MBNA Attempt To Double Interest Rates (Again)

yorkshireman08

purpleparrotuk wrote: »

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?

Don't tell them you can't pay.

Just make a formal complaint about the way you have been treated.

Bismarck

mhifoe wrote: »

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

Completely agree....you need to give an impression of willingness and ability to pay up and go away or the scent of your blood will make them tighten their grip on you and they'll try and bleed you dry.

yorkshireman08

I got a letter today from MBNA in response to my complaint.

We are in receipt of a letter from the Financial Ombudsman Service regarding your account.

We are currently investigating your complaint and we will issue you a response within 28 days.

I have enclosed a copy of our internal complaint procedure leaflet for your information.

In the meantime should you have any queries please call the Customer Advocate Office on 01244 672628, between the hours of 9am and 5pm Monday to Friday.

Yours sincerely,

Gail Powell Vice President

billythekid71

Hi,
Can anyone tell me if they got a response from MBNA or the FOS? I've just had a letter doubling my rate to 29.9% with just 11 days notice (they don't date their notices to you, just July 2008) and have gone to the FOS but wondered what the success rate was.
Thanks.

yorkshireman08

Just bringing everyone up to date with regards to this threat I started.

Well MBNA and the Affinity Group have ended their relationship so my credit card account has been closed subject to it being paid.

When I phoned them up about this, I was told not to worry a credit card with just MBNA on it would be sent to me with a new account automatically.

I waited and nothing happened.

I rang them again, and was told I would have to reapply. They put me through to credit card applications and the phone line went dead.

The next day I tried again, and guess wot, every time I got through to credit card applications the line would go dead.

I decided to leave alone, a sensible idea, until last Friday when an MBNA Credit Card came through my letter box.

A quick call and the card was activated. Trouble was the card was declined in a transaction. So I rang MBNA to be told it was a temporary card to replace the Leeds United Credit Card UNTIL the account was closed on the 18th of this month.

However the letter that came with the card claims the card replaces a temporary card which I had been sent (I hope your keeping up), and I have a 0.9% balance Transfer until April 2009 as long as they are transfered by December 2008.

Now remember they closed my account on the 18th September 2008 because of their ending the relationship with the affinity group !!!

However the gentleman passed me to the credit card applications on a rather dodgy telephone line. Applications took my information over the dodgy line which took ages, they then passed me to credit controller where the line went dead.

In other words MBNA must have known that the card I had was going to be terminated because of them ending an agreement with the Affinity Group and put my interest rate up to make more money out of me, as I can no longer use the account.

Complete pratts.............

clio

Y-08
Complete shambles matey, nearly as bad as the footy team of yours [Lufc]
lol ive no room to talk i follow Nufc, we should replace eastenders on telly hehe:) \0/

amandelj

Hey,

Bad news, i have been on the phone to MBNA all morning about the Leeds United cards, aparently the Affinity Group have put a clause in there contract whereby all Leeds United card holders can move over to a basic MBNA account.

If i was aware of this at the beginning i would have got a normal MBNA card in the first place as i have now just thrown £2100 away for nothing.

MWH1

Hi folks. I recently cleared my balance with MBNA and phoned them up yesterday to see if there are any offers available on my account. MBNA have been increasing my credit limit time and again, most recently to around £12K. I have recently enjoyed a 0% period on the account and make all my payments (+more) on time.

I was transferred through to the customer loyalty team only to be told that I could get a balance transfer rate of 5.9%.

I have the Platinum rewards card which apparently offers the customer........no rewards. No cashback, no stoozing. Anyone had any different experiences with MBNA Customer Loyalty recently?? Thanks.:T

clio

MWH1
SO really all that card is a purchase card then?? How long is the 5.9% offer for then is it life of balance !!

StewD

MBNA have just demonstrated how much they value my business...

Have had card for number of years, and always been a full payer. Recently they offered two months where any transactions would be interest free until 2009. Great! Rewarding loyalty.

Turns out...they were tricking loyalty.

If you don't pay 100% of a bill, then you no longer get the 56 days interest free period on subsequent transactions. Thus, when I only made the minimum payment for the 0% transactions, I was no longer a full payer. And so, transactions from September have been accruing interest since purchase date, without me having opportunity to pay them off.

So subtle and sneaky that even when I called up to complain, the initial operator confirmed I had been charged interest in error, it was only when I was put through to the specialist for the refund that I was told it was valid.

So annoying to have been tricked. I searched for the catch on this offer, and am mad I missed this. Agghhhh. Why do companies pay so much to recruit customers and then rip them off for relatively small amounts?

S