WARNING! - Virgin / MBNA and 0% deals - you wont get them back any longer if late etc

oscar52

Make sure you have a Direct Debit set up, or at least make sure you NEVER miss a payment or go over your limit during the promotional period.

MBNA have moved the goal posts..... unless EXCEPTIONAL circumstances or bank error, no matter how much grovelling or pleading you do, you will NOT get your 0% back, you will only get 0.9%.

This takes effect from tomorrow - or just over two hours if your more of a night owl.

marksoton

Sorry but i am confused. In what way have MBNA moved the goalposts ?

If you fail to pay on time has it not always been the case they can remove the 0% deal ?

oscar52

marksoton wrote: »

Sorry but i am confused. In what way have MBNA moved the goalposts ?

If you fail to pay on time has it not always been the case they can remove the 0% deal ?

True.

But in most cases people could call in and plead. They more often than not would then get the promotional rate back, but may have to bear the brunt of one months interest.

Now all you will get offered is an alternative rate of 0.9% with no negotiations entered into.

withnell

0.9% is still pretty good - I think you should change the title of this thread, because its quite deceptive when the continuation of the zero percent was very kind of mbna in the first place

marksoton

oscar52 wrote: »

True.

But in most cases people could call in and plead. They more often than not would then get the promotional rate back, but may have to bear the brunt of one months interest.

Now all you will get offered is an alternative rate of 0.9% with no negotiations entered into.

Fair enough.

Still, as a lot of posters including yourself always advise you should have a minimum DD set up anyway.

I would imagine this is particularly relevant to someone trying to protect and retain a 0% card. If you don't then sorry no sympathy.

oscar52

withnell wrote: »

0.9% is still pretty good - I think you should change the title of this thread, because its quite deceptive when the continuation of the zero percent was very kind of mbna in the first place

Done.

And apologies - it was rather poorly worded in hindsight. Agree it was kind of MBNA, but this approach can be quite harsh dependent on circumstances

oscar52

marksoton wrote: »

Fair enough.

Still, as a lot of posters including yourself always advise you should have a minimum DD set up anyway.

I would imagine this is particularly relevant to someone trying to protect and retain a 0% card. If you don't then sorry no sympathy.

Absolutely correct, however it is suprising the number of people that think that a DD and a SO are the same thing and complaining because the due date has moved a day or two.

Also, people complain that they put they bank details down on the application, assuming this will set up a DD (which it doesnt and isnt very clear TBH) but it is only used as in identity check

red58triumph

lucky you!!................i'm with mbna, and they are ripping me off to the tune of 30.35% ........and if your late, they increase the rate that month but don't tell you ( its their hidden way of extra charges without it being seen as a charge ) ..worst credit card company i've ever dealt with....not for much longer i hope!!

marksoton

oscar52 wrote: »

Absolutely correct, however it is suprising the number of people that think that a DD and a SO are the same thing and complaining because the due date has moved a day or two.

Also, people complain that they put they bank details down on the application, assuming this will set up a DD (which it doesnt and isnt very clear TBH) but it is only used as in identity check

I am probably going to sound very harsh here but if people can't grasp those simple concepts then a CC is probably a dangerous thing to have in their hand ! :eek:

duggie1982

Like any other cc company, if you fail to agree to their T&C E.G. Dont pay in time then they put up the APR on a 0% agreement.

At the end of the day, if you dont pay on time then your have not kept their T&C and they should pull the rate. Why not?

Jemma-T

oscar52 wrote:

WARNING! - Virgin / MBNA and 0% deals - you wont get them back any longer if late etc

I think what you're saying is the person who agrees and signs a contract should stick to it. Anything else is just BS excuses by people not taking responsibility for their actions.

We all like to blame the banks but many of us don't like pointing the finger at ourselves.