MBNA's Smart Cash Card - BEST CASHBACK CREDIT CARD EVER!!! | Page 2 | Credit card reward programs | Discussion forum

Ok here's the summary of my conversation with the rep who seemed really competent. Maybe because I asked for a srvice in french they haven't transfered me to they Indian customer service branch so the guy was better informed about the card.

So I just asked if I could transfer the StudenAward card I had just received to a SmartCash credit card. He responded that he couldn't do that without looking at my credit report so I would have to hold on the line. He got back to me 5 minutes later telling me I had to destroy my StudentAward card I had just received and I that I will receive my new SmartCash card with no annual fee, 5% cashback on the first 6 months and 3% for the following months over groceries and gas. He jst needed my conscent that I was authorizing them to close my currency account of my StudentAwar credit card and that I am willing to open another account for the MBNA SmartCash credit card. Of course he got my authorization.

That was simple and easy.

My credit limit will probably still be only of 1500$ but with my annual income of 14,000$ this year and with the fact I have been using my own L'EARN Visa credit card for 9 months now and have always paid my bills completly before the due date and also the fack I'm olding a coinjoint account with Mastercard Ultramar from Bational Bank, I had a 1 year credit history that looked trustable enough for a SmartCash conversion.

Good thing because I will stop working on the 1st of August for 2 years because I'm getting into my clerkship and will be "working" at the hospital 80 hours per week with no salary. So I don't think I could have ever applied to that credit card from the month of August when I won't be making a salary anymore. That was just the right time to apply.

Now that I got the best reward credit card on the market, I will never have to dream about better rewards each time I'm in a store waiting at the cash to sign my name on the invoice.

YEEPEE!!!!

djino said:

Great Stuff. Glad it worked out for you.

Though I'm not sure why they said they'd need to do another credit hit when you were not applying for new credit. I would have spoken to another rep if that rep insisted this needed to be done.

But anyways, it worked. Time for you to start spending Cash Money

djino

I do not actually think they did another credit hit. Logically, where I work we keep the credit files when we open new accounts for new customers and we can just go through the files without pinging Equi Fax over and over again.

Do you think they do not keep the records and would do another credit hit over a new account opened within 1 week?

Max

hey Cartoonchicken,

Although Stores like Wal-mart have a Grocery department/section, it is not considered by Mastercard to be a Grocery Store, so you will only get 1% there and at stores a-like.

What I've done though is buy Gift Certificates for these types of stores at Grocery stores. Example: Old Navy is currently having a 50% off all Mens-Wear. Purchases at Old Navy would be 1%, but I stopped at Metro (Grocery Store) and picked up $100 in Gift Cards for Old Navy (which I'll get $5 back from -- the 5%) and used it to shop at Old Navy.

Most Gas/Grocery store sell gift cards for other stores, its your best alternative to getting 5% back almost everything.

djino
"Goodluck"

Great replies on this thread. Brilliant quick math by Peter (is there anything he CAN'T do?). And djino, great idea about using gift cards to get the 5% cash back (this could add up if you're making large department store purchases).

MBNA's 1.99% AIR For the LIFE OF THE BALANCE:

IS THIS STILL AVAILABLE?

Answer: Yes. This promo has been out for about a year now. Although I believe you can apply online ( https://wwwa.applyonlinenow.com/CACCapp/Ctl/entry?sc=cean&lc=en_CA ), I think it maybe best to call and give them promo code CEAN.

SO WHAT ARE THE DETAILS OF THIS ACCOUNT?

Answer: This will give you 1.99% For the Life of the Balance Transfer created WITHIN THE FIRST 90 Days. This means for the LIFE of the Balance - UNTIL ITS PAID OFF. Balance Transfers are transfers made by MBNA to another credit card or another bank account. It can also be made by them sending you Access Cheques which you can use to deposit/pay to anything/anyone. NOTE: Any another type of transactions on this account (Purchases/Cash Advances/Balance Transfers post 90 Days) will get the 17.99%+ AIR towards them. Any payments made to the account will go towards paying off the 1.99% Balances leaving the purcahses/Cash Advances/Post 90 Day BTs to carry interest.

ARE THERE ANY HIDDEN FEES?

Answer: No, but there is a 1% Balance Transfer fee (well the greater of 1% and $7.50). You also DO NOT want to exceed your credit limit, DO NOT make payments less then your minimum, nor make any late payments as once this occurs, you lose your 1.99% status, and the entire balance moves up to the 17.99% effective then.

WHAT ARE THE MONTHLY PAYMENTS?

Answer: For most all MBNA accounts, thier minimum payments are always Interest + $10. Though your 1st statement will be "Interest + $10 + 1% Balance Transfer Fee. Example: A Balance Transfer of $10,000 would include a $100 Balance Transfer Fee. Assuming your average daily balance is this $10,100, your 1st Months Minimum payment would be Rounded Down Interest + $10 + BT Fee = $16 + $10 + $100 = $126. Your ongoing monthly minimum payments would be $26 or less (Assuming no other transactions).

HOW DO I APPLY?

Answer: When you attempt to contact the applications department, they may not find it. What you will need to say is "You found this offer in the mail or a friend of yours told you about it" as they may ask you for an OFFER CODE "CEAN".

djino
"Goodluck"