Mbna Unfair Charges & Mis-sold Product

RoyalReccon

Guys,

I have an issue which i am try to fight with MBNA.

I signed up for 0% for new purchases untill Sep 2007 and 0% for Balance Transfer untill June 2008 with MBNA in June 07.

I balance tranfered £4200 to them and paid £126 as a Balance tranfer fee thinking i dont have to pay anything on this balance untill June 08. Then used my card for £2000 for new purchases and paid it back the next statment thinking i dont have to worry about anything.

But to my surprise they are now sending me statments with intrest charged at 15.9% on £2000 ( new purchases) as they have used the money i paid back to pay off part of my balance (£4200)which I tranfered to them.

I am not happy at all, tried talking to them as well, as this product is Mis-sold to me but they are having none of it.

Can someone advice me what to do next ? FSA or direct complained letter? any spesific grounds?

Much appriciate your kind help

YorkshireBoy

You've committed the cardinal sin of spending on a BT card (with an unequal 0% on purchases duration) after BT'ing to it.

MBNA clearly state in your T&C's (and the summary box if you find T&C's a bit 'heavy') that your repayments go towards your lowest interest rate transactions first.

To be blunt, you have absolutely no cause for complaint, and you were not mis-sold the product.

Your best approach now should be to learn from this expensive lesson and shift your balance elsewhere ASAP.

poppy_f1

when were the purchases made

MABLE

The times Martin advises that if you balance transfer on no account use the card for purchases. You only have yourself to blame and the complaint is with yourself and no one else.

RoyalReccon

poppy_f1 wrote: »

when were the purchases made

Thanks Guys,

I much appriciate your kind help.

With reagrds to the question Poppy, I made purchases before i tranfered the balance in Aug-07

RoyalReccon

Seem like everyone just gave up in this.

Come on guys, I am sure you can do better then this. Afterall the idea is to fight back these unfair charges.

Come on, help me to help stop banks making quick money like this.

RTNI

With respect, this is not a case of unfair charging.

You were on a 0% BT and spent on it as well. As your 0% for the purchases ran out first, as you see you are being charged interest on this amount with the payments going towards the 0% BT as YorkshireBoy has indicated.

Unfortunately MBNA have done nothing wrong, as prev mentioned you may put this down to experience and move the total amount off to a new 0% BT card to stop interest charges.

Hope this helps.

System

RoyalReccon wrote: »

Seem like everyone just gave up in this.

Come on guys, I am sure you can do better then this. Afterall the idea is to fight back these unfair charges.

Come on, help me to help stop banks making quick money like this.

Think this has been answered perfectly adequately by YorkshireBoy and MABLE.......

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