Abbey Credit Card - Sharp Practice?!

Swiss_Toni

I got an Abbey Credit Card with the "0% Balance Transfer" offer and was given a £5k limit.

Not a problem, I transfered £4750 from another card (just before their 0% deal ran out) and asked if I could have a hight limit, say £7500?

Abbey (well, MBNA who run it for them...) said "no problem" and I asked to transfer a further £2k.

All was going well until the chap said "...there will be a fee of £35....".

It turns out that the first transfer is free, the rest they charge 2% (limit £35) on!!!!

I HAD read the small print when I applied, and it states they "MAY" charge a fee for transfers - now given that they marketed this card on the Balance Transfer Deal you'd have thought that would be the sweetner? (Nope!)

And of course, it is the Balance that you pay off first and the fee is the last thing to get paid off (AND THAT FEE DOES ATTRACT INTEREST!!!)

Not impressed. So much for clear English in financial small print - no where does it say what the circs are when the "MAY" charge a fee becomes "WILL" charge!!!


Needless to say I will be closing my card just as soon as the interest free period ends.

Mind, I was going to do that anyway....

deemy2004

Got an Abbey card, and its clear in the small print that you will be charged 2% fee, the maybe comes in that if its on opening its highly likely you won't be charged, but best to ask. Virtually ALL subsquent transactions WILL be charged 2%, capped at £35.

Nothing sharp about this practice.

The onus is on the client to understand the terms & conditions and possible charge before instigating the balance transfer.

Swiss_Toni

(Just re-read the small print)!!!!

I know Abbey do a number of different offers, so maybe the conditions are different, but it still states on mine..

"1f - We may charge a handling fee for balance transfers..."

I HAD read this before I took the card out - NO WHERE does it say when they will and when they won't charge this fee!!

"Got an Abbey card, and its clear in the small print that you will be charged 2% fee, the maybe comes in that if its on opening its highly likely you won't be charged, but best to ask. Virtually ALL subsquent transactions WILL be charged 2%, capped at £35." - It does not say this!!!

Not bothered, just thought it should have been clearer?!

prenticesa

I've had an Abbey card for about five months. I've made a total of five BTs and not been charged any fees.

I made three BTs when I first opened the card, and have since increased my Credit Limit twice. After each limit increase I have made a BT.

I read the T&C, and noticed the 'may charge' clause. I arranged my BT's via the phone, so that I could explicitely check that there would be no fee.

Maybe I'm just lucky

Swiss_Toni

Can you tell me what number you are calling?

Is your card the "Balance Transfer" card?

"May" charge does seem pretty poor small print!!!

ffacoffipawb

Abbey is just a rebadged MBNA.

As are Virgin and Alliance & Leicester amongst others.

Magentasue

This happened to me a while back. It definitely said 'may' and said that I would be notified. I wasn't notified and complained -charge was refunded.

prenticesa

Swiss_Toni wrote:

Can you tell me what number you are calling?

Is your card the "Balance Transfer" card?

"May" charge does seem pretty poor small print!!!

It is a 'balance transfer' card - 0% for 9 months.

I think the phone number is printed on the back of my card, either that or on the statement / welcoming letter.

Swiss_Toni

prenticesa wrote:

It is a 'balance transfer' card - 0% for 9 months.

I think the phone number is printed on the back of my card, either that or on the statement / welcoming letter.

Hmmmmmmmmmmmm

Same as mine then - I called again this morning and they confirmed that only the first transfer is free, then they charge the 2% (max £35) fee, the transfer is 0%, the fee is not.....