Repeat offers from MBNA?

poddle911

m8cky wrote: »

This now no longer applies; the new payment allocation legislation dictates that a payment will be allocated to the highest rate first. MBNA was the first to introduce this on the 1st of September; it means the higher rate can no longer be shielded.

See Splatt30's post above - the issue here is how the payments are allocated if all your balances are at 0% (or similar)

I've had the same experience that payments are applied to the offer that ends first, but it seems that you have to keep a close eye on it!

Rupert_Bear

Latest offers just come through from MBNA.

0.0% until 26 April 2012 on all balance transfers completed before 31 May 2011
A transfer handling fee will apply of 3.0% of the transaction (minimum of £3.00)
Transfer Balance










0.0% until 25 November 2011 on any new card purchases from £250.01 completed before 30 April 2011
No fee will apply













Balance Transfers

0.0% until 25 November 2011 on all balance transfers completed before 31 March 2011

A transfer handling fee will apply of 3.0% of the transaction (minimum of £3.00)

Transfer Balance















Money Transfers To A Current Account

0.0% until 26 April 2012 on all money transfers to a current account completed before 31 May 2011

A transfer handling fee will apply of 4.0% of the transaction (minimum of £3.00)

Transfer Balance


0.0% until 25 November 2011 on all money transfers to a current account completed before 31 March 2011

A transfer handling fee will apply of 4.0% of the transaction (minimum of £3.00)

Transfer Balance
















Retail Purchases

0.0% until 26 August 2011 on any new card purchases up to £250.00 completed before 30 April 2011

No fee will apply

thenudeone

mayling03 wrote: »

Agree with you here. I do have funds to clear it. Wonder if I ring up, would the advisors' know?

Well one of those that gave me information certainly didn't.
It's best to do the enquiry with a secure message, then it's very easy to prove later on what you were told.

thenudeone

m8cky wrote: »

This now no longer applies; the new payment allocation legislation dictates that a payment will be allocated to the highest rate first. MBNA was the first to introduce this on the 1st of September; it means the higher rate can no longer be shielded.

You didn't read my post carefully enough. Have another read of the circumstance that I was explaining.

scott_lithgows

Have got 3 however the Norwich + Peterborough one never has any repeat deals

m8cky

thenudeone wrote: »

You didn't read my post carefully enough. Have another read of the circumstance that I was explaining.

I did, I just didn't expand enough to cover your comment. The new payment allocation will not only take the higher rate of interest first but also allocate the payment to the blance with the shortest time left on promotion. Give them a call and ask them to clarify.....

thenudeone

m8cky wrote: »

The new payment allocation will [cut] also allocate the payment to the blance with the shortest time left on promotion.

No it won't. There is no obligation for card issuers to do so, and mbna do not allocate it in that way. I have their cards and know exactly how they allocate payments.

bouncydog1

If you are unsure how MBNA will allocate the payments, email them from your account when logged on.

I found they were very helpful, setting out each of the offers that I was taking advantage on, with start date, expiry dates and current balances.

I then just set up a spreadsheet with the information on - 3 offers split into 3 columns - and monitor it on a monthly basis allocating the amounts paid in the order they told me. Simples!

thenudeone

bouncyd!!! wrote: »

If you are unsure how MBNA will allocate the payments, email them from your account when logged on.

I found they were very helpful, setting out each of the offers that I was taking advantage on, with start date, expiry dates and current balances.

I then just set up a spreadsheet with the information on - 3 offers split into 3 columns - and monitor it on a monthly basis allocating the amounts paid in the order they told me. Simples!

I have done exactly that BUT mbna gave me incorrect information in the first message.
When I queried the balances later, I realised they were doing it differently to the way they had said.
I pointed this out and they agreed to honour the original incorrect message.
When I queried the balances a few days ago, I realised they were still not doing it as they had agreed.
They have now said the earlier messages were incorrect, and refused to honour their own agreement!
Looks like another complaint is brewing.

m8cky

thenudeone wrote: »

No it won't. There is no obligation for card issuers to do so, and mbna do not allocate it in that way. I have their cards and know exactly how they allocate payments.

I can promise you they do, I have PM'd you.....