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Email this1:36 pm
December 12, 2008
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If Its going to take you more than 2 years to pay off the debt, I would suggest the 1.99% Life of Balance.
If less than 2 years, go ahead with the 0% for 12 months (or 15 months if you can get it).
There is no offer code for the 0% offer (at least I dont know it). You basically have to contact them and say:
1) "I received mail from MBNA that presented a 0% for 12 months, but I have lost it. Is there anyway you could look this up so that I may apply?" OR
2) "A friend of mine told me about a 0% offer and I'm interested in applying for"
It may take you several attempts to get a Rep that will find it and sign you up. Just keep trying. If you apply for the 1.99% Life of Balance offer. Code is "CEAN".
djino
"Goodluck"
11:42 pm
I applied for the premium rewards platinum plus card (online) two weeks ago. Just phoned them today, and with an income of $22k/year I was accepted. Now just have to wait a couple weeks for the 'welcome package' in the mail to arrive.
Maybe because I still live at home and just pay a couple hundred in rent they let my slip through w/o $25k a year salary?
So with the 1% cash back, I assume it pays out each anniversary of the card? Was planning on getting the card now, using it to buy to stuff for moving out (prob over the next 6 months or so). Then applying for the smart cash card, and getting that extra % for 6 months when I actually have to start buying groceries.
Can I have both cards and just cancel the 1% cash back (non smart cash) card after I get my % back after 1 year? Or do I have to upgrade the card only?
Great idea of buying gift cards from grocery stores and get the %3 over the straight 1% if bought the item directly with the credit card 🙂
7:44 am
December 12, 2008
Offline
Existing MBNA clients applying for a new MBNA account have 2 options for the new account.
1) You tell MBNA you wish to apply for new account. This assumes you are also applying for "new" credit for it. They will pull a credit report from you (credit hit) and will approve or deny the application for "new" credit. If you are approved for the "new" credit, but are not satisfied with the credit limit given you can ask to decrease the limit on existing account to move towards increasing the new account. (The same is if you are originally denied for "new" credit, you can ask that they decrease an amount from existing account to use towards the new account.
2) If you do not wish for MBNA to pull a report from you (avoiding a credit hit) or if you are certain MBNA has given you the maximum amount of credit. Then you can avoid the credit hit by simply asking them to decrease limit on existing account to use towards the new account.
So to answer your question, yes you can have multiple accounts with MBNA, it just depends on how you'd like your credit allocated. As I said in a previous post, MBNA has given me a total of $15,000 which I have allocated among 4 different accounts.
You mentioned waiting until 6 months or so until you move somewhere inwhich you'd do more frequent grocery shopping and then apply for Smart Cash Card. My answer to that is, well you never know if this account is a limited time offer, granted that is most likely not the case, but its even more possible that the 6 months at 5% will no longer be there when you apply. What I would suggest is applying sooner than later, and just pick up Gift Cards for Gas/Groceries that you can use when you are ready to do more frequent shopping. The choice is yours.
djino
11:13 am
I quickly skimmed through the entire posts. I saw that about card, but guess didn't pay enough attention to it 🙂 Since was approved for such low limit, prob take the all or nothing approach. Meaning that upgrade right away, or just not use the non smart cash card and then upgrade in 3 months (probably have to start buying pots n pans, towels, cutlery...). Either way still getting more than my 0.5% cash back now, so if I miss the promo period oh well 🙂
8:46 am
Went to check out the gift card selection at Sobeys. What I could do is buy the visa 'my gift' cards for $ amount instead of cards meant for a specific store (assuming they had the specific ones). Then use them for anything anywhere.
That way, since they don't have a shoppers drug mart, or eb games gift cards (examples), I can get my 3% instead of 1% buy using those gift card(s) directly instead of using the mbna mastercard at those shops.
10:10 am
December 12, 2008
Offline
Although in theory that may seem like a good idea.. BUT
Visa/Mastercard gift cards always charge some sort of service fee. Meaning you buy a $50 Card, but really you only get around $45 worth of spending on it which means you are not much (if at all) ahead with the 5% you'd get back from MBNA.
Its always best to buy the gift card FOR the merchant you plan to buy from. From my experience I've seen Grocery stores/Gas Stations sell the following Gift Cards:
Old Navy
HBC (Zellers, The Bay, Home Outfitters)
Home Depot
Cineplex/Famous Players theatres
Futureshop
Bestbuy
Subway
La Senza
The Source by CC
Swiss Chalet
Boston Pizza
Long Distance Cards (VOX, etc)
Cellulare Prepaid cards (Bell, Rogers, etc)
There are many more, but these are a bunch I could name off the top of my head.
djino
5:56 pm
Damn. figured that it would be just like a regular credit card where the merchant pays the usage fees.
The idea was more based on them not having gift cards for a bunch of stores. ex. canadian tire, giant tiger, scoop and save (natural food store) and so on. Trying to find another way to milk the card to the max 🙂
10:52 am
December 12, 2008
Offline
Best way to max out the use of this card is to max out the Grocery/Gas each month.
MBNA.ca gives you a pretty good outline of charges (instantly) as they occur and it also gives you the date of when your Billing Cycle Begins/Ends.
If you are approaching the end of your Billing cycle but have not spent $600 in Gas/Groceries, i'd max out the 5% by doing the Gift Card thing until you've reached $600. NOTE: Should consider that temp authorizations on your account dont count towards the billing cycle you are in if they are still in temp status on the final day of billing cycle. This means if say today was the last day of your Billing Cycle and you spent $100 at a Grocery store, it wont count towards that billing cycle until the Temp authorization changes to a regular charge (which usually doesn't happen for 2-3 Days). So you wouldnt see this charge on the statement of your next Bill (only on mbna.ca)
djino
"Gift Cards are the way to maximize the use out of this card"
1:00 pm
November 26, 2008
Offline
Just received my card today. Took 18 days exactly.
Sent me a french one MBNA Argent Content (MC) Platine Plus (MD)
Are your Smart Cash Platine Plus?
When I called to activate it they started their bullshit with how with Platine Plus I could pay 0.99$ per 100$ spent to get an insurance that will cover my balance if I ever get an injury and can't pay my bills. Of course I told them to $*@& off.
Now I can't wait to spend so much money at the grocery and gas station!
Problem is that I'm living at my parent's house and our car got crashed by seomone who didn't do his stop and insurances declared our car scrapped. Of well I won't take profit of the 5% but since I'm moving to my appartment in half-august I will at least use the 3% cleverly!
Max
The day you become free is the day you work for fun.
2:24 am
So when it says co-op under gas stations, does it include red river co op?
I'm thinking since you pay, full, use your client number (or whatever it's called) and get the rebate cheque at the end of the year. Save an extra few bucks since pay in full at time of purchase on the card. Although would have to find out roughly the savings per litre, since domo, shell, safeway, superstore says right up front how much you save at the time of the fill.
As a side note, sobeys doesn't carry cdn tire gift cards. I'm thinking get them from the gas bar for the store. I'm sure anything bought at the gas bar would get the 3%. Or does the computer know what purchases were gas vs magazines, pop, candy, lotto tickets or what not 🙂
10:14 am
December 12, 2008
Offline
MBNA doesn't see items on a purchase, only merchant code.
Anything bought at CT gas bar would qualify for 5%/3%.
djino
9:44 pm
November 26, 2008
Offline
Oh and btw, the card has a very clean sexy look.
The day you become free is the day you work for fun.
11:52 am
Just got my 1% card in the mail. Phoned to upgrade, and they said since it is a new offering, have to send off another application (credit cheque). Twice from the same company with two weeks, hope it doesn't hurt my credit rating.
When it says co-op under gas stations, I assume that any co-op is applicable? I'm looking at red river co-op in Winnipeg. Just have to figure out roughly how much is saved per litre when the annual payout is made 🙂 Rather than saying you saved x cents a litre right away at shell or domo....
11:13 pm
November 26, 2008
Offline
This is very weird since I consider my switch from StudentAWARD card to SmartCash an upgrade but they have not asked me to send another apply form....
You must have fallen on a picky represent of customer service...
The day you become free is the day you work for fun.
7:45 am
December 12, 2008
Offline
Max said:
This is very weird since I consider my switch from StudentAWARD card to SmartCash an upgrade but they have not asked me to send another apply form....
You must have fallen on a picky represent of customer service...
+1. Agreed.
I've said it before, MBNA never needs to pull another report when you are NOT applying for more credit. Furthermore there would not be much change on the report if one was pulled recently. I would callback and speak to someone else.
djino
11:20 am
Prob too late, 5 mins after I phoned them. I'm sure the second credit check/application went through right away.
How much more credit they would actually give me anyway? Although saying that, if I get the same amount again I'm fine with consolidating both cards to get double my normal credit limit 🙂
11:49 am
Here is a summary of my dealings with MBNA:
-searched internet for best credit card and found MBNA mentioned many times
-applied online for MBNA Premier Rewards Platinum Plus (read that you need to have one MBNA card before you can ask for Smart Cash Card)
-after weeks of no response, I called today and they said I was approved for $15000 limit and I would get the card soon
-asked about the Smart Cash Card and was told I could apply for one directly without having the first card - cancelled the application for Premier Rewards
-was transferred to a CSR in India who said that the Smart Cash Card promotion is not available at the current time, but to call 1-888-876-6262
-called it and gave new application info for Smart Cash Card while having to agree to another credit check
-was told I am approved and will get card in 2-3 weeks
-no promo code needed & no existing account with them needed
-just confused: Why is Smart Cash Card not available online? Why was I transferred to India who says they cannot offer it, but in at the Cdn. number they can?
IS THERE SOME KIND OF CATCH WITH THIS CARD??
10:20 am
November 26, 2008
Offline
I don't think there's any catch with the card since I've got mine without any problem and I read all the liability and there's nothing unexpected to worry about.
I just think their customer service are not formed very well about the procedure to hand out that card and they just treat each customer differently when they do not know what to do. So they transfer you to India so you get scared and stay with your old card.
The day you become free is the day you work for fun.
4:02 pm
If you're an existing MBNA card holder can you switch your current card for the cashback card? Or do you really have to apply as if you're getting a card from MBNA for the first time?
4:12 pm
May 15, 2007
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GlobetrekkerYYC said:
If you're an existing MBNA card holder can you switch your current card for the cashback card? Or do you really have to apply as if you're getting a card from MBNA for the first time?
Yes, you can switch. It's much simpler that way too 🙂
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