Mbna ?

My wife and I are joint account holders of an MBNA Gold Option Line of Credit Line with a credit limit of 16,500.00(account opened 12/98 in excellent standing). We recently paid it off(paid balance of 12,572.00 off) but we feel we could benefit from a credit card better. My question is-can we do a product transfer to say a Quantum card(MBNA requires a 10,000.00 limit) with not having to reapply or having a hard credit inquiry done again? Has anyone ever done this?? Thanks for any replies!

 

George, our interst rate is 13.99 fixed. I tried calling number aforementioned but they were closed. I'll call in am--Thanks

 

Here is what I learned. You have to apply for a credit card in order to combine accounts. The first rep. I spoke to said they could not combine a LOC and a credit card together. I didn't like that response so I called back and spoke with a different rep-She said yes you can)-1st-you must apply for a credit card, when you get the card approved, then you can combine your LOC and credit card limit(Your LOC must have a zero balance or it can't be done). I said oh what the heck, I will apply for another credit card--I asked, how long does it take to get an answer? I told the rep. we should get approved because we already have a large LOC(I learned this from Saar when dealing with American Express-if they decline you, you can get approved with the residaul line of credit you have) and I want to combine-she said usually if you do it over the phone you will get an answer within 24 hours--I asked , is there any faster, we have been excellent customers for awhile, have never been late and have made large repayments--she stated, please hold-I'll be back, She came back and stated I am transferring you to our MBNA bank--Spoke witha very nice gentlemen(credit analyst) and I gave him my information and he said I'll be right back(went to pull a credit report)--I was approved for the platinum plus cc(I went with this card but I can upgrade later to Quantum) and with both combined limits(LOC and Platinum Plus Credit Line), our credit line is at 2X,000.00. By the way , our LOC is a joint account so what I did was to apply individually with my information and added my wife as an authorized user. I live in Texas-mbna pulled Experian where my credit xpert score is 725--I know it's a long story but wanted to pass it along!

 

Saar, we got the MBNA LOC-it was a mail solicitation for us-our credit scores three years ago were scores in the mid 650' s.
I also got approved for a AMEX LOC when you brought to us on the baord a few weeks back--I applied individaully(Got the we notify you thingy)-I called two days later and was approved for a 2X,000.00 LOC. Experian score--725. By the way, it was a soft inquiry as you stated--it has yet to appear on my credit reports!! In my case, I hope it doesn't report--Thanks!