MBNA Attempt To Double Interest Rates (Again)

clio

Stew
bet your kicking yourself to be had by the sharks... they are so sneaky it's unreal.

MWH1

clio wrote: »

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 !!

A while back I transferred some balances on to this card and have never used it for spending (as per Martin's rules on tarting). This card serves no purpose as Ive cleared the whole balance off to Barclaycard and Natwest. I'm going to give it a couple of weeks and then try MBNA again. If there position hasn't changed im cancelling. I don't need £12K of available credit sat on my credit file scaring off potential future lenders. I wasn't really paying attention to how long the 5.9% lasts for as I want cashback or an option to stooze. After all, this is supposd to be a Platinum REWARDS card MBNA!!

Incidentally, for those interested, Barclaycard did me a hell of a deal despite me being an existing customer. I cleared my balance with them and called up the UK office (very important!) and said that I was considering leaving. I was put throught to customer retentions who said I could transfer balances from other cards at 0% until the 1st of July 2009. Even better, I negotiated to pay half the normal transfer fee i.e. 1.5%. A Christmas cracker early!!;) Also of note, earlier this year Barclaycard gave me 6 months of 2% cashback as an existing customer. Dont speak to the operators abroad as my experience is they couldn't give a hoot about your account. If anyone wants the number for the UK office let me know.

paintbrush

I'm glad I'm not the only one who is being shafted by MBNA. My current interest rate 30.34% and they know I cannot afford to clear my outstanding balance.
This level was reached not by a doubling of rates but by a couple of rate increases of 3.845% at a go.
When queried, their helpful staff in their Marketing Dept told me "It's a variable rate"
I pointed out to them that my "variable" interest rate was and had always been one way only, that being skywards.
The response was "That's the new rate and we're not changing it back"

These are the lovely sort of people who could burn alive right before my eyes whilst my bladder remained full to bursting.

Csbaker76

Hi everyone i know this post is old but i just wanted to say that i have been through a similar situation when MBNA doubled my interest rate. I calculated that it would take me 60 years plus to repay them and i would pay them tensof thousands of pounds in interest . I have thankfully worked as much overtime as possible and nearly repayed them now. However i'm still angry with them as i feel robbed so just to let off some steam i joined a group on facebook called MBNA SUCKS. Take a look and join as if we get enough members then we can maybe come together and complain about them as this is really aggressive lending and i don't want other people to be in a simliar situation!?!?!?!