MBNA Credit card

username__5

I have been stoozing from a MBNA credit card to purchase my car. Next month the rate goes up and I want to pay it off in full. There is currently £1000 on there by pay day I will transfer the remaining £1000.

My question is when I have done this I pay the minimum by DD each month to quarentee I dont start being charged interest. Do you think I will be charged the last £25 even when the balance is £0?

Any idea how I close the CC account? I know that it can be good to keep it open for offers they may do, should I leave it with a balance of £0 or close the !!!!!!.

Thanks in advance!

Dave

CannyJock

Yup, they will take the last £ 25 by DD (or they did with me and everyone else I know who's stoozed with them).

You'd need to check exactly when the promotional period ends and confirm this is after the payment due date if you wanted to pay them £25 short and let the DD bring the balance to £0.00.

Worse cast scenario is that you let them take the £ 25 then you just spend £25 in a shop somewhere. In a supermarket, you can ask them to take £25 from the Virgin card and pay the rest with another card or cash.

Personally, I'm holding onto mine. Either for a workable repeat deal or to transfer the credit limit to another MBNA backed card with a workable offer.

YorkshireBoy

In my experience, MBNA run card promotions always end on a statement date...never a payment due, or other, date.

Once the statement has been produced the DD collection (date and amount) is set in stone. The only way to stop it is to ring them at least 5-7 (your original DDI confirmation letter will tell you which applies) working days before the payment due date.

If you really want to close the account (but, like CJ, and for the reasons he gave, I wouldn't), the best number to ring is 0800 783 1116.