CC Charges - Is this right????

Johnny-Cash_4

Hi all,

I have an MBNA card which has been hovering near the limit for a little while but I've made sure to never go over and I'm trying to pay it back.

The big problem I have at the moment is the way MBNA charges me interest.

If I have a balance of £1450 say and my limit is £1500, they will charge me £52 but put this on to my balance. This means that, even though I've not gone over my limit, they PUT me over my limit which then charges me £15-£20. This means I have to pay an extra £20 every time. Ideally I'd pay the whole thing off or atleast over the odds so they can just lump this on, but this seems really unfair to me because I've not gone over the limit.

Is this normal and if not is there anything I can do about it?

Kind regards
Daniel

izools

Yes it's perfectly normal, part of the T&C, something you agreed to, and something that will happen with any CC in the land.

What can be done about it? Spend less, don't borrow beyond your means, and repay more so that interest you know full well is coming out, doesn't bring you back over your limit.

You say you have not gone over your limit - you say MBNA PUT you over your limit. This is incorrect. You were told how much interest was, what your limit is, and what you have to repay as a minimum each month. You agreed to these terms. You then chose to spend so close to the limit, that interest you agreed to pay, would bring you over said limit. If you didn't want interest charges, you shouldn't have used the card - or at least repaid it in full each month. If you didn't want over limit charges each month, you shouldn't have made the choice to spend right up to the limit.

For MBNA to NOT charge the interest that they do each month, would be breaching the terms and conditions that you both agreed to.

And they don't charge you £15-£20. They charge you £12.

peaches1955

i have received a letter from a company called aktiv kapital abou a credit card debt this was in 1996 it defaulted in 1997 i have not heard anything from the credit card company since then can anyone please give me some advice.

Thanks

izools

peaches1955 wrote: »

i have received a letter from a company called aktiv kapital abou a credit card debt this was in 1996 it defaulted in 1997 i have not heard anything from the credit card company since then can anyone please give me some advice.

Thanks

Yes, start your own thread. Then we will be happy to help