MBNA rate increase

HamiltonL

It's not something I see too often with Abbey, though it does happen. Every few months the odd person will be put on a different statement cycle. Couldn't explain as I've never had much experience of it. I assume it's justcompanies getting more eager for payments to arrive sooner.

mcrfan

Me too - with a Virgin card they have now increased this from 17.9 to 26.9 to 34.9%. I am not happy and am looking for any way to make a complaint. Doubt I'll get anywhere but I'm trying anyway.

cifpower

And I thought my Vanquis was bad at 34.9%!

HamiltonL

Sorry to be a pedant but...

Shouldn't it be MBNA (Abbey) rather than Abbey (MBNA) as it is technically MBNA who run those cards now.

daveyliver

LOL I have just nearly had a fit because my barclaycard is raising my apr from12.9% to 17.9% if they would have raised it to 29% i think the assassin in me would have come out:rotfl:

Anyway i owe nothing on the card but have spent tens of thousands on it so i have told them either the rate stays the same or the card does not get used:beer:

kitkat84_2

clio wrote: »

Hamilton
do you know why credit card companys move someones payment date forward for no reason at all ??

MBNA's payment dates are never on the same day each month. it can differ by 4-5 days each month. they can however set this for a more convient date for you - ie payment would never be before 1st of each month - just ask them to change it

kitkat84_2

HamiltonL wrote: »

Sorry to be a pedant but...

Shouldn't it be MBNA (Abbey) rather than Abbey (MBNA) as it is technically MBNA who run those cards now.

Although MBNA still service a small number of Abbey cards, the majority are now Santander

Petmidget

Just got the letter this today after work.

Apr up from 17.9 to 34.9%, called to get it lowered which I have done once before. Recorded message sayubg !!!!!! off but you can wait, got bored after 5 minutes on hold.

Luckily at mo only got 0% BT on there but it is ending in a month and not sure if I can recycle as limit is high and other cards I have got limits are low and no one seems to want to raise them, and my credit rating and debt history is pretty much perfect.

alanaccess

My son followed the advice given by Martin and set his direct debit to pay a regular monthly amount rather than the minimum payment. Virgin's response was to increase his interst rate to 34.9% so that his regular payment no longer covered the minimum amount required - 34.9%?. This is despite Virgin offering really good rates to new customers. My son has never missed a payment and it just seems that Virgin are hell bent on getting as much as they can from him. He has now signed up for two new cards (Asda & Abbey Zero) and is going to transfer the Virgin balance to them at 0%. He will then cancel his virgin card.
Has anyone else experienced this sort of fleecing of customers?

MABLE

I have found Virgin/MBNA one of the best card(s) to hold. Never had any problems and they are always offering me promotional rates. Present one 0% for 9 months etc.

Usually when you are being given a high APR it is because that customer is deemed as being very high risk. It may be idea for your son to get a copy of his credit report to see whether anything shown on the report would reflect such a high APR.