Morgan Stanley £20 Annual Fee

humfer

Shiggaddi wrote: »

I certainly won't be applying for the platinum card. I was told on my phone call, that I would have to wait 6 months anyway. There's no way I'm doing business with this cowboy outfit again. As others have called up to complain and make their feelings clear on the cashback, I would urge others to do the same. If anyone does have a platinum card and got the notice of a fee, or notice of a fee waived for a year, I would strongly urge them to get the £15 cashback multiple and cancel the card.

It's all very well that they are slapping a fee on the old card, and advertising no fees on the new card, but if people using the new card are getting notices, then this advertising needs to be bought to the attention of trading standards, the ASA, the banking ombudsman, Watchdog etc.

It's not that I desperately need the £7, but it's the basic principle that I see this as my money, and if I had the attitude that it's not worth making a fuss about, then chances are that many others have the same atttitude and Morgan Stanley can fleece 100,000 customers x an average of £10 and make £1 million just on this alone, along with charging a fee for those who don't cancel. If all we can achieve is making call centre staff go around in circles explaining T&Cs on an 0800 number for 20 minutes, then that is better than just sitting and doing nothing.

This is an American based company, and American companies are more customer focused, and believe more in customer satisfaction than UK companies. Most US companies use freephone numbers even for customer support, compared to out 0870 numbers. Morgan Stanley, has adopted the American way of using freephone over here, which is a plus for them, so writing to their American head office might cause a stir if enough people do it, especially if they leave their UK team to get on with things and don't interefere much.

Agree completely. My wife only stands to loose £12 (£27 cashback built up, so £15 will be paid and MS will get to keep the rest), but its the principle that really gets up my nose. She has used the card fair and square, and if I hear one more time 'look at the terms and conditions sir' I will go flippin mad. As I told the MS person last night, if they are going to take that stance then presumely tomorrow they could change the t&cs to only issue cashback in multiples of £100, etc.....I really don't know how many card holders they have in the UK, but would love to know how much they will make out of people cancelling and them pocketing the left over cashback. I am promised a callback tonight from a MS manager so will see what they have to say. Surely what they are doing is on the very edge of being not legal?

Stephen_Leak

emma396 wrote: »

<snip>

Is there a shop u usually spend a lot of money at? next? marks and sparks? debenhams? in order to claim your next lot of £15 cashback, u could buy lots of vouchers from a shop u use and save them.

Mmmm. Sneaky. I like the cut of your jib.

melbury

Apologies to everyone for me giving the wrong information. I was 110% absolutely positive that I had a Platinum card - that is what I applied for in January. However, after all of the controversy on this site, I phoned MS today just to confirm the fact. I was totally shocked to be told that no I do not have a Platinum card, I have a Classic card. I was furious, but couldn't say much because I was at work.

Why would they do this? Why when I specifically applied for a Platinum card would they give me a different one? Yes, I have benefited from the cashback bonus for the first three months, but also I feel like I have been duped.

What is the fundamental difference between the two cards? What is the criteria for obtaining a Platinum one?

I feel like collecting my cashback and cancelling it. Are they any other cashback card deals out there?

Once again, sorry about the mistake, it wasn't my fault.

System

melbury wrote: »

Apologies to everyone for me giving the wrong information. I was 110% absolutely positive that I had a Platinum card - that is what I applied for in January. However, after all of the controversy on this site, I phoned MS today just to confirm the fact. I was totally shocked to be told that no I do not have a Platinum card, I have a Classic card. I was furious, but couldn't say much because I was at work.

Like you i was duped into beleiving mine was a platinum card. A platinum card is the one i asked for, and i had no reason to believe it was anything else because the paperwork doesnt show otherwise. It was only reading this thread and receiving notice that they were going to start charging me for it that made me think otherwise.

Just a thought, i wonder what the difference in interest rates are between the two?

humfer

melbury wrote: »

Apologies to everyone for me giving the wrong information. I was 110% absolutely positive that I had a Platinum card - that is what I applied for in January. However, after all of the controversy on this site, I phoned MS today just to confirm the fact. I was totally shocked to be told that no I do not have a Platinum card, I have a Classic card. I was furious, but couldn't say much because I was at work.

Why would they do this? Why when I specifically applied for a Platinum card would they give me a different one? Yes, I have benefited from the cashback bonus for the first three months, but also I feel like I have been duped.

What is the fundamental difference between the two cards? What is the criteria for obtaining a Platinum one?

I feel like collecting my cashback and cancelling it. Are they any other cashback card deals out there?

Once again, sorry about the mistake, it wasn't my fault.

I assure you you are not alone. Both myself and my wife applied for the platinum cards and there was no correspondence from MS to say we had failed. The cards that we received are black and look exactly like the platinum card (although under closer inspection notice 'platinum' is not written on the card). It was only when we phoned up on monday night to ask about the £20 fee were we both told we had the normal card. They couldn't tell us why we had failed with the platinum card or what the criteria was to get it

notbritishgas

Melbury & others, like you I applied for a platinum card but received a classic one, but thought nothing of it because the card looked the same and the terms and conditions seemed the same, ie got the bonus % (2% then)

The criteria seemed to be the credit limit. If they deemed that you were good enough for a limit of £3000 or more then you got a platinum, if less than £3000 a classic.

So now anyone with a limit of less than £3000 is thought to be a "poor" customer and not worth keeping.

MrsMillar

From Gnid: MrsMillar, why apply for the Platinum card?

Essentially, I thought I'd give them one last chance to retain me as a customer - not sure why I'm bothering though! Anyway, I fully expect they'll reject my Platinum card application due to the fact I already have a Classic card. Obviously, when I close my account (before 1st June), I'll make sure they know why AND the fact I gave them the opportunity to retain me.

So, is it the Egg Money card that's generally recommended? That's the impression I'm getting from posts.

Gnid

actually, can they, without informing people who applied for the platinum, automatically switch another credit card to them??

if there are so many people who thought they have the platinum...i think there are grounds to say that MS CANNOT CHANGE ITS RULES....

MS never told you guys that if you are unsuccessful, you will get the standard card?? there must legal grounds to stop them doing this because this doesn't seem fair

atesixate

unfortunately it does say in the t&c that they can take your application as one for another type of card

Gnid

Yes, I mean that is fine in the T&Cs but you still need to inform the person that has happened...because the person will assume it is still the platinum card and since that person is working on that assumption and relied on that assumption, MS shouldn't be able to now apply basic card changes to that person??