late payment - lost 0% bal transfer deal

legg_green

Have MBNA card. Paid monthly payment one day late. Interest charged on £2000 which I had transferred at 0%. When I enquired I was advised that late payment resulted in me losing my entitlement to the 0% offer. My fault but thought others may like to know. If this is covered elsewhere on this forum already, sorry, delete if you have to. I've now tarted the amount back into a different 0% card.

virgin_moneysaver

had new T&C sent by Amazon Card (Halifax) - they now say that if you are late or pay less than the minimum, the balance is subject to the standard interest rate

dixie_dean_2

This standard practice and happened to me, luckily when I was in a position to pay off the card anyway. If you kick off a bit they will, at the very least, put you on a low interest rate, drop the charge for not paying and reduce any inteerst charged to the low level they offer you.

frivolous_fay

This happened to me with Virgin (which I think is MBNA)

dazed

You can have the 0% re-negotiated if its your first payment after you took out the card .... if not them may put you on a lower deal

call the loyalty department on 0800 7831116 at MBNA and they will review your account

peawack

legg_green wrote:

Have MBNA card. Paid monthly payment one day late. Interest charged on £2000 which I had transferred at 0%. When I enquired I was advised that late payment resulted in me losing my entitlement to the 0% offer. My fault but thought others may like to know. If this is covered elsewhere on this forum already, sorry, delete if you have to. I've now tarted the amount back into a different 0% card.

That's typical MBNA. They are predators. They give you enough rope in the hope that will hang yourself.

dazed

peawack wrote:

That's typical MBNA. They are predators. They give you enough rope in the hope that will hang yourself.

But they will negotiate the rate back or to a lower rate... More than can be said for other companies.

Call them and see what they can offer

Gorgeous_George

They are not a charity and to be able to do these deals somebody else has to pay. Just like the bank charges, those less fortunate end up being screwed.

To avoid missing a payment, set up a direct debit to pay the minimum each month.



GG

accountnurse

My first payment to MBNA Virgin was late, I phoned when I realised my DD wasn't in place. They did charge me the standard late fee but I didn't lose my 0%, and they didn't register the late payment on my credit file. I made the same first payment error a few years ago with Barclaycard, I didn't lose the 0% and they refunded the late payment fee but they registered the late payment on my credit file.
I don't mean to be rude to dixie dean, but I have never found kicking off when you're in the wrong very successful. What worked for me was making an immediate payment and phoning in a (genuine) panic to say I just realised I'd made a mistake, and that I knew it was my fault but does this mean I'm going to lose my 0% offer? Both Barclaycard and MBNA said technically I should, but they were allowed to 'overlook' one late payment-both said paying straight away and phoning in (before getting a late payment letter) count in your favour.

dazed

You will always get your rate back with MBNA if it the first statement sent out after applying for the card. They will make you feel bad about it (as I have don before) But you will get the rate back ;-)

The_Boss

This is held in the terms and conditions of most balance transfers, so I fail to see how MBNA are being 'predators'.