4.9% for 4 statements 14.9% GO-TO Tele-sales would not give me a Platinum plus due to my sucky Limit. But my 23.99% went to 4.9% for 4 months then 14.9% !! This is definitely a MBNA Backdoor!
Hey Sam! First time poster... long time reader... That's great news. I received the LOC as well and have been wondering what I could do with it since I wasn't going to use it for an Apple. Just out of curiosity, what was your limit and what's the minimum for Platinum Plus? I got $4000 and I would guess that's not enough but who knows. But I'll take a classic anyway and upgrade in a few months! Thanks for all your countless information. It was your posts that allowed me to get my 2 Citibank Mastercards last August using the BDD technique.....
Here's the procedure. $5000 for platinum plus $10K for quantum 1. Call up convert your LOC to Gold RESERVE option. Tell them you want to use the access checks instead of the apple loan. You'll lose the 6 months 0% however. 2. Call up after a few more days when they have issued the GOLD RESERVE . You need to call "TELE SALES" do a search. Ask the lady to convert your gold reserve to mbna preferred mastercard. You can pick up an affiliated one if you like. Bam you are in the door, without the security checks.. good luck, and try that Citi BDD again!!
Thanks for the info. And guess what, I just tried a Citi BDD yesterday. No instant approval, just said 'they'll let me know', so we'll see how it goes!
Sam, Congrats. Just for clarity: The Gold Reserve and Gold Option are two separate loc's. There is no "Gold Reserve Option" loc. If people want to use a loc as a BDD to a credit card - they need the Gold Reserve loc. Also - it is possible to go through the mbna wesite to apply for a Gold Reserve loc directly and state what you want the credit line to be. If people go through the Apple route (i.e. Gold Option) - it will take an extra step to convert that loc to the Gold Reserve and then to a CC product.
Brenda, The Apple Loan is the same LOC as the PC Mall and it is from MBNA. MBNA also LOC for Blue Nile Jewelry and it is also a LOC. Here is the link to apply: http://www.bluenile.com/services_channel.asp?track=50 Ron.
Marci, I got the apple loc and combined directly with quantum. I didn't have to do any extra step. Maybe the extra step is needed for a conversion, but not for combining? I'm just fishing with that guess.
I think you're right re the difference between combining and converting. "Combining" a credit limit into an already existing CC line is just a matter of granting a credit limit increase on the CC that matches the credit line on the loc, and then closing the loc. It's just moving numbers around - and MBNA anaylsts seem to be able to change credit lines at will (like the AmEx MORE team, but unlike Cap One retention). "Converting" an installment account into a *brand new* revolving account may take more work, because there is no pre-existing revolving account to increase a credit line on in the first place. So you have to create a revolving account... But, like you, I'm fishing with a guess as well. The Quantum CSR said that a Option could not be converted but a Reserve could.
would be interesting to know, i have an apple loc sitting on my credit report that i dont plan on using again. just wanted the 6 mos same as cash option. i saved over $200 doing it!
