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MBNA - doubled my interest!!!
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Inspector_Clouseau
Posts: 51 Forumite
in Credit cards
Hi,
Just thought I'd let you know that MBNA (ShAbbey) have done a dirty trick in me. I got my CC statement today and noticed a great hike in the next payment. I have just finished speaking to MBNA who advised me that they 'reviewed' my account at the end of October and decided to change my % rate from 14.9% to 28.9%.
I protested at such a move as any one would and told MBNA that I didn't have any such 'review' before. I wasn't even warned of the increase either by letter, phone call, or email. I calmly requested to speak to a line manager or above but unsurprisingly they were all in a meeting?
So I took the advisor's name, number, and call centre location as I was promised a call back with 48 hours (standard issue phrase, with all call centres).
One other thing is that I have recently decided to claim PPI from MBNA so I am left wondering if it has got anything to do with my claim?
Can MBNA simply do this?
InspC
Just thought I'd let you know that MBNA (ShAbbey) have done a dirty trick in me. I got my CC statement today and noticed a great hike in the next payment. I have just finished speaking to MBNA who advised me that they 'reviewed' my account at the end of October and decided to change my % rate from 14.9% to 28.9%.
I protested at such a move as any one would and told MBNA that I didn't have any such 'review' before. I wasn't even warned of the increase either by letter, phone call, or email. I calmly requested to speak to a line manager or above but unsurprisingly they were all in a meeting?
So I took the advisor's name, number, and call centre location as I was promised a call back with 48 hours (standard issue phrase, with all call centres).
One other thing is that I have recently decided to claim PPI from MBNA so I am left wondering if it has got anything to do with my claim?
Can MBNA simply do this?
InspC
0
Comments
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MBNA (A&L) reviewed both my accounts and increased my interest to about 24% and also upped the minimum payments to 5% per month. Luckily I was just in the process of switching these balances onto 0% balance transfers so the balances were cleared before the new rates came into affect.
Not sure what prompted the review in my case - although I was aproaching the credit limit on one of the cards.
Very frustrating if you aren't in a position to move the balances elsewhere though!
KL0 -
Hi KL,
I also don't knowwhat triggered my review all they will say "its due the current money markets". Rubbish, I've missed no payments in the past and have an average credit rating, so I feel it has to do with my PPI claim it has now only hardened me more to chase the claim. The review was on the same day they got my PPI letter in the post. Luckily I can pay off the card completely and chase MBNA (Shabbey) for my money instead of them chasing me
InspC0 -
Anyone you get through to on phone wont have the foggiest why its been reviewed - its all automated and I imagine quite complicated, they wont just look at how you run this account - also others, how you run those, types of spending, demographics, historical data etc.
Credit cards are priced according to risk so if you are claiming PPI, whether you like it or not you are now a higher risk so may have been a contributing factor0
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