Morgan Stanley £20 Annual Fee

saral_2

Mrs Millar - I did that last month before this £20 fee kicked off, just to see if I could have another card that was getting 3% cashback!, got a letter saying I had to ring them as they couldn't verify me, so rang and the lady said as I already had a classic card (didn't know until I rang as had applied for a Platinum) I would need to cancel this and re-apply for a Platinum, but no mention of waiting 6 months or wether I would be accepted.

spring85195

Shiggaddi wrote: »

This article seriously needs updating. I know the platinum advertises as no fee, but surely in light of the recent experience with MS, this is one company that Martin should be telling us what could happen after applying for their card, and that any cashback benefits could be wiped out. Here is the link

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1087717218,37843,

Can someone flag this to a moderator (not sure how to do it, and not sure you can report your own post), and if the moderator or Martin is reading this, I really think that MS should not be recommended to people reading the article in light of the recent events.

Thought it is routinely updated weekly? At least the tag say so.

bargain_babe

I received my letter yesterday and seem to be in the same position as most of you, I will lose £10 cashback if I close the account or have to pay £20 and keep it! I don't really know how to go about this. MS is the first and only card I have with a credit limit of £2300 and yes, I thought I applied for the platinum too!
I always pay in full every month and I have just been sent a new card as the current one runs out soon and my anniversary date is the end of may.

Could someone advise how to close or do I not just start my new card. I will phone them too but doubt I will get anywhere. I am just worried about timescales and such. thanks

spring85195

bargain_babe wrote: »

I received my letter yesterday and seem to be in the same position as most of you, I will lose £10 cashback if I close the account or have to pay £20 and keep it! I don't really know how to go about this. MS is the first and only card I have with a credit limit of £2300 and yes, I thought I applied for the platinum too!
I always pay in full every month and I have just been sent a new card as the current one runs out soon and my anniversary date is the end of may.

Could someone advise how to close or do I not just start my new card. I will phone them too but doubt I will get anywhere. I am just worried about timescales and such. thanks

You start on your new card and if possible buy up to 15 cash back in 2 .5 weeks . Do not push it to last minute, you can only cancel it after you clear your balance and no transaction is hitting your account.

Phone to cancel them, should be quick.

vale22

If you are going to close the S.M. account make sure any D.D. you have set up on the card are transfered to another account then cancel the D.D. on your S.M. card

humfer

Well still no decent response from Morgan Stanley. Both my wife and I are waiting call backs from managers to explain (1) why we got classic cards when applying for platinum, and (2) why we should not receive 100% of cashback when closing the card (relating to the stupid £15 multiples rule). I simply cannot accept that they are effectively making you pay £20 to ensure you receive all cashback to date and BEFORE they introduced the annual charge. Was promised call backs on monday night and nothing since. Once cards are closed I will never use MS again

Shiggaddi

I wouldn't hold your breath, I was promised a callback, and never received one, when I made my first call and said I wished to take the matter further.

Then again, it's already clear that they don't want us as customers, and they don't care what we think, so why would someone call us back just to state that they have every right to do what they want, and they don't care what we think.

jeppy

Gnid wrote: »

Can someone tell me what is so good about Morgan Stanley card and why is it better than the Egg Money card - both are 1%!?

I dont earn cashback with Egg?? I spent quite a bit on this card, but not as much as MS as no cashback and dates are incompatible with my pay!!

I have a limit of £4,400 on MS at the moment does that mean I am OK??

Also I thought I had cancelled a Goldfish and marbles card,but they are still in force.

I do not receive statements and if I do receive any info I write and ask them to cancel, but as I dont have a card and I am therefore unable to quote an expiry date (and I cant remember the password, weird as I always use the same??) they wont let me cancel!!!

I haven't spent on these cards for at least 2 years if at all, if they charge me will I have any comeback??

Shiggaddi

If you don't earn cashback with Egg, then chances are you're on the old Egg card, rather than the Egg Money card.

The old Egg card, is a Visa card, and the new Egg Money is a Mastercard. Have a look to see which one you have, and if you have the old one, then just apply for the new Egg Money, and get the 1% cashback without the annual fee.

JoeA81

Wasnt it the creater of this very website that says in his video -

"A company's job is to screw us for profit"

If we go in from the beginning thinking this, then we wont be suprised when it happens.

I've lost a few quid in cashback on my MS card, but Im just going to close the account and move on.