MBNA rate increse..get rid?

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Any
Any Posts: 7,944 Forumite
First Post First Anniversary Combo Breaker
Hi guys,

I have a dilemma at the moment.

I have MBNA and Virgin card. I received a letter of rate increase for both. I am not going to be affected for either, as both are on special offer and will be paid off when the offer is out.

BUT

once I do pay them off should I keep them? I can just call in now and say that I do not agree with the increase and it will be closed down the moment it is paid off.

Or do you think there will still be offers available even with 24.9%APR cards?

I always kept the MBNA cards because they offered special offers... but why would they put up interest to 24.9% and then still offered special offers? Why just not leave it? I think they don't like me anymore that is why they have done it..

Time to get rid?

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    First Anniversary Photogenic Name Dropper First Post
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    Keep it, as long as you're not holdiing too much of an overall credit limit. They're likely to give offers in the future - it's only the go to rate they're changing, and that's just a sign of increased risk across all the card base. The special offers can be more accurately targeted to the good people. I'm sure you're one of them.... :)

    So pay off but keep - at least one of them.
  • chattychappy
    chattychappy Posts: 7,302 Forumite
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    Agree totally with zx81. Good advice for 1K of RAM!
  • Any
    Any Posts: 7,944 Forumite
    First Post First Anniversary Combo Breaker
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    Hmm... my exposure to credit wasn't high when I got the cards, but nowadays might seem too much to some lenders.

    I have all together about 90% of my salary in available credit..
  • KingElvis
    KingElvis Posts: 4,100 Forumite
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    Agree totally with zx81. Good advice for 1K of RAM!

    Unless you have the 16k ram pack and some bluetack :rotfl:
    "We want the finest wines available to humanity, we want them here, and we want them now!"
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    First Anniversary Photogenic Name Dropper First Post
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    I'm afraid I'm the 1k model. And worse than that, the kit version that you had to solder yourself at home.

    Still, not bad for £99....... :embarasse
  • chattychappy
    chattychappy Posts: 7,302 Forumite
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    I'm afraid I'm the 1k model. And worse than that, the kit version that you had to solder yourself at home.

    Still, not bad for £99....... :embarasse

    Sure... and unlike the ZX80, you do have flicker-free "slow mode" !
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    First Anniversary Photogenic Name Dropper First Post
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    I may not be the fastest processor in the box, but I resent being accused of being in 'slow mode'. :)
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