Energy Price Cap announcement: Watch Martin Lewis explain what it means for your electricity and gas bills this winter

MSE News: MBNA credit card holders may pay more interest as payment date is extended

in Credit cards
4 replies 1.7K views
MBNA credit card holders who are paying monthly interest on their debt could end up paying more from October...
Read the full story:
'MBNA credit card holders may face extra interest as payment date is extended'
OfficialStamp.gif
Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.

Replies

  • MABLEMABLE Forumite
    4K Posts
    Part of the Furniture 1,000 Posts
    Forumite
    Will not affect me. I pay immediately the statement is produced and only pay 1 percent of the total balance. Reason being I am enjoying interest free on purchases up until 14 December 2017. Only then will the full balance be paid.
  • 20aday20aday Forumite
    2.6K Posts
    Ninth Anniversary 1,000 Posts Combo Breaker PPI Party Pooper
    Forumite
    My MBNA is interest free on purchases until 17 December 2016.

    Won't affect me either as it'll be cleared in full by then.

    Hopefully anyone who is affected will be able to shop around to see if they qualify for a 0% balance transfer card.
    It's not your credit score that counts, it's your credit history. Any replies are my own personal opinion and not a representation of my employer.
  • A rather silly headline. Perhaps change the headline to "'MBNA credit card holders WHO PAY BY DD may face extra interest as payment date is extended'. Even then, it's only those who don't pay in full.

    Given the statement date is remaining the same, if you pay manually or by standing order, you can carry on as before - with the additional reassurance that you have a bit more space before incurring a late payment fee if you mess up.
  • ConsumeristConsumerist Forumite
    6.3K Posts
    Part of the Furniture 1,000 Posts Name Dropper
    Forumite
    . . . Given the statement date is remaining the same, if you pay manually or by standing order, you can carry on as before - with the additional reassurance that you have a bit more space before incurring a late payment fee if you mess up.
    Anyone relying on the MBNA direct debit to qualify for current-account benefits (e.g. payment of interest or reward payments) could miss out for a month.
    >:)Warning: In the kingdom of the blind, the one-eyed man is king.
This discussion has been closed.
Latest MSE News and Guides

Energy Price Cap change

Martin Lewis on what it means for you

MSE News

Best £1 you've ever spent?

Share your most impressive bargains

MSE Forum