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Virgin/MBNA CC's and interest rates
vad921
Posts: 2 Newbie
in Credit cards
Hi,
I have other cards and unfortunately I am pretty close to the limits on all. However, how I manage is that I pay the minimum payment and then use the available credit so effectively I just paying the interest. However, I've never got close to the limit on my Virgin/MBNA card until they decided to drastically reduce it and now I just seem to continuously go over the limit. Managing it like my other cards doesn't seem to work. Today they rang me to say I was over £140 overdrawn which I must pay along with my £138 minimum payment. I was gobsmacked thinking I was bang on with the payments. It seems to be the way that the interest is charged. Do MBNA/Virgin do it differently than Northern Rock or Lloyds??
Any help would be welcomed!
I have other cards and unfortunately I am pretty close to the limits on all. However, how I manage is that I pay the minimum payment and then use the available credit so effectively I just paying the interest. However, I've never got close to the limit on my Virgin/MBNA card until they decided to drastically reduce it and now I just seem to continuously go over the limit. Managing it like my other cards doesn't seem to work. Today they rang me to say I was over £140 overdrawn which I must pay along with my £138 minimum payment. I was gobsmacked thinking I was bang on with the payments. It seems to be the way that the interest is charged. Do MBNA/Virgin do it differently than Northern Rock or Lloyds??
Any help would be welcomed!
0
Comments
-
What do you mean by
"However, how I manage is that I pay the minimum payment and then use the available credit"
You pay the min payment and then use more money from it? (e.g. is the debt increasing every month?)0
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