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An easy way to make over £150 for nothing! - MBNA Credit Card
MBNA 

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An easy way to make over £150 for nothing! (MBNA)

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Product:

MBNA
Date: 24/08/02 (113 review reads)
Rating:

Advantages: Easy money, No risk, Speedy bacs credit to your bank account

Disadvantages: err none!

The AOL / MBNA credit card is available to AOL members using Keyword "CREDIT CARD".

As a card itself, it does everything you expect ... no fee, 56 interest free days, 0% balance transfer offer! Don't forget though, they charge their full rate on purchases from day 1! Oh, and you get a free month of AOL worth £15.99 everytime your spends total £2500.

The best way to use it is as follows:

1. Apply and get accepted - this gives you 1 month's free AOL membership worth £15.99.

2. Take a cash advance by ringing the helpline for the maximum possible, benefitting from the 0% introductory rate. For each £2,500 advance, you get another free month's AOL - so for an £8,000 credit limit, you can advance £7,500 saving another £47.97 on your AOL subscriptions.

3. Place the advance in a high interest deposit account (I'd personally recommend Halifax Websaver paying 4.05% gross). Over a five month period, you should earn around £100 in NET interest on this sum as a basic rate taxpayer.

4. Switch the balance to a new card charging 0% interest at the end of the 6 month period.

So, £160 in your pocket in 6 months. For nothing!

The only thing I didn't try was taking an advance, banking the free AOL membership, repaying the advance and then drawing it again! I assume you get even more free months for this!

Summary:

Last members to rate this review:
(7 members total)
opinions4u%2Fmarkbuk%2FGR-Design%2Frdobbie%2Fbig+mummy%2FSueMagee%2F

View all 7 member ratings

Overall rating: Useful

Last comments:
GR-Design

- 24/08/02

Sounds ok, but I can pretty much bet that they wouldn't accept me and my bad credit score! Would have been nice to have heard more about MBNA themselves though, hence the U rating.
SueMagee

- 24/08/02

Hi Dave. I'm really soryy to have given you an SU, but you've only really told us about an offer that's there at the moment, and nothing really about the card itself. Once the offer's over the opinion won't be of any use.

If you decide to alter your opinion (click on 'change opinion' over the opinion itself and you can redo it if you want) mail me (link to my addy on my profile page or (at the moment) in the Guide box to the bottom left of this page. Sue :)


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