late payment - but MBNA put me back on promotional rate.

Martin_y

Hi Everyone

MBNA
Took an MBNA card recently (dec), and transferred 8k from a few other cards. Asked my wife to pay the first payment. She paid £250 on time, but the payment should have been £255 odd. So the statement arrives in Feb showing a late fee of £12, and an estimated interest charge of £80 ! Eeeek.

I just called the call centre now, explained what happened, (of course their computer removed my promotional rate), but a nice lady called Jackie put me back on the promotional rate of 0% till Jan 09. To my surprise, she also refunded the £12, which I wasnt expecting !

About me

I want rid of this debt, I got into the poo a while ago when my company closed down, and I was out of work, so the cards built up while I spent a year contracting. Have a reasonably good permie job now, but ...

The killer currently is my little boy's nursery fees £55 per day !

Ok, so you did the quick math and came out at £1k / month, more than the mortgage!! We get some help from the govt, and my wife takes every 2nd Friday off, so it actually comes out at around £800/month or so. So when he starts school in Sep, the MBNA card is going to see some BIG payments to flatten it.

Heres hoping I can be debt free in a year !!:rotfl:

adrian2000

Martin_y wrote: »

Hi Everyone

MBNA
Took an MBNA card recently (dec), and transferred 8k from a few other cards. Asked my wife to pay the first payment. She paid £250 on time, but the payment should have been £255 odd. So the statement arrives in Feb showing a late fee of £12, and an estimated interest charge of £80 ! Eeeek.

I just called the call centre now, explained what happened, (of course their computer removed my promotional rate), but a nice lady called Jackie put me back on the promotional rate of 0% till Jan 09. To my surprise, she also refunded the £12, which I wasnt expecting !

About me

I want rid of this debt, I got into the poo a while ago when my company closed down, and I was out of work, so the cards built up while I spent a year contracting. Have a reasonably good permie job now, but ...

The killer currently is my little boy's nursery fees £55 per day !

Ok, so you did the quick math and came out at £1k / month, more than the mortgage!! We get some help from the govt, and my wife takes every 2nd Friday off, so it actually comes out at around £800/month or so. So when he starts school in Sep, the MBNA card is going to see some BIG payments to flatten it.

Heres hoping I can be debt free in a year !!:rotfl:

Martin,

My best advise would be to set up a direct debit. If you phone MBNA they will send you a form out, then you will never miss the minium payment again. Make sure though that when you set it up that it states on your next statement that it will be taken by direct debit, as it may take a while to set up. If not you will have to make a manual payment.

Adrian

Martin_y

Thanks Adrian.
Yes I setup a direct debit for more than the minimum ( a fixed amount but I wont be using the card).

Actually, Jackie warned me that direct debit can sometimes take 30 days before they take effect, ( No problem, I just paid £1k anyway) so be careful of this. - she said it should show on your statement, and if it doesnt, you should pay, and then make sure the NEXT month's statement shows that a direct debit will be taken.

While she was waiting for my account to come up, I asked her " are you getting lots of Egg Customers now", and she said yes, they are.

westybfd

Hi

Was Offered A Promotional Cheque For 0.9% Till June 08, I Used The Cheque For £7500 And Recd My First Bill For Approx £16 Min Payment And £8 Interest. The Payments I Have Made Since Jan Have Come To Over £500, Until Today. I Recieved A Bill To Say I Was Two Days Over My Min Payment And My Interest Added Was Over £130 And My Min Payment Would Be Over £140 And Charged £12.
I Rang And Took Over 1hour To Speak To The Right Department Who Were Helpfull And Understanding. I Advised I Worked Away And Due To The Payment Dates Being Different Ie One Month Been The 23rd The Next The 27th Of The Month I Arranged Payment At The Beginning Of The Month, To Be Recieved On The 26th
There Reply Was That They Would Honour My Orginal Plan Until June, If I Would Pay D/debit Every Month And My £12 Overdue Charge And Half My Interest To £69.oo And My Monthly Payment Would Be £78.00 This Month. Still Confused. I Asked What My Interest Would Be In June And His Reply Was Would Be 29.9% After The Offer Ends However He Reduced It To 17.9% So My Interest Would Be £90 And Min Payment Would Be £110 ......

Matt