MBNA Blues and a bit of a Pity Party

BonnyBunny

MBNA blues

I'm joining the growing voice against the MBNA credit card company who are much more interested in money and profit that any concern for their struggling customers. (Well, DUH :rotfl:) I was lured in by the promise of interest free credit for a year and thus I moved my other two CC balances to the MBNA card just before Christmas in an attempt to lessen the impact of my monthly bill - as I'm retired and on a low fixed income.

The first month - great, I halved my direct debit from £45 to £26 and I was happy. Then the problems started. We had to replace the car tyres and had to use the credit card (but supposedly there was zero interest on purchases for the first three months as well, so it had to be done.) BUT, one of those detestable automatic subscription renewals also kicked in and before I could act, it had taken me £100 over the card limit.

By the time I found out (which was by myself, because sure as hell MBNA didn't inform me) the minimum payment had doubled to £45 instead of the previous month. I was also charged £12 for going over the limit. Gutted, I decided to move £200 of my precious savings into the card, to make sure I was under the limit again, as well as paying the monthly minimum payment and thought I'd be in the clear.

But disaster struck! This month I found that they had charged £47 INTEREST on a supposedly interest-free card, which had taken me over the limit yet again despite all my efforts and thus charged me another £12 overpayment fee AND put up the minimum payment to £89.

Reeling from this double whammy I've had to act fast to close the account and pay it off by transferring it to another company (Lloyds TSB) with a card limit that gives me enough room to make mistakes. I'm still waiting for the result - and half expecting a begging letter from MBNA asking why I've left them and promising me the earth if I return. They can stuff it where the sun don't shine....and I'll tell you why...

This whole incident has come at a very bad time. Petrol, food, VAT, electricity, coal, and all the basics have shot up and we can hardly make ends meet, even with all the savings we have tried to make. We can now only live very frugally, never going out, not seeing friends, never travelling or having holidays, never buying clothes or non-essentials and even then fretting every single day about how we are going to survive. I'm sure I speak for many when I say the last thing I want is to be stung by a credit card company piling on the agony. Perhaps £89 is peanuts to THEM (with a million pound bonus to take home) but to ME it's a week's food shopping lost.

I'm not a weak person but I was reduced to tears when I looked at the latest statement. And I think MBNA are laughing all the way to the bank" at what they have done.

noh

They did exactly what was stated in the T+Cs. Your interest free promotion was removed because you exceeded your credit limit.

What would you expect them to do?

Meadows

We have an MBNA card and have no fault with the company, but then again we use the card and pay the bill each month. Not exactly their best customer as they get no interest from us but we get reward points ☺

Don't think you can blame MBNA for your error, the penalty rates would be quite open for you to see when signing up to the card and it is instances like this that enable them to offer interest free credit when you stick to your limit.

jen245

Reeling from this double whammy I've had to act fast to close the account and pay it off by transferring it to another company (Lloyds TSB) with a card limit that gives me enough room to make mistakes. I'm still waiting for the result - and half expecting a begging letter from MBNA asking why I've left them and promising me the earth if I return. They can stuff it where the sun don't shine....and I'll tell you why...

Lol, somehow i dont think they will be doing that!! :rotfl:

OMAR

Agree with other posts....all your own fault....its a company there to make money!

Any

OP all of what you think was imposed on you just because it is MBNA would habe been imposed by every other credit card as well.
You screwed up, and I doubt MBNA will promise you anything to lure you back.. What you've done screams high risk to anyone..
I feel for people with hard life, but you are barking at the wrong tree here..

Rupert_Bear

I again repeat that as far as I am concerned MBNA are the best. Unfortunately so many people having difficulty comprehending the terms and conditions and as such rather than the customer taking responsibility themselves find it easier to vent their frustration on this board by slagging off the company.