Help! Just discovered 16 months of MBNA charges on 0% card!

theyoungones4

Hi there,

I'm still in shock after logging onto my MBNA credit card account online and finding they have charged me late payment fees every month since I set it up, despite me setting up a monthly direct debit. I had no idea because I got the card simply to purchase an expensive video camera. It was a 0% on card purchases for 16 months so I sensibly set up a direct debit to pay off more than the minimum amount each month. Then I set a date in my diary to transfer the balance once the 16 months was up and put the card away in a drawer. I've just come to look at transferring the balance and discovered that they've been charging me a £12 late payment fee each month plus between £36-£41 interest charges (I presume the 0% charges don't apply if you are late with your payments!) In total I've worked out I've been charged around £800 in interest (I wasn't expecting to pay) and late payment charges. I feel like such an idiot - I must have simply tapped in the wrong date when I set up the payments! I also feel completely duped and very distraught! These companies make you jump through hoops when applying for the cards and then keep nice and quiet when they start coining it in due to what is obviously a simple and honest error!
I HAVE been getting emails to say the statements are available online but I could never remember my account name without digging out the original letter so I never got round to looking at it. So much for trying to be clever (or even just plain sensible with my money!) Can I reclaim both the interest and the late charges?
Could someone please advise the best course of action.
Many thanks

leeroy2009

this needs moving to the credit card section, are you seriously saying mbna never once sent you a letter about all these underpayments? not one phone call off them either?


ps your credit file has just been seriously negatively affected by this too.

theyoungones4

Oh God, I never thought of that - and I need to transfer the balance asap! I will try and repost now!

leeroy2009

yes get your post copied and pasted to the credit card section, then tonight get copys fo your credit report the £2 ones, and also sign up to noddle right now, you should be able to see your credit files instantly


also post exact dates, when you took out the card etc, as much info as you can, sadly this may be all your own fault though, and its going to take a lot of goodwill from mbna to help sort this sorry mess out.

theyoungones4

Well, I can tell you I never once got a letter or a phone call otherwise I could have sorted it out in a flash. I'm gutted!

theyoungones4

Just done the Noddle rating and it's 4/5. I'm guessing it would be 5/5 if it weren't for this mishap. I only have one other credit card which is always paid in full every month. No loans apart from the mortgage.

The MBNA card was taken out in Sept 2013. I actually phoned them up about six months later to find out my credit limit as I wanted to make a smaller one-off purchase on it. At no point did they mention my payments were going in late!

dunstonh

It was a 0% on card purchases for 16 months so I sensibly set up a direct debit to pay off more than the minimum amount each month.

Standing order or direct debit?

I've just come to look at transferring the balance and discovered that they've been charging me a £12 late payment fee each month plus between £36-£41 interest charges (I presume the 0% charges don't apply if you are late with your payments!)

If it was direct debit, then the card provider controls the collection date. They typically use dates to ensure that the payment gets there in time. If its standing order, you are sending the money to them. You have to allow for time for it to arrive and clear.

It is common to lose the interest free terms if you fail to meet the payment criteria

I also feel completely duped and very distraught!

You havent mentioned what it is that you feel duped about?

These companies make you jump through hoops when applying for the cards and then keep nice and quiet when they start coining it in due to what is obviously a simple and honest error!

They would have issued a monthly statement.

I HAVE been getting emails to say the statements are available online but I could never remember my account name without digging out the original letter so I never got round to looking at it.

So, not their fault.

Can I reclaim both the interest and the late charges?

The charges are within the OFT figure and interest is charged as you borrowed money outside the agreed terms.

If it was paid by direct debit then you may have some scope for a complaint as you would expect the provider to use a date within the required payment timescale. If it was paid by standing order, then you are in control of that, not them. You would be reliant on a goodwill gesture by them for your mistake.

Nasqueron

Deleted_Users4 wrote: »

Just done the Noddle rating and it's 4/5. I'm guessing it would be 5/5 if it weren't for this mishap. I only have one other credit card which is always paid in full every month. No loans apart from the mortgage.

The MBNA card was taken out in Sept 2013. I actually phoned them up about six months later to find out my credit limit as I wanted to make a smaller one-off purchase on it. At no point did they mention my payments were going in late!

The scores are largely meaningless, mine was 5/5 and I got a BT card was paying the minimum as it was 0% and they dropped me to 4/5 even though my other 2 CC were paid off in full

brown1950

Deleted_Users4 wrote: »

Hi there,

I'm still in shock after logging onto my MBNA credit card account online and finding they have charged me late payment fees every month since I set it up, despite me setting up a monthly direct debit. I had no idea because I got the card simply to purchase an expensive video camera. It was a 0% on card purchases for 16 months so I sensibly set up a direct debit to pay off more than the minimum amount each month. Then I set a date in my diary to transfer the balance once the 16 months was up and put the card away in a drawer. I've just come to look at transferring the balance and discovered that they've been charging me a £12 late payment fee each month plus between £36-£41 interest charges (I presume the 0% charges don't apply if you are late with your payments!) In total I've worked out I've been charged around £800 in interest (I wasn't expecting to pay) and late payment charges. I feel like such an idiot - I must have simply tapped in the wrong date when I set up the payments! I also feel completely duped and very distraught! These companies make you jump through hoops when applying for the cards and then keep nice and quiet when they start coining it in due to what is obviously a simple and honest error!
I HAVE been getting emails to say the statements are available online but I could never remember my account name without digging out the original letter so I never got round to looking at it. So much for trying to be clever (or even just plain sensible with my money!) Can I reclaim both the interest and the late charges?
Could someone please advise the best course of action.
Many thanks

Yes you can reclaim the charges ! and also the interest charged on the £12.00 debits.

Many people have been able to claim back these charges from MBNA
along with interest.