MBNA=Don't

Taff73

DO NOT TOUCH MBNA!!!!!

I have an MBNA credit card, which they have put the interest rate up to 34%, when I wrote and asked why this interest rate had gone up 16% they could not give me a reason, but just said it is a variable rate card its gone up. After checking my credit score which was 950+ I basically could not get much higher and the fact I have never missed a payment and in the last 12 mths have payed the card off twice. They refuse to do anything about it. The two other variable rate cards I hold have dropped 6% each to 12%.

So it is basically we do as we want and screw you with MBNA. The matter has been passed to the Financial Ombudsman services and also BBC watch dog. I am also in the process of setting up a web site, which will point out the robbing ways of MBNA. The more customers I can put off from MBNA the better.

Top Credit score, highly secure job, not one default and MBNA can still not justify this extortionate rate of interest and when you speak with them on the phone, they are ignorant as........... well I can't say pigs, as that's unkind to a pig. If I was in financial trouble or a bad payer I can understand a higher interest rate. But I am not.

Interesting fact as well, is that it all started after I cancelled the payment protection insurance on my card, as i have never used it or never will.

fozmcfc

You have a variable APR, they have varied it, get over it.

Don't like it, tell them you don't accept it, close the card and pay it off at your current APR rate.

You have basically very little rights, they can choose whether or not they want you as a customer and at any time can end the agreement without any reason given.

Taff73

The card is payed off, just won't put up with Bank bullying. With attitude like yours no wonder banks get away with it. More people stood up to them the better

aimingforadebtfreelife

Credit scores are worthless - you could have one of 999 and still get turned down. Companies use their own credit scores to determine limits/ rate rises etc. You paid the card off twice you mention, at the end of the day you are not making them any money and as such they are raising the rates which they are entitled to do. Everyone could stand up against them but it wont do any difference. For every customer what leaves they probably sign another 3 up.

If they upset you, phone customer relations and threaten to leave... if they don't offer a compromise then leave, simple as.

bengalknights

If the cards paid off then you dont have to actually worry about the interest rate rise it will only effect those who dont pay in full which in the times where people are going bankrupt etc you cant really blame them for trying to actually make some money back and recapitalise.

Taff73

Im not worried about the card, as I say it is payed off, but at the end of the day, I will still keep pushing ahead, as it may stop them from doing it to someone else or if enough people do it, it does affect them, when people stick together they can do a lot of damage to companies.

jonesMUFCforever

Taff73 wrote: »

Im not worried about the card, as I say it is payed off, but at the end of the day, I will still keep pushing ahead, as it may stop them from doing it to someone else or if enough people do it, it does affect them, when people stick together they can do a lot of damage to companies.

You have as much a chance of counting all the sand grains in the Sahara!
You are lucky you don't owe them anything - just remember this MBNA are one of the best to offer 0% deals to existing customers so don't be too hasty in closing down your account.

Hax

Taff73 wrote: »

Im not worried about the card, as I say it is payed off, but at the end of the day, I will still keep pushing ahead, as it may stop them from doing it to someone else or if enough people do it, it does affect them, when people stick together they can do a lot of damage to companies.

I doubt you complaining will do much - sounds like they're already hinting to you that they no longer want your custom.

Rupert_Bear

Taff73 wrote: »

DO NOT TOUCH MBNA!!!!!

I have an MBNA credit card, which they have put the interest rate up to 34%, when I wrote and asked why this interest rate had gone up 16% they could not give me a reason, but just said it is a variable rate card its gone up. After checking my credit score which was 950+ I basically could not get much higher and the fact I have never missed a payment and in the last 12 mths have payed the card off twice. They refuse to do anything about it. The two other variable rate cards I hold have dropped 6% each to 12%.

So it is basically we do as we want and screw you with MBNA. The matter has been passed to the Financial Ombudsman services and also BBC watch dog. I am also in the process of setting up a web site, which will point out the robbing ways of MBNA. The more customers I can put off from MBNA the better.

Top Credit score, highly secure job, not one default and MBNA can still not justify this extortionate rate of interest and when you speak with them on the phone, they are ignorant as........... well I can't say pigs, as that's unkind to a pig. If I was in financial trouble or a bad payer I can understand a higher interest rate. But I am not.

Interesting fact as well, is that it all started after I cancelled the payment protection insurance on my card, as i have never used it or never will.

Well I have been with them quite a few years and my apr is about 11.5 percent. Always get loads of promotional offers and would say their card is the sharpest one in my pack. -+

PNPSUKNET

fos will say its a commercial decision, if dont like it tough.

chattychappy

Taff73 wrote: »

Interesting fact as well, is

...you posted the same nonsense here https://forums.moneysavingexpert.com/discussion/2950676