Morgan Stanley £20 Annual Fee

Shiggaddi

Just found a really good joke on the Morgan Stanley site, where they joke about priding themselves with good customer service.

http://www.morganstanleycard.co.uk/uk/data/card/about.html

I really like the bit which says

"""When it comes to credit cards we believe in no annual fees, competitive interest rates and a credit limit to suit your needs. We also believe in excellent customer service."""

I think I'll point out the link, so they can update it when I call customer services on Monday. Here is my proposed amendment

"""When it comes to credit cards we believe in no annual fees, competitive interest rates and a credit limit to suit your needs. We also believe in excellent customer service. Unfortunately these are not available at Morgan Stanley"""

spring85195

Just a quick thinking, if they don't want to keep you, may be it is time to move on... the computer will still say no even you complain every day.

I do agree that a reputable company, it is very disappointing for them to do this.

Try the alternatives as other poster suggested

http://www.ybs.co.uk/creditcards/classic.jsp

emma396

badmad wrote: »

I have also received my statement with the same info about the charge. I'm £1.52 short of £30.00 cash back. I'm very annoyed. Does anyone know how long it takes to receive a cash back cheque from Morgan Stanley, and how long does it take to close the account.
I might be able to spend the £304 needed to get to £30 cashback before 12/5/07, then get cashback cheque, then close account before 1/6/07.
Or I could cut my losses, get £15 cashback and close account, without spending any extra.

i recently called up to claim £60 cashback. i had the option of either a cheque or credit to my account. i chose credit account and it was pretty much there straight away. 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.

Shiggaddi

emma396 wrote: »

i recently called up to claim £60 cashback. i had the option of either a cheque or credit to my account. i chose credit account and it was pretty much there straight away. 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.

Sounds like a good idea, but I don't do that much shopping, and I'd just end up with hundreds of pounds worth of vouchers, and the money would be tied up that way instead of earning interest, but certainly a good idea all the same.

The Yorkshire Bank sounds like a great idea, and the cashback seems to be exactly the same as MS was. I already have Egg Money, so get 1% anyway, but I do have a low credit limit (which I have increased over time) and with stoozing nearing the end, it's good to have a backup credit card.

JoeA81

Anyone got any idea how soon I need to close my account in order to avoid the £20 annual fee on June 1st? I phoned them up but the guy on the phone didnt give me a very straight answer.

Its just that I recently applied for my cashback as a cheque, and the last one took ages to come through, so I dont really want to cancel the account until I have the cheque in my hands, but I dont want to get caught up in any "min 30 days notice to cancel" rubbish they might spring on me if I try to cancel a few days before June the 1st...

cranhill

Hi, I received my letter on Saturday as well. I have £34.00 cashback so far, my year ends in mid June. I have had £30.00 of this transfered to my account and will close it later this week. I guess as I pay off the entire amount each month I am not a customer they want on their books. I also have a Nationwide Credit Card which is the best one to use on the Internet and abroard as they do not charge any conversion charges. I will just use this one until I can see a good cashback card. You can close your account by phone without problem if you have a DD on your account.

melbury

atesixate wrote: »

It was mentioned earlier that they were introducing this fee because they were phasing out the classic card in favour of the platinum card. Having just applied for a card and being a student with little income, I am wondering which card I am likely to receive. Obviously I don't want the classic if there is a fee. Has anyone else applied very recently?
Also, does anyone have a platinum card with a limit of less that £3k?

Thanks

Yes I do - my limit is 2,100.

System

Yes I do - my limit is 2,100

Are you sure its a Platinum card? I thought mine was a Platinum, well thats the card i applied for in the first place. It doesnt say on the website and ive scoured my statement but cant find the name of it anywhere but it was only when i got the letter on my doorstep saying they were going to charge me for it that got me thinking. My limit is £2,500

melbury

Judi wrote: »

Are you sure its a Platinum card? I thought mine was a Platinum, well thats the card i applied for in the first place. It doesnt say on the website and ive scoured my statement but cant find the name of it anywhere but it was only when i got the letter on my doorstep saying they were going to charge me for it that got me thinking. My limit is £2,500

Yes quite sure it is a platinum card. There was a letter attached to my statement this month saying that they are introducing a £20 annual fee for some cardholders, but not me!! Will be reviewed again next year.

Gnid

melbury, that is very interesting...how can they charge you £20 on your platinum card when they are still advertising that the platinum card has no annual fee....

they are having a different set of conditions for you?