A & L interest hike on credit card

gladysgirl

Just received an update from the Alliance & Leicester re the new interest charges on their credit cards. Blimey! 19.9% APR. Shows how far staying with one company for many years benefits one! Taken Martin's advice and applied for the Capital One card and got accepted. Took approx 5 mins.
How's that for saving money in the shortest time poss? :T

Sheepy1209

Lots of A&L/MBNA posts around here - mine has gone up to 34.9% :mad:

Like you, I was with A&L long before they transferred over to MBNA - I wouldn't have touched MBNA with a bargepole otherwise!

yorky1000

Is it legal - mine's 34.9 as well & I can't pay off the whole thing yet. Surely this is the same sort of thing as £30 charges. Its obscene.

dhassen

Unfortunately it is legal, somewhere on the credit agreement you'd have signed it'll say that (if it's a variable card, like most) the lender can change the APR at any time... we've all agreed to it!

clio

Are A&L part of the mbna group like Virgin is??

dhassen

As far as I was aware the A&L cc is run by MBNA

jimbo26

At this rate Vanquis will be offering balance transfers deals

clio

DHassen
just the CC and not the bank side of A&L like their current accounts etc?

dhassen

clio, I'm not 100% sure, but I'd assume that it's JUST the CC...... I've had a look at their site and there's no mention of their current accounts or loans being issued by anyone else