Help - MBNA 10% CC APR

rikmartin

I have just noticed that MBNA have increased my CC APR from 17.7% to 27.7% on a £4500 balance due to "business reasons"

I do not have a great credit score at the moment, however I have no late payments on any of my other accounts

I am only able to pay the minimum amount at the moment on this account!!

Can anyone help or advise me??

jonesMUFCforever

Phone them and ask for a reduction.
Are you still using the card or just paying off what is owed?
If it is the latter try asking for the financial difficulties section - they may take the card off you but you may get reduced interest rate.

jonnyb

in your position I would try to get a loan to replace the credit card debt; even with a weak credit history you should be able to get one for around 12.9%, or less - much better than the credit card rate.

just make sure you get one with no penalties for paying it off quicker, then once you can pay more than the minimum, you can start paying it off more quickly.

check out
http://www.moneysupermarket.com/loans/

dazed

call 0800 7831116 mon-fri 8-6 sat 9-1

Providing you have not made any late paymnts they should be able to review you. It does tell you this on a letter that you should have received.

Tell them you are looking to get the rate reviewed as you are going to struggle. But be nice

loveandlight

in your position I would try to get a loan to replace the credit card debt; even with a weak credit history you should be able to get one for around 12.9%, or less - much better than the credit card rate.

I agree. I would try and do this.