MBNA from 1.454% to 2.075

samiii_2

I got a letter the other day that they are bumping up the rate from 1.454%per month to 2.075%.

I have always had good credit and never default on payments. In November I transfered balance to them on their 0% deal. That expires in May, so typical of these greedy B******s to do this!

Is it worth me calling their rates department and trying to get them to lower it? I doubt it will work,?

Mickey_Monk

Lots of people got a letter from MBNA this week advising of interest rate changes.

Mine was unchanged at 1.4566%
Wife's was from 1.3133% to 1.5274%

BenL

Hopefully you have never spent on the card so you are not accumulating interest at the moment.

Were you planning on shifting the debt again anyway?

Shift the debt and close it down (or keep it open if you need to use it for 50 odd days of interest free credit when paid off in full costing MBNA money to administer your account with no reward for them)

scott_lithgows

It is worth phoning up or just transfer to another non mbna credit card with 0% deal and close the mbna one down.Wife,s rate was put up to 35%,just waiting for the transfer to go through then it,s getting closed.

vbrindle

I've just got a letter from Virgin Money (MBNA) saying my APR is going up to 28.9%, that's DOUBLE what it is now.

I am fuming.

How am I supposed to clear off debt when they pull tricks like this? I'm already in a mess and it feels these companies are trying to sink us.

Don't know what to do as I've had 2 failed applications on credit cards

vbrindle

scott_lithgows wrote: »

It is worth phoning up or just transfer to another non mbna credit card with 0% deal and close the mbna one down.Wife,s rate was put up to 35%,just waiting for the transfer to go through then it,s getting closed.

Well I just tried and they said they would try but after being put on hold they said no. They told me to phone in 3 months time.

jimbo26

A search of this site will reveal that this a fave trick of MBNA. Suck you in then shaft you. My advice is to avoid them like the plague.

vbrindle

It seems Virgin Money shaft you even more.

How many people realise when they apply for a Virgin Credit card that it's done by MBNA until they already get the card?

Also when they told me on the phone that it wasn't personal I told them that I take it as personal as it seems nobody has got exactly the same change of rate.

If only I could shaft them........

clio

is mbna linked with virgin or is that mbna europe or are they both same company.

vbrindle

Virgin don't have a credit card as such. Just like a lot of things really, they sell the brand but the debt you owe is to MBNA. Well it is in my case. Does anyone have a Virgin Credit card which isn't issued by MBNA?

*edit* oh and MBNA are the same as MBNA Europe as far as I know.

isica1903

I had the same letter from Virgin Money today saying my interest rate has increased to 29.9%!! It was already increased a few months ago to 20something.
Is there anything I can do? I have recently given up work after having a baby so I doubt that I would be able to get a new card, omg already paying £40 ish per months in interest now its gonna be even more!! And my washing machine broke today as well