MBNA and Multiple Balance Transfers

justintime19_2

I use my MBNA card to make use of 0% Balance Transfers and have 4 currently running on my account.



Beware how MBNA allocate payments made when you have more than one BT on your account. It will allocate to the OLDEST first.


However, the information on the statement will not give you any useful information as to which is the oldest. Don't assume, like I did, that they are listed in oldest first - they are not. Also don't assume they are in expiry date order - they are not.


I had to call through to MBNA and ask how I would know the order in which payments would be made and I was toldl from the statement, I wouldn't be able to tell. It took them 45 minutes to reach this conclusion so I asked for a complaint to be raised, which took another 20 minutes and was told that my complaint was dismissed as they are not prepared to do anything about the lack of information on the statement.


I asked for this in writing and duly hung up only to receive a text message stating I needed to call back in. I did so to be told my complaint had been voided and would need to raise it again.


So in total, I have wasted over 70 minutes to be told "tough".


Great customer service - not.

Terry_Towelling

They must be listed in some sort of order - newest first probably. Are you noticing the order change each month? Do you not have any record of your own to show which is the oldest and when their associated promotional rates expire? And, finally, it should be obvious which is the oldest because that will be the one that reduces on your statements each month. All of the others will remain with the same balance.

ndf9876

I have an MBNA 0% BT card and this information is indeed on the statement - it was very clear to me.

On the last page of the statement there is a box labelled "Allocation of Payments" and the last sentence reads :

"For each type of balance, your payments will pay off the oldest balance (and related fees, charges or insurance) first."

Not sure what is unclear about that or what gave you cause for complaint.

EDIT : OK so my fault for mis-reading your post. No, they don't list things on your statement in age order, you are correct. Having said that, the expiry date of the promotional rate should surely tell you all you need to know - or am I missing something - this is how it works for me, I can tell where my payment will go by looking at that date!