MBNA credit card hell

misstree_2

clio wrote: »

Is there no way you could get another 0% card, you may not get the right credit limit but 2 or 3 grand and BT that over to it - it would make things a little easier.

I have thought about trying but am afraid I'll get turned down and that will affect my credit rating further. I should send off for my reports again but I know already that it's not going to be good.

bethanyrayne

misstree wrote: »

Yet another update about this farce!

Ok, here goes..as I said previously, my partner paid off the arrears for me that had accumulated since they had increased the interest. Everything was fine and I was back on track as they had reduced my interest to what it initally was before this mess started. All was well, and I felt a massive relief.

When I went to pay my monthly payment online, I noticed an entry on my statement for a purchase that I hadn't made. I rang immediately to query it and they said they would investigate. The guy I spoke to couldnt've been any nicer and helpful about this.
About two days later, I received a letter informing me of a fraudulent attempt on my card(this was dated about 2 weeks previous). How do they know that this was a possible fraudulent attempt in the first place?
Anyway, they said they would investigate and close that account and send me a new card with a new number. I had a letter about 3 weeks later saying that they wouldn't issue me another card due to my current situation. I was annoyed by this, but decded that I didn't really want the account anymore so decided not to query it.

Now about a week ago, I received another letter stating that my interest rate would increase to 34.9%..AGAIN!:mad: This will take effect from next month.
I immediately went into panic and all the stress started again. I rang them up and explained that I'd already been in this terrible situation over the months previous and that I would not be able to meet these higher payments. i got transferred here, there and everybloodywhere. Finally I was put on hold by the 'interest increase dept?? while they looked into it. I was then given an automated message that basically said...you have been unsuccessful in your attempt to have your interest reduced..please write to us if you require further assistance! An automated response..!!!!!! is that all about??!!
Anyway, I've yet to write the letter as I haven't been well lately, but will do it this week.
I just cannot believe that I'm going to have to go through all this again. My partner has said that he will help as much as he can for the next couple of months..but what's the point, cos there is no way that I can afford to make these higher payments after that.
I am so worried about it all. I may try to have a loan and see if I can pay it all off or failing that I will have to go on some sort of reduced payment plan, which I know will affect my credit file but I don't know what else to do.

Can anyone offer any advice cos I'm at my absolute wits end with all this. I am really feeling victimised by this company!

MBNA and by association VIRGIN are real scum! Go to CAB they will take the weight off your shoulders and just in case someone didn't hear me the first time, MBNA and by association VIRGIN are real scum!

ellice

paid of virgin transferred to 5.9 lob on bank of scotland.
Now virgin started sending cheques 5.9 until june 2009.no way using them .
after trying to double my rates.

steer clear of mbna LOAN SHARK RATES.

jpwjpw

i had the same thing happen to me, luckily i pay the balance off every month but i had some fraudulent transactions on my card, they refunded them, sent me a new card and then increased the APR to 34.9%!

Seriously, 34.9% is ridiculous, shouldn't be allowed. Luckily I'm able to vote with my feet and I'm not going to use the card for spending now out of principle. I have 3 MBNA cards and they do have good 0% offers often but miss a payment and they are very harsh.

clio

JPW
Good for you m8 on giving mbna no business via your CC.
btw what makes the credit card company increase a persons apr, is it because they are looking at peoples credit files and making assumptions on stuff they see!!. Argos [ run by barclaycard] increased my apr[17.9 -20.9] but i got 60 days notice and i don't have any balance now payed it off because they fobbed me off when i enquired as to why it was going up..

misstree_2

clio wrote: »

JPW
Good for you m8 on giving mbna no business via your CC.
btw what makes the credit card company increase a persons apr, is it because they are looking at peoples credit files and making assumptions on stuff they see!!. Argos [ run by barclaycard] increased my apr[17.9 -20.9] but i got 60 days notice and i don't have any balance now payed it off because they fobbed me off when i enquired as to why it was going up..

Basically, it's because rates are 'variable.' That was the only explanation I was given regarding my APR increase. Actually, when I say 'explanation' what I really mean is that seems to be the only consistent thing MBNA will tell me. I have spoke to countless people at that company and that is the only thing they will tell me. I have told them all that I understand that they can change the rate any time they god damn wish, but why such a big jump, but they cannot answer it and basically fob me off. Imagine a politician when they are asked a question that they find awkward to answer, that's basically how these monkeys act!
What with all the economy troubles and credit crunch, it seems like banks and other financial institutions can do what the hell they like, regardless of how much anguish they are causing their customers. I really hope and pray that some law will be introduced to stop all this cos the way I see it, it's going to make things worse for the economy and people's financial situation. I suppose I can understand the clamp down on giving credit so easily, but for the ones that already have the credit and pay their bills on time, with a company that they've been with for X amount of years, isn't it doing the company more harm by penalising us? I know it'll probably get to a point where I won't be able to pay this increase, so therefore will try to come to some sort of reduced payment plan..and believe me, I will get it as minimum as possible cos if it's going to affect my credit file anyway, then I may as well do the best deal for me, and it will NOT be paying them back a figure that they would like! Therefore, surely this will affect them too as I won't be spending any more credit with them and they'll be getting less money off me than what they do now.

Sorry for the rant everyone, but I am so bloody mad about this and am determined that they are not gonna get the better of me! :mad:

vbrindle

I know how you feel, they increased mine from 14.9% to 29.8% APR. The difference from purchases and cash is so minute.

I've sent them a letter asking them how they justify doubling the interest rates. Still waiting for a reply.

The way they are going they are CREATING a problem. They are tipping people over the edge who would be able to pay normally.

Maybe they want people to miss payments.......Maybe they're mad!!!

misstree_2

vbrindle wrote: »

I know how you feel, they increased mine from 14.9% to 29.8% APR. The difference from purchases and cash is so minute.

I've sent them a letter asking them how they justify doubling the interest rates. Still waiting for a reply.

The way they are going they are CREATING a problem. They are tipping people over the edge who would be able to pay normally.

Maybe they want people to miss payments.......Maybe they're mad!!!

I agree on all points made! :T

clio

Misstree
Hope you can get a good result, post back will you and tell us the score with them. Good Luck \0/

misstree_2

Well, time has passed and I thought everything was going to be ok - wrong! The letter I initially wrote, I've still has not had any proper response. I think I've had two letters in all, one saying that they would look into it, the other saying basically they hadn't got around to it and gave me some date by which they would - of course I never heard anything!
My statements had been arriving and the interest had not been increased, which I was cautiously relieved about. Anyway, yesterday I received my recent statement and everything has now changed. My minimum payment has been doubled and I have no means to pay it. I know I'm gonna have to ring them up and go through all the stress and embaressment of what I did before, which was basically pleading with them to let me carry on at where I am, as I just cannot pay them otherwise.

I am at my total wits end with all this. Things have been real tough the last few weeks as my grandfather is in hospital, and that and all the stress to go with it, has left me feeling completely exhausted....I'm in those 'ignore it and perhaps it'll go away moods'...but of course I know it won't. I guess my only option is to go on a reduced payment plan but of course that effects my credit file, but I don't see what other option I have.

So miserable.