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.

latecomer

I suspect there were term and conditions attached to the rate you were offered which you must have violated. Why dont you ask them why its been changed?

YorkshireBoy

donnajones wrote: »

Any ideas as to what to do...

Raise the issue with customer loyalty on 0800 783 1116. If you're not satisifed with the response, make a formal complaint

...and then set up a better filing system!

firesidemaid

this has happened to me (2003) and others on here too.

my experience was that they cold-called me to offer me a deal - i said i had a great low LOB with another bank and that unless they could beat if then no thanks - thinking they couldn't beat and and would go away.

they undercut it by a third - so i double checked that it was for the LOB etc etc and arranged to move my balance.

after 6 months the interest upped massively - seems it wasn't a LOB but a 6 month deal! i had to write in as the normal customer services couldn't deal with it. they basically regurgitated a standard answer but at least then i had a contact name/no. it took quite a few phone calls and finally one long one where they rang me on my mobile and they agreed to honout it.

with me, there was no way i would have given up the LOB i had for 6 months on a lower rate - the balance was too high. they had no record of the call and i think it also help that i was prepared to go to the ombudsman - i let them know i had done it before with my endowment, and had won.

i made them send me a letter at this point which confirmed this. they said they would have to keep re-applying it every 6 months, which they never did, i always had to ring and remind them.

about 12/18 months ago i rang as usual and reminded them to reapply the rate and they said 'we'll give it to you for another month until you find another deal!' er, i don't think so - they had no record of the letter from 2003. i had kept it and had to send them a copy - now they have the technology and have applied it forever!

don't be put off that you don't have the letter - write to them with all the info, including verbal, that you have. good luck x