts
1269 upvotes
thanks. another question: is it correct that for promos that has zero interest, those are the promos that you maximize your CL limit to use it for TFSA/HISA/savings right? because if the promo has interest above 0%, then it wouldnt be profitable at all if you don't earn that much interest on those savings?
Deal Expert
User avatar
Apr 21, 2004
58648 posts
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My LOC cost is much higher so I don't put BT funds in high interest rate savings. Of course there is no guarantee with stock pickings.

I use BT's to top up our registered accounts, which is why I was okay with the 3% rate.

Yes if BT fee was higher, no point wasting in a savings account paying equal or less.
Deal Addict
Feb 6, 2018
1488 posts
1269 upvotes
Kiraly wrote: So I'm a few months into my latest BT, borrowing $32.4k. I got my latest statement today and was expecting a minimum payment of $324, but it's only $10..? I called up and asked if that was a mistake. Rep was as surprised as I was that it was only $10, but she said that's what it says. I asked her to double check that paying only $10 won't jeopardize my 0% BT promo rate. She said that as long as I pay the minimum amount shown on the statement then I'm good, so enjoy. I will!
how do you compute the minimum payment? is it based on the original BT amount or the remaining amount? is it the same with different banks?
Deal Expert
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May 8, 2009
15560 posts
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Going to the Moon
terracotta92 wrote: thanks. another question: is it correct that for promos that has zero interest, those are the promos that you maximize your CL limit to use it for TFSA/HISA/savings right? because if the promo has interest above 0%, then it wouldnt be profitable at all if you don't earn that much interest on those savings?
Unless it's $0 BT fee, but 0.99% interest (regardless of promo duration...4, 6, 10, 12, etc. months). Still earn above that in HISA/TFSA.
terracotta92 wrote: how do you compute the minimum payment? is it based on the original BT amount or the remaining amount? is it the same with different banks?
1% of current balance. Usually a $10 minimum.
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