MBNA Credit Card interest for 1 day overdue

richardfj

Hi, i seem to be fighting a losing battle with MBNA over what i think is an unfair interest charge..

My due date was the Friday 2nd of January and i had a balance due of approximately £400 which i paid in 3 parts, the first two went through no problems and in time, the final payment for £92 to pay the balalnce due was paid on tuesday the 30th at 9pm. Their website says you have to allow 2 days clearance which i thought i had but hadn't taken into account New Years Day as a bank holiday. As such and because this payment was made after 5pm the money didn't credit my account until the 5th and i have incurred £9.80 charges.

I have had several heated debates/descussions with them but to no avail, they all claim the charges are valid and will remain, on the last call they also advised that even though i have just made my next payment well within time i will still incurr further interest charges that have accrued since the last statement!!!!!

I am very rarely late with my payments and indeed they kept refering to me as a full payment customer and yet seem intent on keeping these charges which will very soon see me as an ex-mbna customer, that doesn't seem to bother them in the slightest....

Are my expectations to high or are they being unreasonable? Is there anything further i can do or do i just have to put this down as a life experiance??

thanks

normanmark

Well you need to have taken into account public holidays. Nothing happens on those days. So in order for that to have cleared you needed to have paid it Monday or early Tuesday (before 3pm if i remember rightly).

I can see the frustration but MBNA have done nothing wrong in this instance, they told you the date it needs to be paid by & they've advised the time they need for payment to clear. It's then up to you to address this & get your payment in time.

For £9.80 and for something where its not their fault, i'd say put it down to experience & pay it.

nedian21

MBNA are always looking to rip their customers off. I had a similar bad experience with them recently. http://forums.moneysavingexpert.com/showthread.html?t=1443917

I wud suggest all MSE users to avoid MBNA .

exel1966

What does it matter whether 1 day late or 10 days late ? It's late.

They set a date, they tell you how long to allow for your payment to clear. It actually states ;-

When will my payment credit my account?
Payments taken before 5pm Monday to Friday will be credited to your credit card account in two working days. Payments made after 5pm or weekends or bank holidays will be credited to your account in three working days.
Payments made after 2.30pm on the last day of each month will take an extra day to credit your account.

You made a mistake, accept it and learn from it.

Your'e wasting your time and money by persuing it.

jonesMUFCforever

To balance things out I have an MBNA card - they have given me interest free periods, low rate interest periods and currently 6 month interest free on purchases.

I recommend MBNA ,

spendingmad

I have just discovered today that the interest rate on DH's MBNA card is a whooping 29.95% apr. It has crept up over the years and it was only this morning when I converted the monthly interest rate to a APR that I realised we were being done. One less customer for MBNA here.

Although it is our fault for not knowing this already! Not very MSE of me!

MarkyMarkD

I've said it before, and I'll say it again.

Pay your full statement balance by direct debit and you will NEVER be charged any interest.

It's only people who insist on paying by non-DD means that ever have problems with MBNA (or any other card operator for that matter).

anotherpaul_2

MarkyMarkD wrote: »

It's only people who insist on paying by non-DD means that ever have problems with MBNA (or any other card operator for that matter).

Actually, there have been a suprisingly large number of people complaining that they've been charged because the bank requested their DD payment late. I think this wasn't MBNA, but it's certainly not an accurate statement for "any other card operator".

Personally, I'll stick with managing my own payments. It's been fine for the last 12 years.

MarkyMarkD

I've never, ever, seen anyone say that they've been charged by a card operator because the DD was requested late (unless they proceeded to go and spend the money, so it wasn't there for the DD to collect). Would you care to show me such a thread?

anotherpaul_2

MarkyMarkD wrote: »

I've never, ever, seen anyone say that they've been charged by a card operator because the DD was requested late (unless they proceeded to go and spend the money, so it wasn't there for the DD to collect). Would you care to show me such a thread?

I shall have to withdraw my comment since I can't find the threads I thoguht I saw. Maybe I'm just getting old and halicunating? Weird. I was sure there were a couple in quick succession a few weeks ago.

Charliecherry

They (MBNA) have today done the same to myself (levied interest charges for a day late payment) but i keep it nice and simple as i explained to them today,please refund/correct and that way you will keep my business for future....failure to do so within seven days and i will redeem outstanding balance minus the interest........which you will whistle for!!! and never have my business again........quite simple really......