MBNA Attempt To Double Interest Rates (Again)

yorkshireman08

I've had a letter and information pack from the Financial Ombudsman Service who have contacted MBNA on my behalf to tell them I wish to make a complaint.

They have also sent me a form to fill in if either MBNA don't contact me within 8 weeks or if I am still not happy with the response I get from MBNA.

A very quick response from the FOS.

I will keep you all informed of this issue.

By the way if it's happened to you and you want to complain the address is

Ms Pemberton
MBNA Europe Bank Limited
Customer Advocates Office
UK 8825
Chester Business Park
Chester
CH4 9QQ

MABLE

I received a letter from them yesterday advising the apr is going up from 14 to 17%. However we only use for balance transfers and are always offering us promotional rates at 0%.

Bismarck

Our MBNA card went up to about 18% but it's irrelevant considering they keep throwing offers at us although as soon as we got outside the period I'm sure they'd press the "go to 34.9%" panic button for us!

TighterThanTwoCoatsOfPain

just jumped on mine to check interest rate and its still 14.8%... the mind bogles as to how they decide to try and fleece! lol

yorkshireman08

Update.

Just had a call from an Indian call centre..... Would I like to take out protection again identity theft with MBNA.

Can't publish what I said to the poor lady.

It's no point going online yet to see if your interest rate has gone up. It wont come into effect until July's statement.

speedbird1973

Well i got a letter today. They've put my money transfer rate up.. nothing else, just that!! that was worth a stamp!! lol

purpleparrotuk

Please help me

I have £9000 debit on my MBNA card.

A couple of months ago they doubled the interest rate so instead of £107 per month I am now paying £210 a month. They have just upped it again to 35%!!

So I just called to ask what they could do and they will keep it at the current rate before todays increase. I wish I had called a few months ago when they doubled it

Is there anything I can try and do or am I stuffed?

yorkshireman08

purpleparrotuk wrote: »

Please help me

I have £9000 debit on my MBNA card.

A couple of months ago they doubled the interest rate so instead of £107 per month I am now paying £210 a month. They have just upped it again to 35%!!

So I just called to ask what they could do and they will keep it at the current rate before todays increase. I wish I had called a few months ago when they doubled it

Is there anything I can try and do or am I stuffed?

Write to the address I gave in a post further up and make a formal complaint about the way you have been treated, and tell them your contacting the FOS.

purpleparrotuk

yorkshireman08 wrote: »

Write to the address I gave in a post further up and make a formal complaint about the way you have been treated, and tell them your contacting the FOS.

Thanks, I will write to them over the weekend. If I tell them I cannot afford the monthly payments since they doubled the interest rate can they demand the whole amount back?

Is it best to tell them I will transfer the money to another card if they don't lower their rates?

mhifoe

coolsolution wrote: »

I got my letter this morning.Its going up from 15.9% to 29.9% wow great and i also never missed a payment.

whatever i just got 50 odd pound in balance i guess i pay that off and put it into a locker for funeral time (otherwise who the hell is gonna use it?)

untill they come back with a good offer or i decide to say ....off.


thanks guys i thought i am the only one here with this ridiculous MBNA...

Clear the balance, then phone them up and ask for the rate to be reduced.

If they refuse tell them you would like to cancel your card unless they can offer you a better rate. I did this recently when they attempted to increase my rate from 12.9% to 21.9%. The person on the phone pretended to 'speak to her manager' before agreeing to keep my rate at 12.9%.

Note that anyone who is in financial trouble and cannot pay off the balance may have trouble convincing them to reduce the rate.