MBNA 0% balance transfer scam!

sirbri

I opened a new MBNA credit card account in May 2011 (£5500 limit). The offer at the time was 3 months 0% on card purchases and 18 months 0% on balance transfers.

I did a balance transfer of £3000 within the required time to ensure that I was eligible for the 0% deal. I then thought nothing of it. Made purchases on the card and was happy paying back the minimum payments each month (all on time).

I have now had 4 statements and all have included interest payments!!:mad: (totalling nearly £200)

So, I phoned MBNA to get them to explain why I'm being charged interest from day one on a 0% deal!? Their response "you did your balance transfer online, and did not opt in for the 0% deal".

Now hold on a minute! Opt in!!?? The only reason I opened the account was for the 0% balance transfer deal. Firstly my terms and conditions state I am eligible for 0% over 18 months as long as I make the transfer within 60 days of opening the account (which I did). No mention of opting in or out in the T&Cs!

I explained to the advisor I do not remember seeing any selection for the "in or out" of the 0% offer option and why on earth would I not have selected it had I seen it! He was adament that this was the reason for the interest charges so I asked to speak to someone higher up. I am now waiting for his manager to contact me within 48 hours.

Has anyone else experienced this ludicrous "opt in or out" claim by MBNA? Any advice?

BoGoF

When doing the BT it does give you the option of taking the 0% offer or just the standard rate. I don't see it as a scam, just you not reading your computer screen.

BoGoF

Just done a 'dummy run' to check and the first thing it says is 'choose a rate' with the options as mentioned above.

Tixy

When you do an online transfer you select the balance transfer option, and that presents you with 2 options either the standard transfer or the 0% deal to apply for. If you click on the standard transfer then you will pay interest, if you select the 0% deal then you don't.

So its not an opt in or out as such, its down to which option you selected online, i.e. which link you clicked into.

[Deleted User]

To Martin Lewis

Any chance we could campaign for schools to start teaching the correct meaning of the word scam? It seems to be incorrectly taught as 'I messed up but want to blame some else'. Perhaps it's being confused with the word 'dumb'?

Thanks.

BoGoF

Deleted_User wrote: »

To Martin Lewis

Any chance we could campaign for schools to start teaching the correct meaning of the word scam? It seems to be incorrectly taught as 'I messed up but want to blame some else'. Perhaps it's being confused with the word 'dumb'?

Thanks.

And add 'mis sold' to that as well

ppc1

BoGoF wrote: »

And add 'mis sold' to that as well

Some people don't like to admit that they are wrong and think every company is conspiring against them!

I too opened an MBNA account about three months ago and it definately asks you to select the interest rate applicable when completing promotional offers online.

chattychappy

sirbri wrote: »

... was happy paying back the minimum payments each month (all on time).

I have now had 4 statements and all have included interest payments!!:mad: (totalling nearly £200)

Let me guess... signed a DD and didn't check statements?

Your best hope is to ask them again, nicely. They might put the balance onto a promotion rate. Whether they will do this retrospectively - I doubt it.

OllyM

This is the screen you see when you do a balance transfer online from an MBNA card - you need to click the 0% rate, otherwise they use your standard rate of interest.

Fruit_and_Nut_Case

OllyM wrote: »

This is the screen you see when you do a balance transfer online from an MBNA card - you need to click the 0% rate, otherwise they use your standard rate of interest.

That looks pretty clear.

[Deleted User]

It's a definite scam. Nowhere does it say that you need a set of working eyes or a brain to be able to do a balance transfer correctly.