MBNA 0% balance transfers - BEWARE !!!!

wayoflife

This is just like the bank charges argument....

Credit card companies are there to make money, just like banks they arent your friend. There is very little point in moaning when this happens as you should have read the T&C'S, particularly considering you have such a large credit limit...

as far as you saying "this is how they treat you" for being with them for over 20 years they could say the same about you, they have been lending you money for over 20 years...(and if you have always paid your balance off in full you have had FREE credit I might add, with costs of statements and new cards/admin costs all being absorbed by them) and you don't make the right payments and then moan, this is how you treat them!

I am the first person to stand up and say something when a genuine error has been made, or wrong advice given but this is absolutely not the case
it is entirely your fault and no one elses. Credit is not a right it is a priveledge and when you take out a credit card you are signing up to an agreement,

you also agree to the T&C'S and the clause which always states the company has the right to change the T&C'S providing they give you notice

You should have recieved a letter at least 28 days in advance warning you of any changes in T&C'S. Also it will have been on your statement.

If you had a DD, not only are you entitled to an immdediate refund, but you can rest assured that you will always make the minimum payment.

I cant understand why on earth you would have set up a SO??

My question is if you can't be bothered to look after your finances in this case, how the hell did you manage to get a 12k limit? this is frustrating I bet for many moneysavers and wannabe stoozes who would love to have this kind of credit

Gorgeous_George

paulfoel

You haven't been charged £200. You simply haven't saved £200. Without people making mistakes like this there would be nothing in it for the company to offer 0% deals. So, you can have a warm feeling that you are helping others.

If I was you, I'd find another card to transfer the balance and set up a DD for the minimum payment AND a standing order for any additional payment you may wish to make.

GG

[Deleted User]

I dont understand why there seem to be loads of people on this board who seem a bit jealous that I've got a 12K credit limit.

So what? I'm not on here to boast about it so why the bad vibes?

Yes, I've got a decent job, which pays OK and my credit record is pretty good, but I'm by no means anything special, so whats the big deal ?

chuckles1066

[quote=[Deleted User];8209057]I dont understand why there seem to be loads of people on this board who seem a bit jealous that I've got a 12K credit limit.

So what? I'm not on here to boast about it so why the bad vibes?

Yes, I've got a decent job, which pays OK and my credit record is pretty good, but I'm by no means anything special, so whats the big deal ?[/quote]

Because you came on here having a moan about the fact that MBNA had changed their t&c's and tripped you up?

BTW, my MBNA credit limit is £15k............but I also read any literature they send me

CannyJock

Why's this guy getting flamed?

Sure he should have had a DD, but he didn't. If he hasn't set it up yet then he deserves all the flames for sure.

Basically, he's had his fingers burned, like most people get at some point in their life.

All he can do is chalk it up to experience, and if it's any consolation they're all as bad as each other, MBNA aren't any worse.

Paul, if you want a bit of revenge, read up on the stooze board and take the steps necessary to use MBNA's money to MAKE money from them. It won't make you rich, but making money from them will be 10 times sweeter because of the experience you've had with them.

1882

Perhaps I'm missing something here but generally minimum payments are a lot more than this - 3-5% (£5 minimum) per month. Do MBNA not do that then - I'd be quite happy as I'm just waiting on my newly applied for MBNA card and have transferred a balance (a mere £1k).

As to your £12k limit I had one of their cards many years ago and they were constantly upping the limit without me asking, it reached £8k by the time I cancelled it (owing nothing as I paid it off every month without going even remotely near the £8k of course).

ravenk

I had a standard MBNA card , that gave me a credit limit of £19,000.
However this card is clear and charges standard interest rate for the card.
I applied and got a Virgin card. This card gives me £15,000 at 0% for 15 months. Whats clever is that MBNA gave me this large limit and reduced my £19,000 limit to £6,000. Well done MBNA. You gave me the high credit limit where I wanted it. On the virgin card.

Simple competition.
Can anyone beat a £19,0000 limit ?
Thats the opening bid :-)

neverdespairgirl

My parents now have a £60k limit on their Barclaycard, and I have a card on the account. :T

ravenk

Wow ...60K ....
You could spend your inheritance now :-)


Higher bidders anyone ?

YorkshireBoy

ravenk wrote: »

Higher bidders anyone ?

A poster on the stoozing site claims to have a total of £70K, spread over 5 cards with MBNA.

He also claims to be able to swap these limits around to maximise his profit on individual stooz offers.

http://www.stoozing.com/cgi-bin/forum/YaBB.pl?num=1198799618/7#7

As I commented on the above thread though, MBNA say (in the T&C's) the highest credit limit they will grant is £50K, and many lenders limit their exposure to unsecured debt to £25K per customer.