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MBNA : Minimum payment rise?

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Comments

  • Every card holder is sent a letter whenever there is a change in the terms and conditions of the account. Ask whoever you speak to to check the notes. it is automaticly imprinted into your accounts history.
    On top of this it tells you on your statement. If you don't read your statement it is not a bank error if you fail to make your minimum payment
  • Spark
    Spark Posts: 817 Forumite
    Loyalty said :
    Every card holder is sent a letter whenever there is a change in the terms and conditions of the account.On top of this it tells you on your statement. If you don't read your statement it is not a bank error if you fail to make your minimum payment

    No one has mentioned bank error, but sometimes MBNA do not send the letters they say they will send, I never had the letter of closure for the other account I had with them, and they did say they will send one when I called them to close the account, though it does say online that the account is closed.
    It is not a problem to me, as I said I check my active accounts online every week as I don't pay by DD and I've never missed a payment so far, and it's a good thing anyway to check regularly for dodgy transactions, but can be a problem for people who feels secure that the minimum payment will be paid anyway by DD and don't check their account as regularly.
    I was just curious to know if it was across the board and if other cards will follow suit.
    Credit cards should have a decent sized minimum payment, so I think MBNA are right to raise it.

    True, but such a sudden big rise can get some people into unmanageable debts......
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