Repeat offers from MBNA?

izools

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.

This is correct. If you have three balances on an MBNA card, each on a promotional 0% rate, but ending at different times they payment will be allocated to the promotion that started first.

Example:

SBT @ 0% for 9 Months taken out on 1st October
BT @ 0% for 6 Months taken out on 1st November
BT @ 0% for 12 months taken out on 1st December

The payment will go towards the SBT first - because it started first. Once the BT @ 0% for 6 months comes to an end, and starts accruing interest, payment will go towards that even if some of the SBT balance is left.

And so on.

I hope this makes sense.

thenudeone

For the avoidance of any doubt, here is the latest message from mbna (I have removed the values):

from Customer Service

Thank you for contacting us. I apologise but the message replied to you on the 09/11/2010 was incorrect and all previous and correspondence since then has advised you the correct information. Your payments will be allocated to the promotional offer which began first and not the promotional offer which ends first. The balances previously provided on the secured message dated 04/03/2011 are correct. The 0% p.a. promotional offer on retail purchases is £xxxx, and will expire on the 26/03/2011. The 0% p.a balance transfer has a current balance of £xxxx, which will expire on the 26/09/2011.

The previous message was:

Received 09/11/2010

from Customer Service

Thank you for contacting us. For your play.com card your payment will be allocated to the promotional offer that ends first which will be the 0% which ends on the March 2011 statement date. And once that is cleared it will pay off the balance transfer that's on the 0% promotional offer until your September 2011 statement date. Many Thanks

So - not only did they give me incorrect information initially [which they admit], they are now trying to withdraw from their later agreement to honour the incorrect information, (which I had acted on it in good faith)!

And Bankers complain that they don't get enough sympathy from the public!!!

fozmcfc

izools wrote: »

This is correct. If you have three balances on an MBNA card, each on a promotional 0% rate, but ending at different times they payment will be allocated to the promotion that started first.

Example:

SBT @ 0% for 9 Months taken out on 1st October
BT @ 0% for 6 Months taken out on 1st November
BT @ 0% for 12 months taken out on 1st December

The payment will go towards the SBT first - because it started first. Once the BT @ 0% for 6 months comes to an end, and starts accruing interest, payment will go towards that even if some of the SBT balance is left.

And so on.

I hope this makes sense.

It does make sense, basically when the 6 month BT date is up, the customer has to pay the full amount to cover the 6 month BT unless they have cleared the SBT off after say 2 - 5 month, in which case repayments after the SBT is cleared will have gone towards the 6 month BT.