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

Legacy_user

MBNA credit card holders who are paying monthly interest on their debt could end up paying more from October...

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'MBNA credit card holders may face extra interest as payment date is extended'

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MABLE

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.

20aday

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.

chattychappy

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.

Consumerist

chattychappy wrote: »

. . . 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.