MBNA stopped my 0% interest

Weird84

I'm really annoyed right now.

I opened this fluid card last October as we had moved house and needed new furniture. I usually try to avoid credit cards but as this was 0% for 3 years it was a good deal as long as I used it within the first 3 months which I did. A direct debit was set up straight away to make sure I always met the minimum.

I logged in today and saw that I have been getting charged interest EVERY single month (£225 in total). I have paid the min every month! The only thing I can see is that sometimes the direct debit comes out 19th 20th or 21st even though it's due on the 20th each month and I think this is why they have cancelled my 0% deal.

I'll be phoning them in the morning. But will they be able to negotiate with me? What should I say? I have faithfully paid every month automatically, surely that shows I'm keen to pay?! I had checked my statements before but never noticed the interest to be honest.

Feel like a complete fool now. Any help to put my case across would be very helpful, thanks!

bsms1147

Welcome to the forum.

3 years sounds like a balance transfer card - did you do a balance transfer onto the card (and nothing else) or did you put new spending on it?

Weird84

Hello, no it wasn't for a balance transfer. It could have been for 2 years.. But even so, that was just last October.

I think technically my due date is 20th but DD comes out at different dates like 19th/20th/21st - I think once it's come out late once then I'm off the deal. At least that's what I'm thinking so far. I'll ask them tomorrow.

It wasn't for a balance transfer though. I'm going to check their website now...

Weird84

bsms, you could be right :-/ if so, am I stuck paying a ridiculous interest rate?

Arleen

I would first check your credit agreement what is the actual term you've got on your card. Because while they offer 0%/3years, this is subject to credit checks and if you don't meet the conditions you may have been offered different terms, and just from that last post about dates it may be likely that you've missed that part.

Weird84

I'll try and find it. My credit score is perfect (bought a house last year at the same time as the credit card and it's all fine).

[Deleted User]

Weird84 wrote: »

My credit score is perfect

Unfortunately, that means nothing.

System

Only the documentation that came with the card will be definitive IMO.

The direct debit won't be the issue as long as it being paid every month.

Weird84

I have their information booklet here that they sent me and it's very general and not for my specific account. I'll have to just give them a ring now. Not looking forward to this!

Weird84

Well you guys were right. I have been on an 18.9% deal since day 1 and 0% didn't apply to retail purchases. I'm an idiot basically. I was looking at too many deals and got caught out.

I'll look for a 0% bal transfer and do that. I don't have a massive bill or anything so it's not the end of the world but definitely feel a bit daft right now.

[Deleted User]

If you get a new card, remember to check your statements regularly.

Once every nine months is a little too long to really stay on top of your finances.