MBNA Problem

NZGirl_2

jonnyb wrote: »

Thanks NZ for using the word problem, instead of rip-off.

I think you might have had a chance of them re-instating your preferential rate if the economy was in its "pre credit crunch" state.

If the charges for late payment were more than £12 then you might have a chance of reclaiming, but as that is the level suggested by the OFT as fair, then I doubt you will get them back.

And as Yorkshire Boy says, no chance on the interest reclaim either. The deal is that they offer you the preferential rate if you stick to their terms and conditions. You admitted that you missed their deadline, and their "punishment" has fit the crime, as laid out in their terms and conditions.

Infact it was last August so it was prior to the crunch.

I thought the OFT had ruled that the charge had to be relative to the work done and if they had not done anything then surely even 12 can be queried?

Regards the relationship between punishment and crime, I missed a payment of around 200 pounds for one day and it cost me about 600 extra, that is a bit much.

And I don't mind adhering to T & C but why shouldn't they have to stick to rules laid down by the FSA?

And you will probably accuse me of bleating, probably too much time in NZ around all these sheep:p

clio

Get the mint sauce out it's dinner time lol...

jonnyb

http://www.oft.gov.uk/news/press/2006/68-06

This link is to the OFT regarding card charges. You are entirely right that even £12 cannot be considered fair, according to that article. Good luck with any claim.

Because I have been lucky enough not to need to claim any card charges back, I have no idea what even Martin's official line on a £12 fee is now.

And I don't think you are bleating; you didn't use any of the phrases that I dislike. I realise that I am becoming more Victor Meldrew every day, but I can't help myself.

Besides, you knew the small print; you were just unlucky to be late. It's the ignorant fools who come crying on here that life is so unfair, when they have not checked everything out first, who really wind me up.

neverdespairgirl

NZGirl wrote: »

I know it is in accordance with their T & C but so are the other charges that they make that people seem to be able to claim back. It cost me hundreds of pounds for being one day late, as I said, the punishment does not appear to fit the crime.

Also the late payment charges are in the T & C and these can be disputed so what's the difference?

The difference is that a late fee is charged as a penalty for going overdrawn, and the argument is that it is disproportionate to the actual cost of breaching the contract.

With a 0% or low % interest deal, it's not quite like that. The bank says, "we will lower your interest rate to X only as long as you do Y".

neverdespairgirl

NZGirl wrote: »

Infact it was last August so it was prior to the crunch.

I thought the OFT had ruled that the charge had to be relative to the work done and if they had not done anything then surely even 12 can be queried?

that's if they are charging you for breaching the terms of the contract.

Here, they aren't charging you, they are withdrawing the special deal.

NZGirl_2

There was 12 was an over the limit charge caused by the increased interest and a 12 late payment charge. They didn't send any letters out so I figured I might include those in my claim and see what happens.

Tozer

petera74 wrote: »

I had the same and I was furious to say the least.

Make sure you send a letter of complaint to MBNA. Do not telephone, they take no notice whatsover.

I Complained by letter and they said they would transfer me from 29.9% form 16.9% after a long battle. Its worth it. Make sure you highlight that you have been in discussion with the Financial Obudsman, get a reference number from them and include it on the letter.

Hope you get back to the going rate you deserve.

MBNA are con merchants and will try every trick in the book to up your rate.

Good luck

Peter

What discussions with the FInancial Ombudsman? To my mind there was an offer extended to you. You didn't comply with the terms of the offer and the offer was withdrawn. I think Neverdespairgirl is absolutely right.

Trembling_Turnip

The big print giveth and the small print taketh away...