MBNA platinum card

Saint_AAI

Hi, I've got an MBNA platinum card that had an initial APR of 12.9% when I first took it out. They gave me a 0% offer on balance transfers for 13 months, but when it ran out they upped the APR to 29.9%. I moved all the debt off and a few months later they offered me another 0% deal so I moved other debt back on. That has now expired so I need to move it off quickly again, but has anyone had a similar thing where they give a reasonable rate then upped it by a large amount as the 0% offer expired??

_Andy_

Yes, there has been a lot of discussion about this already on the forum.

oceanscape

Yes, it happens all the time. They're just trying to get back the money they lost during the 0% deal. My Virgin Atlantic AMEX was 16.9% and fired up to 27.9% when my 0% BT deal expired. I then cleared the balance in full and they offered me another 0% deal until March next year.

Bobby75_2

They do it all the time hoping that you'll not notice and continue to use your card regardless. I guess some must do or else they wouldn't do it.

I always change my credit card just before the end of the promo period - just like car insurance etc.