***LATEST***Is the MBNA party over?

charlie12

I read on another thread that First Direct and LLoydsTSB do not submit your credit card details to the credit reference agencies unless you miss payments.

If MBNA (and perhaps others) are going to start being stricter about total credit limits in comparison to income these cards should be part of every stoozers collection.

Good point, same goes for HSBC cards

ANB_2

???
Smartsaver,

Dare I ask?

Please exactly where do I find the "New card tarts" thread?

Is it one of the 38 pages under the article "Credit Cards"?

If yes which one of the 38 pages?

Thanks

WhoYa

Appologies if this link does not work or is wrong but you should be able to find the "New card tarts" thread here ANB.

http://forum.moneysavingexpert.com/cgi-bin/yabb/YaBB.cgi?board=Questions;action=display;num=1098102149;start=10#10

ANB_2

Thank You Who Ya,

The link worked.......... Now I understand what everyone is talking about.

Cheers!

smartsaver

???
Smartsaver,

Dare I ask?

Please exactly where do I find the "New card tarts" thread?

Is it one of the 38 pages under the article "Credit Cards"?

If yes which one of the 38 pages?

Thanks

Sorry if I appeared abrupt I have a broken elbow and am in pain.. I am usually quite friendly :-[

peterbaker

Good morning people!

Well this morning MBNA have administered the chop I was talking about back in October so I suggest you all start managing your "revolving credit line" with MBNA very carefully.

At 0815 I got a call from the same woman I had an argument with last time I got a call. She said she was following up with the review of the limit against income that she had promised in that call earlier this year, and that in accordance with condition 1.1 something or other in the Terms and Conditions, the limit of my revolving credit facility with MBNA had therefore been reduced to £7,500 with immediate effect. It had stood at £21,900 for a number of years.

My current MBNA balance is zero (I paid it off in November after the last 0% promotion they gave me had ended), and my Status history for the MBNA card on the Experian credit reference database is clean as a whistle. MBNA arrived at the new credit limit based on a declared income a few months ago of £20,000. but bearing in mind that my current income status is "unemployed", I haven't a clue how it squares up now! She didn't ask about the current position, and I hadn't the heart to tell her!

I told her that I would publish details of their action here. She said that was up to me. I said darned right it was and for good measure I also told her:

1. That MBNAs unilateral action was very unfriendly and unwelcome.
2. That MBNA should perhaps take its American ar*e out of the UK marketplace
3. That she could stick the MBNA card where the sun don't shine.

She said she didn't have to listen to that and would be following the call up with a letter to confirm it.

So the moral of this thread?

Don't risk multiple applications across the spectrum of MBNAs affinity base if your income has reduced since last time you advised MBNA of income.

Better still, be very wary of using MBNA at all. Remember the American credit card scene is more mature than ours. MBNA has played hardball there. The UK credit card market has been wild, and MBNA has played both fast and loose. Watch out!

zcaprd7

Well I think another moral is to be nice and friendly to credit card call centre people?


My suggestion is to get the A&L (MBNA affiliated) card - it has 0.5% cashback - which I use for shopping and pay off in full.

I attribute a small portion of my overall MBNA limit to this card and the rest is moved back and forth between two other MBNA cards as they offer existing customer deals (not that they are much good now with the BT fee)...

peterbaker

Well I think another moral is to be nice and friendly to credit card call centre people?

Yeah I agree that friendly subservience often has its place, but once the gloves are off, as it was plain they were back in October when they made that unsolicited non-call centre call to me (it was a special department), MBNA weren't gonna get subvervience from me, not in the next million years anyway;)

As I said, manage your MBNA relationships carefully. Expect the unexpected, or leave well alone.

Rafter

Peter,

What exactly gives you the right to expect a company to lend you £21,000 free of charge and then to give some poor call centre worker some abuse about them restricting your borrowing to more sensible levels?

In fairness if you are unemployed you shouldn't be being offered any credit!

R.

johnllew

I can't see that MBNA have done anything wrong - your income has changed and they have a right to re-assess the risk.

We've made thousands of £££s out of MBNA over the years. You've got to watch your step with them admittedly (as you do with any CC issuer) but I shall stay with them as long as it's profitable.