Legal Con By Mbna???

SALOPMAN

I have an MBNA Account with a very small sum on it, I wanted approx 4k (Cash advance) on 0% until say Oct/Nov - Having contacted them by phone yesterday I was offered 8.9% then 5.9% finally having to agree to 2.9% being told 0% was only being offered for new business. Feeling happy I went away safe in the knowledge I had a as best a deal as I could. Today in the post I receive a 0% offer by letter until Nov 2008!!! linked to my credit card and credit limit. When phoning I was told the 2.9% would have to stay as I had missed a payment by 3 days on a previous date (on old balance of £70-ish) I asked when the letter was sent and they said it was done on the 9 Jan 2008, I said where had it been till now then?? Also I asked what would have happened if I would have just used one of the Cash cheques with the letter today without phoning assuming it was 0% as stated, the lady told me the offer was withdrawn on the 18th Jan and I would have had to have been charged the full 22% even though I was acting in good faith on the letter???? I am going to write to them as I feel this is not good practise and could cause great hardship to innocent people. Comments pls........

KMW719

Thank for this. We were thinking of borrowing money with these cheques to put in our savings account. We would still have to pay a monthly repayment wouldn't we, not just repay a lump sum in November? Nowhere on the letter does it mention that there is an expiry date for the 0% rate. We will be interested for comments on this subject too.

Bismarck

Wow.

that sounds very strange. How many people would use the cheques as a 0% balance in good faith? It's hardly your fault that the original letter didn't reach you until now...and how can they withdraw it? Sounds like the person you spoke to is confused or making it up as they go along.

the offers do seem to be variable at the moment, depending on how firm you are.....but, like you I'd have thought that 2.9% wasn't too bad.

wonder if they recorded that call for security purposes.....and what is it, our mutual protection? I lose track these days...

SALOPMAN

Hi again have sent them a letter 1st class today complaining about the whole episode so i will report back when I hear from them.