Help - how do I pay off my credit card!!

shedhead6

I have £5000 that I need to pay off credit card and MBNA seem to suddently be charging me silly money if I've underpaid by a miniscule amount (£5 for instance). I don't have any problems in paying it off, never have had but really need to switch from them. Have applied for a couple of the deals on this website but they are knocking me back and I don't know why. HELP! HOW CAN I PAY THIS OFF WITHOUT GETTING RIPPED OFF BY MBNA?? am desperate....... any advice greatly appreciated

leicsmarkyr

Well MBNA are not ripping you off. If your minimum payment is say £100 and you only pay £95 they are entitled to charge you £12 for this.

And therefore you will be getting black marks on your credit report saying not paying correctly. Pay the amount specified each month on time and of correct amount.

Naomim

hi,

set up a direct debit to pay the minimum amount. That way you'll never under pay and be charged late fees/interest. Then if you want to make overpayments, you can.

If you are being refused credit it will probably be because you have too many late payments or you have too much "credit" for your salary.

Stop applying for further credit as it will affect your "score" more if you keep applying and are declined.

Naomi

sharpy2010

This is just a troll.

Ben8282

shedhead6 wrote: »

MBNA seem to suddently be charging me silly money if I've underpaid by a miniscule amount (£5 for instance)

Why are you allowing this to happen? As a previous reply to your post has stated, if your minimum payment is £100 why do you only pay £95? You surely must be aware that there is a late payment charge if you don't pay the mimimum amount due by the date due.

Irrespective of the actual reason, the assumed reason will be that your financial situation is so stressed that you simply cannot afford the extra £5.

If you want to avoid 'getting ripped off by MBNA' as you put it, make your minimum payment on time. That is all you need to do.

Based on the information you have provided, your late payments are probably a reason why you are being refused further credit, although there may well be additional reasons of which we are not aware.

We are, of course, jumping to conclusions here. As is so often the case, the OP is somewhat unclear and could mean something different to what is being assumed. Perhaps the OP does make his mimimum payments on time but pays a miniscule amount less that the full balance and is not being charged late fees but is being charged interest on purchases or something like that.