Closing MBNA credit card

AliceBanned

Hi 
A few days ago I phoned MBNA to close my credit card having paid off the balance. Previous limit £3k. When I logged on through the app I see it has limit of £500. I phoned to ask why and was told it was their usual practice and ‘that’s what we do’. I hope they do close it completely but can’t see any point in reducing the limit. I made it clear that I wasn’t too happy with a limit I don’t want. Has anyone experienced anything like this? They said it would take around a month to close it.

D3xt3r5L4b

It’s in the T’s and C’s.
They can reduce your limit however and whenever they want with as little or no notice as well. 

bradders1983

If you are shutting it and not using it again, what is the issue?

AliceBanned

As long as they do close it there’s no issue. I’ve read posts of customers saying MBNA hadn’t closed cards months later. That’s not a problem I want. It’s under my name so it’s not too much to ask to close it within a reasonable time. 

PaulW922

A number of card companies do this - it is, I believe, to allow for any charges that may still be 'in the system' 

Marcio45

Alice, just remember that it is important to keep the direct debit and also keep an eye on the next statement. You might be charged interest from the previous month. That is normal. 
Many people mistakenly think that asking the credit card company to close an account its the end of the story. And then they end up getting late payment fees or even default markers.

AliceBanned

Thanks I’ll keep an eye on it. 

Shakin_Steve

It is normal practice but should have been made clear when you closed the account. When my OH closed her MBNA card about twelve months ago, exactly the same thing happened but the customer services rep took about five minutes explaining the whys and wherefores.

Shakin_Steve

Just to add, you can log on to your account for 12 months after closure, should you want to trace a payment to someone.