MBNA Being Stupid or Intelligent??

youngmoney_2

Applied for MBNA Platinum Visa and just seen this in the T's and C's.

"Note that we will not increase any promotional rate during the promotional period, unless you do not keep to the terms and conditions."

Then it goes on to say;

"If you do not keep to the terms and conditions, we may, at any time, totally
withdraw any promotional rates which apply to your account..."

So the first point is worded (as far as I can see) badly as it says 'unless you do not keep to the T's and C's'. So basically the first point says that they wont increase the promotional rate unless you break the T's&C's.

Then the second point says if you do break the T's & C's we will withdraw any promotional rates.

Now do you think this is a mistake on the part of MBNA and just stupid wording? Or is it clever wording to make sure they dont have to extend their offer?

CLAPTON

i dont understand your point here, they seems to say differeent things to me and seem quite sensible.

the first point says that the promotional rate is fixed and will not change (unless you are a bad boy). so for example it wont change because the bank rate changes etc.

the second point says if you break the T&Cs then the deal may be totally withdrawn from you.

thumshie

youngmoney wrote:

So the first point is worded (as far as I can see) badly as it says 'unless you do not keep to the T's and C's'. So basically the first point says that they wont increase the promotional rate unless you break the T's&C's.

It's actually saying it won't increase the promitional rate during the promotional offer thus once the period - Feb 2008 - arrives they can change the rate, no need for the second point to 'ensure they dont have to extend the offer'.

The real purpose of the both points is to clarify that although the credit card has a variable rate, during the promotional period they won't change it(the promotional one), unless you do not stick to the T's&C's.

youngmoney_2

Aha that makes more sense now. So it was just me being stupid. Still, that could have been written far more clearly.

youngmoney_2

Aha that makes more sense now. So it was just me being stupid. Still, that could have been written far more clearly.

Huggins

hi i've been looking at the this card. I understand there is a 2% balance transfer fee but do you know if there is ALSO a monthly repayment figure against the BT?? regards Huggins

YorkshireBoy

Huggins wrote:

hi i've been looking at the this card. I understand there is a 2% balance transfer fee but do you know if there is ALSO a monthly repayment figure against the BT?? regards Huggins

I'm not sure I fully understand your question, but I'll have a guess...

The BT fee is added to the first payment due. Therefore, your first minimum payment will be £5 + the 2% BT fee. Subsequent minimum payments are £5 only.

Does that help?

Huggins

certaintly does yorkshireboy many thanks! MBNA is this anything to do with either Abbey or Bank of Scot? as i've had cards with the those two comps. before and assume they won't put me on another 0%.

Finally hwo far in advance should i apply for the BT in your expert opinion?

thanks again huggins

YorkshireBoy

Huggins wrote:

MBNA is this anything to do with either Abbey or Bank of Scot?

MBNA administer Abbey credit cards. Some charity cards were passed from BoS to MBNA (I believe?).

as i've had cards with the those two comps. before and assume they won't put me on another 0%.

Never assume anything (unless it's with Nationwide who will only let you have their offers once). As long as you've been 'away' long enough, many of them will give you another bite of the cherry.

Finally hwo far in advance should i apply for the BT in your expert opinion?

Best advice on the stoozing site seems to be to start researching 8 weeks before the end of your current deal, and make the application 6 weeks before. However, as a stoozer, it's not the end of the world if my BT is processed late. Someone with real debt might want to apply sooner.

Huggins

thanks again YB .... i take it there is no harm in trying to apply? my current card is with abbey. Do you know of anyone other good offers similar to the above ? most important thing is min 9 month 0% (longer the better!) and small monthly repayment eg. £5 or similar. With cuirrent card i'm repaying £125 per month which eats into the money that is actually made available.

many thanks huggins

YorkshireBoy

Huggins wrote:

i take it there is no harm in trying to apply? my current card is with abbey.

Any limits/debt you currently have with the MBNA group will be taken into account when deciding whether to accept you. Even if you are accepted, you will certainly not be able to transfer your Abbey debt to the MBNA Platinum Plus card.

Do you know of anyone other good offers similar to the above ?

https://www.stoozing.com/0fees.htm

most important thing is...small monthly repayment eg. £5 or similar.

Only MBNA (and MBNA run cards - see https://www.stoozing.com/cards.htm) offer payments of £5. Everyone else's are 2-5%.