0 per cent on balance transfers until December 2008 – 3 per cent fee applies



0 per cent on purchases until your statement date in March 2008

0 per cent on transferring cash into your current account until your statement date in December 2008

Personally I wanted to take advantage of the 0 per cent on balance transfers as I had a fairly hefty balance to transfer from another credit card. My other credit card was actually provided by MBNA for Sainsbury’s bank so unfortunately when I phoned to transfer my balance to the 0 per cent MBNA credit card I was told this wasn’t possible because in essence the balance was with MBNA anyway.

Luckily I was able to transfer cash into my current account using the MBNA credit card, still at the 0 per cent rate, until December 2008, and then I was able to simply write a cheque to Sainsbury’s bank to pay off the balance on the card. The idea of transferring cash into a current account is a very flexible way to get round the balance transfer issue I had but would also be useful for customers wanting to get make their credit cards worl to their advantage.

Most credit cards available today will offer 0 per cent on purchases for only 3 or 4 months but with the MBNA platinum card you could take advantage of this transfer cash into your current account, at 0 per cent.

If you have a budget for Christmas shopping, birthday presents or know you’re likely to treat yourself to something during the course of the next year, maybe even a holiday or second hand car purchase, you could use an MBNA platinum credit card and borrow in advance for these purchases, at 0 per cent.

Work out how much you’re likely to spend, make sure you’re being realistic and not greedy for the sake of it, don’t waste this money! Then simply transfer the amount into your current account and enjoy the 0 per cent rate until your statement date in December 2008.

I would personally only do this for the ‘bigger ticket’ kind of purchases you think you’re likely to make during the course of the year. Of course this is all subject to whatever credit limit MBNA decide is suitable for your circumstances….Worth thinking about though?