So Angry

DilbertJones

Just found out I am being charged 35% APR at MBNA, i moved a balance to them ages ago as it was interest free, foolishly i never realy reduced the debt and now I am sure it has risen dramatically.

I am calling them now to try to get the APR down, before i move most f the balance to a life of balance card @ 6.3%

My outstanding debt an MBNA is £4240 and I have £3560 on the Barclaycard Platinum (thanks to Martin for that one)

Hope I get a positive response as it will still be a few months before i can clear the remainder and I bitterly hate that rate!!!

:mad: :mad: :mad: :mad: :mad: :mad: :mad: :mad:

nzseries1

Yes, that is an awful rate, but it seems to be happening to an awful lot of people... their promotional rate ends and they get hiked up to 34.9%! Hope that doesn't happen to me when my promotional rate ends!

DilbertJones

wish I checked sooner, stupid me for not paying any attention to it and not clearing the balance down in the promotional period.

Some ok,ish news though a 10 min phone call and they have reduced it to 24.9% still not great but a 10% reduction is pretty impressive.

Will now shift the majority of the debt.

nzseries1

Hey well done, nice to hear!! :beer:

bella2121

so they just reduced the apr because you asked them to?

DilbertJones

yes they did, i was amazed really as all I did was ask

dhassen

if you're nice, it is possible to get them to decrease the APR (if it's shot up that is).

Well done for getting them to knock off 10%!

They upped my APR from 15.9 to 29.9 about a year and a half ago when my initial 0% deal ran out (virgin card), and I complained about it. They put it back down to 15.9 and (thankfully) it hasn't gone back up again. They offered me a new 0% deal this year. If you're reasonable on the phone MBNA seem pretty good to me

latecomer

I know its a bit late for that card but make sure you keep track of the debt from now on to make sure you dont get stung again.

DilbertJones

yes I think I will be paying more attention from now on to all my finances.

Life just took over really, work got busy etc etc.

latecomer

Thing to do is you haven't had any missed/late payments then it might be worth applying for a new card which offers 0% for balance tranfers. If you are not sure about your credit file, get a copy either using a free trial or by paying £2 and getting it in the post.

bella2121

wow thats good i think i'll ring mine and ask them for a decrease i suppose nothing lost worst they can say is no