mbna new terms and conditions

stephen25uk

hi folks just got new terms and conditions from mbna this morning,and was wondering if anyione could help my understand them not too good at this sort of thing.

the first one being the interest rate is going up to 18.9% i understand that

the second one is the change to the minimum payment

it states that

its changing to "which ever is the least of 5% of the outstanding balance or the total of any interest handling fees default charges plus £5 provided the payment is allways over £10 pounds.

i have a balance of £2000 and have had this card for about 5 years but as i am allways in and out of work the low minimum payment was handy i pay roughly £37mnth but with the interest going up nad the minimum payment changing i am thinking of transfering to another card

thanks for any help or advice

EvieandPeanut

I also received a letter from MBNA this morning, increasing my APR by 7% - I only wish my APR was the same as yours!! Anyway, I have just phoned them to complain and they have agreed to keep my APR to its original percentage so might be worth a call.

However, be prepared to be very insistent as they are very rude and are renowned for not understanding the meaning of customer service. I would never reccommend them to anyone.

MABLE

EvieandPeanut wrote: »

I also received a letter from MBNA this morning, increasing my APR by 7% - I only wish my APR was the same as yours!! Anyway, I have just phoned them to complain and they have agreed to keep my APR to its original percentage so might be worth a call.

However, be prepared to be very insistent as they are very rude and are renowned for not understanding the meaning of customer service. I would never reccommend them to anyone.

May be its the way you are to them. In my experience I have found them to be A1. Ok you may have had a bad experience with one member of staff but you cannot assume everyone is the same.

TAG

Your minimum payment will be that months interest plus £10. We owe 7k and our monthly min payments are around the £95 mark.

The wording in the letter is not very good to say the least.

EvieandPeanut

MABLE wrote: »

May be its the way you are to them. In my experience I have found them to be A1. Ok you may have had a bad experience with one member of staff but you cannot assume everyone is the same.

Sorry Mable but I find your comment very judgemental. You were not privy to my conversations with several members of MBNA staff so please do not make assumptions. If you care to read many of the threads on here relating to MBNA you will find mostly similar experiences to my own.

I have never defaulted with my payments and always make them on time so I have nothing to be concerned about. Please stick to making comments on the thread which are helpful to those seeking advice.

Thank you.

udydudy

Al_Mac wrote: »

I think you've just proved Mable's point.

I agree with you Al mac, I have also found MBNA exceptionally good and helpful whether it is reversing APR or increasing llimits. They have even been apologetic once when they could not increase my limits.

Ofcourse not that all MBNA reps maybe as good but I believe it is a very low percentage which may be rude.

But then it is always the way one talks to them as well.

MABLE

EvieandPeanut wrote: »

Sorry Mable but I find your comment very judgemental. You were not privy to my conversations with several members of MBNA staff so please do not make assumptions. If you care to read many of the threads on here relating to MBNA you will find mostly similar experiences to my own.

I have never defaulted with my payments and always make them on time so I have nothing to be concerned about. Please stick to making comments on the thread which are helpful to those seeking advice.

Thank you.

Obviously I have touched a very raw nerve and by the way you have reacted speaks volumes.

Thank you.

YorkshireBoy

I've had, or managed, well over 20 credit cards (and nearly as many current/savings accounts) over the last two years or so and have yet to encounter a "rude" CSA (and I have to say, MBNA have some of the best staff IME).

I must be doing something right!

chops05

Looks like I am in the minority as I have found MBNA really rude and very unhelpful. Everytime I speak to them they seem to have no record of the previous time I have called and they deny ever receiving letters from me and then then next breath confirm receipt of letters.

Perhaps you can let me know who you have spoken to that is polite and helpful so that i might call them and actually get somewhere in sorting out my credit card problems

chops05

Al_Mac wrote: »

You and me both:eek: Do unto others etc.... It does work.

Does it?? I've tried all that and it certainly doesn't work in my case!! lol :rotfl:

Mozette

stephen25uk wrote: »

hi folks just got new terms and conditions from mbna this morning,and was wondering if anyione could help my understand them not too good at this sort of thing.

the first one being the interest rate is going up to 18.9% i understand that

the second one is the change to the minimum payment

it states that

its changing to "which ever is the least of 5% of the outstanding balance or the total of any interest handling fees default charges plus £5 provided the payment is allways over £10 pounds.

i have a balance of £2000 and have had this card for about 5 years but as i am allways in and out of work the low minimum payment was handy i pay roughly £37mnth but with the interest going up nad the minimum payment changing i am thinking of transfering to another card

thanks for any help or advice

Monument used to do minimum payment a flat £5, though this was a while back.