MBNA Credit Card Limit Increase After 3 Days
Author: usmsci
Posted: Tue Aug 08, 2006 4:16 pm
Post subject: MBNA CLI after 3 days.. i really messed up.. ideas please...
i received a BOA World points card with an initial CL of $3,600 and 0% APR for 12 months on purchases and BT's with a 3% BT fee with no maximum. i transferred $3,450 with a fee of $103.50 for that BT.
Now i feel stupid. i read on here where MBNA was soft for giving CLI's so i decided to ask for an increase after i made the BT. remember my balance is now $3,553.50 out of $3,600 CL. so its been 4 hours and i logged back into the site and they gave me an increase to $6,000.
is there anyway to call them back ask for them to see if i can pay them back the $3,450 they gave me and then do a BT again? i dont want to have to, lets say BT another $2,200 and pay another 3% fee which would be $66.00. EDIT: i feel stupid. i see that regardless i would be paying the same amount. if i was to BT $5,650 then the BT fee would have been $169 which is the same as making 2 BT's..for some reason i thought that was different. i guess it WOULD be different if there was a $75 cap but in this case its not.
Some of you might say its not worth it but i dont plan on putting the money back into my HELOC after the 12 months expires. the simple reason is is that i have a fixed 7.9% from then on which is less than prime+2-3.5 that i am paying on my HELOC.
I guess people were right about MBNA. they pulled experian which has no derogs, perfectly clean. NOW i cant wait til my MBNA world points comes in with ONLY a $2,500 CL. i will for sure ask for a CLI or should i wait til i BT? what do you think.. do you think the only reason i got a CLI was because i was practically at my limit with the first BT or would i have gotten the CLI anyway.
in the form online they ask you to give them a credit limit that you are asking for or for you just to leave it up to them so i just put $6,000 b/c i didnt want to be over eager. in hindsight i should have put in $10K.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: hesiden
Posted: Tue Aug 08, 2006 4:27 pm
Post subject: Re: MBNA CLI after 3 days.. i really messed up.. ideas pleas
usmsci wrote:
thoughts?
%3 BT fee with no cap sucks.
Citi has 0% APR for 12 month no fee BT for most of their cards.
Author: usmsci
Posted: Tue Aug 08, 2006 4:30 pm
Post subject: Re: MBNA CLI after 3 days.. i really messed up.. ideas pleas
hesiden wrote:
usmsci wrote:
thoughts?
%3 BT fee with no cap sucks.
Citi has 0% APR for 12 month no fee BT for most of their cards.
yeah well CITI checks EQuifax and i have 2 derogs from 5 years ago and 7 years ago and therefore i cannot get accepted. it seems that all BOA and MBNA cards are 3% no cap. Chase and AMEX have a cap at $75.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: usmsci
Posted: Tue Aug 08, 2006 6:16 pm
Post subject: MBNA Credit Card Limit Increase After 3 Days
just received my 2nd BOA card that i applied for through MBNA. CL was only $2,500 but came with a fixed 13.99 APR after the 12 month 0.0% for purchases and Bt's. the first BOA card came with a 7.90% fixed after the 12 month period so he just said he would combine the 2nd card with the 1st card so that gives me a $8,500 CL now after getting the CLI to $6,000 on the other card. Now i feel sick because i could have waiting to see if i could get a CLI on the 2nd card THEN make a transfer to the other card but oh well.
The BOA rep also said that its counts as GOOD on my credit report if i combine 2 cards into 1. is this so and why? thanks for listening!
Author: fire3000
Posted: Tue Aug 08, 2006 6:37 pm
Post subject: MBNA BT
MBNA charges a 3% BT fee with no cap. So go ahead and make your additional BT. Canceling the first BT and replacing it with one larger BT will not save you money in fees because they are not capped (a straight 3% on the total amount borrowed).
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Tue Aug 08, 2006 4:16 pm
Post subject: MBNA CLI after 3 days.. i really messed up.. ideas please...
i received a BOA World points card with an initial CL of $3,600 and 0% APR for 12 months on purchases and BT's with a 3% BT fee with no maximum. i transferred $3,450 with a fee of $103.50 for that BT.
Now i feel stupid. i read on here where MBNA was soft for giving CLI's so i decided to ask for an increase after i made the BT. remember my balance is now $3,553.50 out of $3,600 CL. so its been 4 hours and i logged back into the site and they gave me an increase to $6,000.
is there anyway to call them back ask for them to see if i can pay them back the $3,450 they gave me and then do a BT again? i dont want to have to, lets say BT another $2,200 and pay another 3% fee which would be $66.00. EDIT: i feel stupid. i see that regardless i would be paying the same amount. if i was to BT $5,650 then the BT fee would have been $169 which is the same as making 2 BT's..for some reason i thought that was different. i guess it WOULD be different if there was a $75 cap but in this case its not.
Some of you might say its not worth it but i dont plan on putting the money back into my HELOC after the 12 months expires. the simple reason is is that i have a fixed 7.9% from then on which is less than prime+2-3.5 that i am paying on my HELOC.
I guess people were right about MBNA. they pulled experian which has no derogs, perfectly clean. NOW i cant wait til my MBNA world points comes in with ONLY a $2,500 CL. i will for sure ask for a CLI or should i wait til i BT? what do you think.. do you think the only reason i got a CLI was because i was practically at my limit with the first BT or would i have gotten the CLI anyway.
in the form online they ask you to give them a credit limit that you are asking for or for you just to leave it up to them so i just put $6,000 b/c i didnt want to be over eager. in hindsight i should have put in $10K.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: hesiden
Posted: Tue Aug 08, 2006 4:27 pm
Post subject: Re: MBNA CLI after 3 days.. i really messed up.. ideas pleas
usmsci wrote:
thoughts?
%3 BT fee with no cap sucks.
Citi has 0% APR for 12 month no fee BT for most of their cards.
Author: usmsci
Posted: Tue Aug 08, 2006 4:30 pm
Post subject: Re: MBNA CLI after 3 days.. i really messed up.. ideas pleas
hesiden wrote:
usmsci wrote:
thoughts?
%3 BT fee with no cap sucks.
Citi has 0% APR for 12 month no fee BT for most of their cards.
yeah well CITI checks EQuifax and i have 2 derogs from 5 years ago and 7 years ago and therefore i cannot get accepted. it seems that all BOA and MBNA cards are 3% no cap. Chase and AMEX have a cap at $75.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: usmsci
Posted: Tue Aug 08, 2006 6:16 pm
Post subject: MBNA Credit Card Limit Increase After 3 Days
just received my 2nd BOA card that i applied for through MBNA. CL was only $2,500 but came with a fixed 13.99 APR after the 12 month 0.0% for purchases and Bt's. the first BOA card came with a 7.90% fixed after the 12 month period so he just said he would combine the 2nd card with the 1st card so that gives me a $8,500 CL now after getting the CLI to $6,000 on the other card. Now i feel sick because i could have waiting to see if i could get a CLI on the 2nd card THEN make a transfer to the other card but oh well.
The BOA rep also said that its counts as GOOD on my credit report if i combine 2 cards into 1. is this so and why? thanks for listening!
Author: fire3000
Posted: Tue Aug 08, 2006 6:37 pm
Post subject: MBNA BT
MBNA charges a 3% BT fee with no cap. So go ahead and make your additional BT. Canceling the first BT and replacing it with one larger BT will not save you money in fees because they are not capped (a straight 3% on the total amount borrowed).
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 8:53 PM
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