Disgraceful MBNA & Barclaycard

2sides2everystory

Oi ... don't you start shooting me up now, izools Get off my tail - I'm one of the good guys

Many summary boxes are just an excuse to cram a whole load of small print of very little interest into a smaller space than the whole back page of a statement and their purpose is to pay lipservice to some tinkered-with, half-baked compliance imperative. Summary boxes are clear as mud and often not even on the front in black ink but in grey on the back. None include any detail of interest rates.

At least Amex make a separate printed page out of theirs.

After you wade through many of them you realise that the small print actually says the box contains key features of the card and does not replace any Ts and Cs. What's a key feature ? Oh yeah, another compliance buzzword dreamed up on a Friday afternoon by people who don't know their a$$ from their elbow but can put their finger in the air and pull something out of the actual contract and shorten it to something dodgy that fits in a box but isn't a valid contract term at all.

For some reason I cannot fathom, if there is a heading "Credit Limit" in these Summary boxes then they all state some spurious minimum credit limit which has no relevance to the person the statement is addressed to.

Under "Fees" they all say "No annual Fee" and nothing else. You have to get your thesaurus out at that point and not be put off so easily. You must ask yourself "When is a fee not a fee?". The correct answer is when it is a Default Charge.

The concept of a Summary Box is as badly understood and badly defined as the concept of a Big Society. People know how to say it, even point to it like it is important, but no-one has quite grasped it or knows what good it does. The reason for that ? Yep, it's because it was pretty ill-thought out concept in the first place - another cure-all solution looking for an ill-defined problem.

And you chide me for not bothering to read the blasted things?

Do you have to watch and inwardly digest the weather forecast long range and short range before you dare go out? If you are going flying in a Spitfire or a Messer!!!!!!t then yes - good idea, alongwith a fairly good automatic recall of each page of the Pilots Notes, but for more earthbound daily pursuits, no, not really necessary.

At the heart of the matter, it's just a credit card account.

Sure, if you are starting out and have never had one before then have a read ... better still, spend the time on the Credit Card section of MSE forums and read and learn from the complaint threads like this one.

izools

2sides2everystory wrote: »

Do you have to watch and inwardly digest the weather forecast long range and short range before you dare go out?

No, but if I don't watch the forecast, don't understand the forecast, or don't pay close enough attention, I won't later come back and accuse the weatherman of causing me to get wet if I didn't bring an umbrella.

This is the same as what other posters who complaint about variable rates being varied do. They don't pay attention and then blame a 3rd party for their own ignorance.

I'm not directing my comments at you specifically as you yourself haven't found the need to complain about one of your creditors doing what you said they could, only others have.

Nevertheless I stand by my comments

blacksta

vote with your legs or choice -

chattychappy

blacksta wrote: »

vote with your legs or choice -

Ironic - if he had it his way, he would take away our choice.

2sides2everystory

chattychappy wrote: »

Ironic - if he had it his way, he would take away our choice.

Who's 'he' ?

LULULU1

All,

Thank you for all of your replies to my original statement. With hindsight I guess it is not as shocking as I thought. however with an impeccable credit card record my point is still valid. My rate before my 0% apr was standard rate 17% which has now been increased to 25-26% post 0% deal

izools

LULULU1 wrote: »

All,

Thank you for all of your replies to my original statement. With hindsight I guess it is not as shocking as I thought. however with an impeccable credit card record my point is still valid. My rate before my 0% apr was standard rate 17% which has now been increased to 25-26% post 0% deal

LULULU1, with the greates of respect I fear you haven't listened to us atall.

Your credit record is not impeccable if you run your cards close to your limit. High debt to limit ratios is negative and renders your credit worthiness as poor to fair, not impeccable.

Also, your rate is only increasing to 25~26% if you choose to allow it - you are in control of the rate increase and have the option to opt out if you so choose. It's entirely your perogative to accept it, if you choose not to opt out you have no grounds for complaint as this will be your choice.

Sorry to be so emphatic but I fear you haven't heeded the good advice given here.