MBNA lied about their 6% balance transfer rate 'for the life of the balance'

donnajones_2

'6% balance transfer rate for the life of the balance'. I took up this offer...twice. The first time a number of years ago and this time around this time last year. This month for the 2nd time they've reneged on this promise and upped both the interest rate and minimum payment. Unfortunately I have misplaced the original letters. Yes, I'm an idiot.

Has this happened to anyone else?
Any ideas as to what to do (positive replies only please), would be gratefully appreciated.

DipStick

Are you sure you have complied with the terms that gave you the 6% rate?

Moon_Boi

DipStick wrote: »

Are you sure you have complied with the terms that gave you the 6% rate?

The OP probably missed the monthly payment by "just a day", and no DD set-up.

vet8

This happend to me on a Virgin card which is part of MBNA. They moved the payment day forward by 5 days, I paid late and they then stopped the 0% deal. I think they move the date forward deliberately to catch out the unaware.

I now check the payement date on that card diligently.

udydudy

thats why it is better to set up a Direct Debit with MBNA or Virgin anyway they take only £5/£10/£25 as the case maybe.

The banks are obviously there to make money out of people who do not which is quite a high percentage.

The moment you miss a payment all promotional deals are off. But MBNA/Virgin are a bit lenient in that when you call and plead they restore the deal.

But you gotta ask wheter you really want 6%?? in the current interest rate scenario? I think if you can move the debt and then call them up you might get a better deal.

HomeJames_3

Its happened to me with MBNA the payment date was changed and no DD set up and they doubled the interest rate!!