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Morgan Stanley Notice of Variation
klint
Posts: 265 Forumite
in Credit cards
My first post -- hello everyone!
I've had a Morgan Stanley cashback card for many years, which has proven to be very convenient: unlike my other cards, with this one I truly get up to 56 days interest free, because I pay in full each month by direct debit on exactly the same day that my salary goes into my current account! Neat eh?
Unfortunately, a received a Notice of Variation saying they're going to shorten the interest-free period by 10 days for those who pay by direct debit in full each month. Has anyone else got this letter? If so, have you talked to Morgan Stanley about it?
I wonder what makes them think it's in their interest to penalise those who pay by direct debit, while those who pay by cheque will be unaffected.
I will be looking to replace my card, and they will lose a long-serving customer (I've been using that card to pay for absolutely everything, both day-to-day and large purchases, and they've got loads of money out of me from the commission they've been charging retailers.)
Cheers,
Klint
I've had a Morgan Stanley cashback card for many years, which has proven to be very convenient: unlike my other cards, with this one I truly get up to 56 days interest free, because I pay in full each month by direct debit on exactly the same day that my salary goes into my current account! Neat eh?
Unfortunately, a received a Notice of Variation saying they're going to shorten the interest-free period by 10 days for those who pay by direct debit in full each month. Has anyone else got this letter? If so, have you talked to Morgan Stanley about it?
I wonder what makes them think it's in their interest to penalise those who pay by direct debit, while those who pay by cheque will be unaffected.
I will be looking to replace my card, and they will lose a long-serving customer (I've been using that card to pay for absolutely everything, both day-to-day and large purchases, and they've got loads of money out of me from the commission they've been charging retailers.)
Cheers,
Klint
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