Morgan Stanley £20 Annual Fee

skybluesaver

I'm in the process of writing a letter to them basically saying is this any way of treating a loyal customer who has proven can be trusted by their past account usage?

spring85195

I called, they say they can not upgrade my a/c to platinum..

I am too poor =[

Good bye MS after 1.5 year.

skybluesaver

I've just applyed for a Platinum account even though i have a classic account. Don't hold out much hope in being accepted but already have a letter drafted up, ready to despatch if they insist on charging me £20 annually for the pleasure of using their card.

Call_Centre_Monkey

I'm afraid this may happen to a lot of other credit cards in the next few years. Sadly it's a consquence of the "fees are too high" campaign. When will people learn that if fees goes down the net result is:

'Good' customers: Pay more than before
'Bad' customers: Pay less than before
Banks: Profits remain fairly constant

ec9dlp

I too have had this letter with my latest bill.

I will now be looking to switch cards, as do MS deserve my business on any of their cards if they charge me for one of them?
NO

joncombe

I also got the letter about the new £20 annual fee, but I guess I am lucky, because on the front page of the statement it also says

We are pleased to say, however, that having reviewed your status we have decided not to charge you this fee for the next 12 months. Your account status will be reviewed again next year.

My card is a "premium" card, I assume it differs from a "platinum" card.

skybluesaver

Thanks Grahamo.
I really don't want to ditch Morgan Stanley but will if they insist on charging me a £20 annual fee.

skybluesaver

What was even more upsetting is even though i've ran my account excellently & put a fair amount of cash through them, they didn't seem that bothered when i said i would close the account if they insisted on charging the fee.
So much to customer loyalty eh? Not something i expected from Morgan Stanley

dumpdigger

I've also had the £20 annual fee letter. Have spent £13,000 with Morgan Stanley and always paid it back on time. So I rang them and was told that the fee applied to all cashback accounts. The guy went on to say they have other accounts with no annual fee (Yet!!!) but there are plenty of other free ones around with other companies. I told him that I would be closing my account but he didn't seem worried. There is still no mention of the annual fee on their website. Maybe if everyone pulled the plug they might think again.

Chriskim

Hope it is OK to post here a repeat of my question on a more general thread. We have closed our Morgan Stanley card and they say we have £24 cashback, but as they only pay out in £15 sums, we will lose the other £9. Has anyone else found this?