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MBNA via A&L
angusw_2
Posts: 1 Newbie
in Credit cards
Have heard people have got problems with EGG withdrawing their services as considered a bad rating risk.
MBNA did this to me a few months ago, without notice, did not renew my credit card - even though I pay a set amount by DD to cover and have never defaulted. When questioned several times with not much help, all I could get from them was I'd missed a couple of mortgage payments within a few months therefore classed as a high risk. Not to them I feel as they had been getting their money. Now they've hyped their rates and can't even spend what I'm allowed as shown on statements. Is this legal???
MBNA did this to me a few months ago, without notice, did not renew my credit card - even though I pay a set amount by DD to cover and have never defaulted. When questioned several times with not much help, all I could get from them was I'd missed a couple of mortgage payments within a few months therefore classed as a high risk. Not to them I feel as they had been getting their money. Now they've hyped their rates and can't even spend what I'm allowed as shown on statements. Is this legal???
0
Comments
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Is this legal???
In short, yes. Those 3 words get asked it seems quite frequently when something isnt to someone's liking.
Whether they put you have available credit of £1 or £1,000,000 on your statement, you dont have a right to spend it and facility can be withdrawn as and when they feel neccesary, whether this is right or wrong has beed discussed frequently on the boards but its the way it is.
If you've missed some mortgage payments as well recently, it can hardly be suprising that they are now cautious in lending you more money0
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