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Mysterious MBNA interest rate increase
grey_lady
Posts: 1,047 Forumite
Hallo,
I'm sure i read an article on this site a couple of months ago about MBNA and the fact that they have put up their interest rate for some customers without any explanation as to why. Well i'm one of them, despite me spending a year making good progress paying it off and getting the account under control etc because about two years ago i made some late payments i have now had my increased rate increased from 16.9 to 24.9% and when i phoned them up to complain they suggested i contact their subsiduary company 'Total credit solutions' for a secured loan.
This seems really unfair - does anyone have any suggestions for me?
(rating isnt good enough to balance transfer elsewhere because MBNA still have me down as being on an arrangement even though i'm making more than the min payments on time and have been for a year)
cheers.
I'm sure i read an article on this site a couple of months ago about MBNA and the fact that they have put up their interest rate for some customers without any explanation as to why. Well i'm one of them, despite me spending a year making good progress paying it off and getting the account under control etc because about two years ago i made some late payments i have now had my increased rate increased from 16.9 to 24.9% and when i phoned them up to complain they suggested i contact their subsiduary company 'Total credit solutions' for a secured loan.
This seems really unfair - does anyone have any suggestions for me?
(rating isnt good enough to balance transfer elsewhere because MBNA still have me down as being on an arrangement even though i'm making more than the min payments on time and have been for a year)
cheers.
Snootchie Bootchies!
0
Comments
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Don't know whether this might be an option but could you get a 0% card from your bank? If the MBNA default was a blip and you have a solid history with your bank, it might be a way out. Worst they can do is say no!0
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Have pm'd you.2014 Target;
To overpay CC by £1,000.
Overpayment to date : £310
2nd Purse Challenge:
£15.88 saved to date0
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