MBNA Credit card Review Team closing account

technicaldna

I am in a rare fit of anger and feel insulted/betrayed by MBNA account review team.

Few months ago my old company started to place few jobs as being made redundant and my role was one of them..

I start preparing myself for this by looking into my finances proactively i.e selling my shares/ISA and paying off all credit cards to avoid interests..

I had one account with virgin money(MBNA) where i have to pay 4000£ i called the customer services team to check if they can help me by extending
My free balance transfer offer for few wks (it was about to expire and next rate was 17%)so that i can pay off in full and avoid 17% interests

After getting no help they told me to try my luck with account review team

Meanwhile I paid off all my 4000 outstanding balance because I don't want to pay 17% interest..

When I talked to one of the reviewer if he can help me to have my interest back or another good offer i.e (free purchases for some time)..
I was shocked when he told me that he can help me by closing my account since I am having financial troubles (do you think he was helping at this moment MBNA owe me 133£ due to direct debit overpayment)

Financially it’s not a problem for me by not having this credit account but it showed me how selfish, opportunist, treacherous, perfidious a company could be( or may the individual who was dealing with my query)

This short term financial trouble is over now as I am now working for a better company with a better job and pay ..And I was thinking yesterday night wills I ever have account with MBNA in future?
will i ever endorsed and recommend MBNA ?

I was never refused credit cards in the past, never missed or late payments with any credit card company and there is no previous County Court Judgments against me ..

Now you wrap it in with “ Responsible lending”, “every little help to avoid further problems/debts” or with other catchy words to hide the skin but it was very upsetting and selfish for me

Now my one request to you guys does this way closing account will affect your credit report ?

Should I register a complaint against this or this is normal capitalist companies approach and I should walkover it ?

Many thanks for reading my frustration

lisyloo

Companies are only as selfish as moneysavers.
This site encourages consumers to drop companies at the drop of a hat when it doesn't suit them and to get "consumer revenge".

We can't have it both ways.
I know it's very emotional being rejected, but I'm afraid there is nothing at all wrong with it.

Well done for sorting things out.

m8cky

If someone owed you money and they told you they might be losing their job and could they have longer to pay would you hold off giving that person any more rope for them to hang themselves with if they ended up finacially ruined??

All they did was 'close the account' this meant that any further browwing could not be achieved on that account, did they tell you that you had a period of time to pay the 4k off by (regardless of the promo rate ending)?

Finally, them closing the account will not effect your credit rating

technicaldna

initially they told me that they can't extend or help to give me an end date to pay the outstanding amount.
all they were saying was if i can't payoff than i have to continue paying 17% interest..

by the time my query reached to account review team i had paid off everything ...

but my concern was they should have checked my credit history or wait for some other indicator that i am a troubled /high risk customer (i.e missing/late a payment) before closing my account ..

its just don't make sense to me...for example other way around they will not do anything and will behave differently ..
if i call them now saying that actually that redundancy bring prosperity into my life .... not only i have got a decent redundancy package also i am in a better job now and after listening to this the account review team eagerly not only open my account but happily also increase my credit (I am sure in this case they will never do this)

anyway thanks for your help ..and agree may be i am feeling upset due to being rejected

m8cky

technicaldna wrote: »

initially they told me that they can't extend or help to give me an end date to pay the outstanding amount.
all they were saying was if i can't payoff than i have to continue paying 17% interest..

That's part of the deal, it's how they make money...

technicaldna wrote: »

but my concern was they should have checked my credit history or wait for some other indicator that i am a troubled /high risk customer (i.e missing/late a payment) before closing my account ..

What greater indicator does a company need than the Customer ringing and telling them they could very well be made redundant in the coming weeks?

Rupert_Bear

Unfortunately you set yourself up for a fall. You were being too honest.