Have you checked your MBNA APR recently???

Scared4future

This is probably something that doesnt affect many of you master Moneysavers but being a newbie Debt-Free Wannabe and finding out that I was being charged a whooping 34.9% APR by MBNA, I called them last night.

It seems that there are alot of people out there that are paying this rate, to 'compensate for financial loses elsewhere'... (check out the monthly interest rate on the back page of your statement.. in teeny weeny writing!!), seems that wonderful word 'Variable' can be used to great effect by financial institutions!

After a 2 min call to their customer services who put me through to the loyalty team it was reduced to 24.9%... although not great is still cutting 6 months off my Snowball!! :T :T

A note of advice though... if your call is answered by someone who says that 'APR rates are not negotiable' make sure that you ask to speak to the loyalty team... as the first person I spoke to point blankly refused to help. :mad:

YorkshireBoy

Scared4future wrote: »

A note of advice though... if your call is answered by someone who says that 'APR rates are not negotiable' make sure that you ask to speak to the loyalty team... as the first person I spoke to point blankly refused to help. :mad:

...or alternatively, telephone the "loyalty team" directly on 0800 783 1116.

Scared4future

YorkshireBoy wrote: »

...or alternatively, telephone the "loyalty team" directly on 0800 783 1116.

:T Thank you.. see told you I was new to this Money Saving lark!!