MBNA turn the screws.Up to 3% transfer fee.

urbanfrit

Received an email from MBNA this morning:

"Take advantage of the low rate of just 6.9% per annum on your MBNA Credit Card.

This rate is available to you when you transfer a balance.....

.....You will be charged a handling fee for balance transfer transactions unless we have told you otherwise, of up to 3% of the transaction (minimum up to £3). "

What next?

The end of the £5 minimum payment?

We're doomed! _pale_

daveboy

In time, I'd agree. It just takes one to 'test the waters' and then others catch on.

Be interested to see if this one hits everyone, or whether it's similar to the annual fee that only affected a few.

I've always kept away from MBNA and I thank them for consistently giving me a reason to continue doing so.

Good avatar by the way, sums up what a lot of people think of MBNA at the moment!

urbanfrit

MBNA 'tested the waters' with the 2% transfer fee and the others certainly did catch on.
They have done me alright over the years though.
I used to look forward to a call from MBNA offering me an SBT for upteem thousands with no fee.
I think those days are gorn.

littlereddevil

I think mbna are one of the greediest and have ditched them. Can you not transfer to someone else?

Robert_Sterling_3

I have always thought that 0% credit cards are a bit like free cocaine.

bethyblue612

As in very addictive, but costs you nothing?? :-)

YorkshireBoy

As in "not to be sniffed at!"

DebtEverest

urbanfrit wrote:

Received an email from MBNA this morning:

"Take advantage of the low rate of just 6.9% per annum on your MBNA Credit Card.

This rate is available to you when you transfer a balance.....

.....You will be charged a handling fee for balance transfer transactions unless we have told you otherwise, of up to 3% of the transaction (minimum up to £3). "

What next?

The end of the £5 minimum payment?

We're doomed! _pale_

not quite
Their offer to me was 3.9% interest pa for a balance transfer (and I do believe a 3% fee). The fee was paid as part of the minimum payment for the first statement after the BT,
but, got the 2nd statement yesterday and all the charged me for my minimum payment was the months interest payment plus £5.