Morgan Stanley £20 Annual Fee

notbritishgas

johnmoney05 wrote: »

I am at the same situation. They are just rip off my cash back of £10. I am going to complain them.

John, keep us posted with the results of your complaint

[Deleted User]

skybluesaver wrote: »

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

I was very pleased with the service that Morgan Stanley provided as their customer care was second to none and their online staements were brilliant ,but I'm afraid that as a customer who pays in full her bill at the end of every month I will be cancelling my card .It's a shame as I did like using this company.I am a pensioner on a fixed income but always paid the bill in full and never went into debt.I received £75.00 cashback this past year which I have put towards my holidy this year.Oh well it's back to scouring the net for a better deal I suppose
perhaps we should start a campaign to 'Ditch the Fee'

System

I am in a dilemma with this card. I applied for a Platinum credit card about 2 years ago but received the standard "we are going to start charging you £20 a year" twaddle . My first reaction was to ditch through principal, but since i am a housewife, and dont really have an income of my own i cant really be choosy. Spending on it i have got to a fine art. I can easily spend £2000 a month on it and pay it back at the end of the month giving me a decent enough cashback, plus interest in my bank account on money saved to pay the credit card off at the end of the month. I must admit ive had to keep nagging at them to increase my limit. I started off with a £1,500 limit and have increased it to £2,500. I was going to phone them this month to try and increase it to £3,000. I would like a Tesco credit card but they wont give me one.:mad:

I am wondering whether by cancelling it i would be cutting my nose off to spite my face or should i do what i normally do. Show my disgust by taking my business elsewhere.

Freebyman

Well I also got the notice from them today.

Just had a quick look around and Yorkshire Building Society seem to do an interesting Cashback card, anybody got any views about it, because it looks good to me?

napoleon

spring85195 wrote: »

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

I am too poor =[

Good bye MS after 1.5 year.

You slipped up here. They've no way of checking how much your salary is. Tell them you earn £50K per year. That's what I did when I applied and got accepted for their platinum card. Sorted. :beer:

abisnail75

I've got the Platinum card and have had it for around 7 years now. However, I'm particularly hacked off by the fact they've reduced the interest free credit period for those that pay off in full by Direct Debit each month. THat means this month I have 6 weeks of purchases so that the payment date stays the same but I have to afford it from this one month.

Am going to try to cancel direct debit and pay off in full by bank transfer instead. However, am now concerned it might cost me £20!!!

Am very disappointed in them as I have had nothing but good to say about them until now.

The_Boss

napoleon wrote: »

You slipped up here. They've no way of checking how much your salary is. Tell them you earn £50K per year. That's what I did when I applied and got accepted for their platinum card. Sorted. :beer:

Wouldnt be so sure of that - they could ask for proof or cross reference with another agency.

tom188

napoleon wrote: »

You slipped up here. They've no way of checking how much your salary is. Tell them you earn £50K per year. That's what I did when I applied and got accepted for their platinum card. Sorted. :beer:

So you committed fraud. Good one. This data is shared by fraud prevention agencies and what you put on one application form for one provider can be compared with what you provided to another.

If you are found out say good bye to any future lines of credit.

napoleon

I am always consistent with my quoted salary figure so no danger there. :beer: no fraud either, I always pay my credit card bills in full and on time. :beer:

CopperPlate_2

Yes, but you might like to have a look at this:

http://www.mclsoftware.co.uk/huntersolution.html

Many financial providers use it.

It's a dangerous game to play just to get a credit card.