MBNA put up for sale

Farmerbob

I was dicussing it at work today, I doubt they would want to hold onto it and try sell it for years. The way BOA see it they want out of the market, so may close it and sell off the book at a discount. Whether it be another credit card company or a company looking for return on a discounted credit card portfolio. We'll just need to watch this space

chattychappy

Seems like people who don't like them are people who broke agreed terms....

Degenerate

Rupert_Bear wrote: »

Very disappointed. They are fantastic for promo deals and purchases. I just hope they sale the business to a reputable company like Barclays.

That's the last thing we want, it's the competition between the two that is giving us the best deals.

callum9999

chanz4 wrote: »

We can see many more doing this, would be suprised if sygma isnt next.

MBNA is profitable and is being sold as the parent company is just refocussing it's business. It isn't a sign of anything happening elsewhere in the industry whatsoever - so as you clearly don't know anything about this, I think I'll ignore your predictions on the matter.

Roger1

Rupert_Bear wrote: »

I just hope they sale the business to a reputable company like Barclays.

Or NOT like Barclays.

Barclays have a poor reputation when it comes to buying card operations and reducing cardholder benefits. Ask former Goldfish cardholders, for example.

In my case, they reduced benefits with their own Thomas Cook Visa card so much that it was indistinguishable from other cards. As a result, I am no longer a Barclays customer.

scott_lithgows wrote: »

Never had any problems,not santander please!

+1.

malcolmffc wrote: »

We have the capped credit charges to thank for this...

Really? I don't see the connection.

Roger1

Sorry, duplicate. Please ignore. (Curse the telephone when you're posting.)

dazza.mk

callum9999 wrote: »

MBNA is profitable and is being sold as the parent company is just refocussing it's business. It isn't a sign of anything happening elsewhere in the industry whatsoever - so as you clearly don't know anything about this, I think I'll ignore your predictions on the matter.

Refocusing is a polite way of putting it, supposedly they're getting rid of a non-core businesses/assets due to the 'headache' that was their purchase of the Countrywide mortgage business.

http://dealbook.nytimes.com/2011/08/11/for-bank-of-america-countrywide-bankruptcy-is-still-an-option/

and, given the current exposures that BNP Paribas has elsewhere, (although it isn't necessarily expected) it wouldn't necessarily shock anyone if it wanted to offload a similar non core business such as Sygma's parent company.

Rupert_Bear

Roger1 wrote: »

Or NOT like Barclays.

Barclays have a poor reputation when it comes to buying card operations and reducing cardholder benefits. Ask former Goldfish cardholders, for example.

In my case, they reduced benefits with their own Thomas Cook Visa card so much that it was indistinguishable from other cards. As a result, I am no longer a Barclays customer.+1.Really? I don't see the connection.

I had a Morgan Stanley cc and was transferred to Barclays. No reduced benefits and lots of promotational rates plus an APR reduction.

fight_the_power_2

chattychappy wrote: »

Seems like people who don't like them are people who broke agreed terms....

Yes cheeky chappy i broke my agreed terms when the recession halved my wages up until i had a blemish free record we cant all be perfect like you can we now:T

thenudeone

chattychappy wrote: »

Seems like people who don't like them are people who broke agreed terms....

I haven't broken any terms but still think they are a bunch of goons. They have repeatedly withdrawn existing credit limits from me over the past 10 months even though I have an excellent credit record, earn well into higher rate tax territory, and have an acceptable loan to income ratio, and despite me proving that I could pay all of my current debts off from savings!

If they are all have the same judgement skills as the "credit prevention department", then soon there will be 4000 numerically illiterate jobseekers in Chester.