We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

MBNA getting canny

2»

Comments

  • oscar52
    oscar52 Posts: 2,272 Forumite
    Just out of curiosity then Gemmzie, what is the min payment now? This news hasnt trickled down me yet (and havnt heard much from other people)
    No Longer works for MBNA as of August 2010 - redundancy money will be nice though.

    Proud to be a Friend of Niddy.
    no idea what my nerdnumber is - i am now officially nerd 229, no idea on my debt free date
  • oscar52
    oscar52 Posts: 2,272 Forumite
    ZTD wrote: »
    Well they would - they usually charge 3% per BT.

    Actually, its gone up - 4% (no max) but this is an "Admin" cost (apparently)
    No Longer works for MBNA as of August 2010 - redundancy money will be nice though.

    Proud to be a Friend of Niddy.
    no idea what my nerdnumber is - i am now officially nerd 229, no idea on my debt free date
  • ZTD
    ZTD Posts: 24,327 Forumite
    oscar52 wrote: »
    Actually, its gone up - 4% (no max) but this is an "Admin" cost (apparently)

    So 4% on money you can generate on 5.8% divided by their reserve ratio (up to 12.5 for banks).

    Not a bad margin.
    "Follow the money!" - Deepthroat (AKA William Mark Felt Sr - Associate Director of the FBI)
    "We were born and raised in a summer haze." Adele 'Someone like you.'
    "Blowing your mind, 'cause you know what you'll find, when you're looking for things in the sky."     OMD 'Julia's Song'
  • skint_spice
    skint_spice Posts: 13,555 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Gemmzie wrote: »
    Nope, it's on all cards. When you are 0% it's now a normal payment, it'll change on your next statement I expect.

    that's a pain (not the word of choice), I would have thought they would give a bit of notice though? not had a letter from them but they are just going to sneak it in to my next statement? grrr - still got nice new goldfish card so will have to BT the halifax onto that and start bashing the MBNA. Thanks for the info.
    Mortgage OP 2025 £7050/7000
    Mortgage OP 2024 £7700/7000

    Mortgage balance: £34,965

    Money making challenge £78/400

    ”Do what others won’t early in life so you can do what others can’t later in life” (stolen from Gally Girl)
  • Gemmzie
    Gemmzie Posts: 14,876 Forumite
    oscar52 wrote: »
    Just out of curiosity then Gemmzie, what is the min payment now? This news hasnt trickled down me yet (and havnt heard much from other people)

    Erm, not entirely sure, hang on and i'll work it out - seems to be 2.25% on ours.

    We only got a 3% fee though, thankfully.
    No longer using this account for new posts from 2013
  • Gemmzie
    Gemmzie Posts: 14,876 Forumite
    skint_spice wrote: »
    that's a pain (not the word of choice), I would have thought they would give a bit of notice though? not had a letter from them but they are just going to sneak it in to my next statement? grrr - still got nice new goldfish card so will have to BT the halifax onto that and start bashing the MBNA. Thanks for the info.

    We got a letter in with our statement. They might not be able to change it on existing transfers though, or at least have to give you 30 days notice as it's a change of terms.
    No longer using this account for new posts from 2013
  • oscar52
    oscar52 Posts: 2,272 Forumite
    Gemmzie wrote: »
    Erm, not entirely sure, hang on and i'll work it out - seems to be 2.25% on ours.

    We only got a 3% fee though, thankfully.

    Gem, if its your first statement, it wont be £5 as you have the fee to pay as well, it will be £5 next month (unless this has changed)
    No Longer works for MBNA as of August 2010 - redundancy money will be nice though.

    Proud to be a Friend of Niddy.
    no idea what my nerdnumber is - i am now officially nerd 229, no idea on my debt free date
  • Gemmzie
    Gemmzie Posts: 14,876 Forumite
    oscar52 wrote: »
    Gem, if its your first statement, it wont be £5 as you have the fee to pay as well, it will be £5 next month (unless this has changed)

    That's what I thought but the letter said it was a fixed percentage minimum payment during the 0% period :confused:
    No longer using this account for new posts from 2013
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.1K Banking & Borrowing
  • 253.6K Reduce Debt & Boost Income
  • 454.3K Spending & Discounts
  • 245.2K Work, Benefits & Business
  • 600.8K Mortgages, Homes & Bills
  • 177.5K Life & Family
  • 259K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture