MBNA Credit Card
 

OK, so today I got my new MBNA credit card in the UK in preparation of moving over to the US and hoping they'll open a US based card account for me. What's the best way of using this card in order to build credit and/or make it look good to the US side of the company? Do I spend small amounts on it and pay the balance off in its entirety every month, or should I transfer a balance of one of my other cards and make modest regular payments each month? What looks better?

Re: MBNA Credit Card
 

The questions they ask MBNA UK are this -

How long has the account be active
What is the credit limit
What is the current balance
what ist the highest balance posted on this account
Has the account always been in good standing

And the decision whether to give you a card is made on those questions - I don't beleive how you used the card enter into the equation.

Patrick

Re: MBNA Credit Card
 

I think that Patrick has answered your question - use it as much as you can, let the balance climb a little, but pay it off completely after, say, three months; then use it some more.

Basically let MBNA see that you can build a balance and then pay it off. I'm not sure if it would make a difference but I'd use it to make purchases for a few months while paying down other cards (rather than transfer balances), then pay it off and repeat the cycle as many times as you can before you emigrate.

Thanx guys. Unfortunately I left it a little late to get this card, as I may be emigrating within a couple of months, but I suppose I can set up a direct debit and continue to use the card while I am in the US. Let's hope it works!

I have an MBNA card, it's no trouble paying it off with online banking with Lloyds TSB, just have to have enough in the bank each month (in the UK account obviously) and it doesn't matter where I am.