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    • Melanie 24
    • By Melanie 24 9th Jul 18, 12:34 PM
    • 2Posts
    • 0Thanks
    Melanie 24
    Help with credit card interests
    • #1
    • 9th Jul 18, 12:34 PM
    Help with credit card interests 9th Jul 18 at 12:34 PM
    I have just received my credit card statements from mbna going from 2001 to 2010. As I was going to claim back card charges. But going through the statements the interest rates and charges are very confusing. They are called special cash interest, details interests, other interest and finally cash advance interest!
    Can anyone shed any light on these also can I claim against these as the mount up to over 2000 Of interest!
    Thank you

    Mel
Page 1
    • zx81
    • By zx81 9th Jul 18, 12:35 PM
    • 17,677 Posts
    • 18,814 Thanks
    zx81
    • #2
    • 9th Jul 18, 12:35 PM
    • #2
    • 9th Jul 18, 12:35 PM
    No.

    Interest is charged when you don't clear your balance in full each month and is laid out in your terms and conditions.
    • Paul_DNAP
    • By Paul_DNAP 9th Jul 18, 1:31 PM
    • 180 Posts
    • 201 Thanks
    Paul_DNAP
    • #3
    • 9th Jul 18, 1:31 PM
    • #3
    • 9th Jul 18, 1:31 PM
    You would have to get the terms and conditions for your account to delve into what each type of different charge actually is. Cash advance fee is simple - you withdrew cash using credit card (very bad idea) and special cash interest sounds like some sort of promotional period (balance transfer?) haven't got a Scooby on details interest though, and other interest could just be the standard interest on purchases.
    In any case interest is not generally included in the scope of the "unfair charges" you can claim back, the charges you are looking for are things like if they have added a "late payment fee" or a "missed payment fee" or "exceeding credit limit fee" or "refused transaction fee" and not the interest on the outstanding balance.
    (I say generally, as you may have a case if they haven't been allocating your payments preferentially to the balance attracting the higher interest rates, but that's a different matter than unfair charges.)
    (Although I could be wrong, I often am.)
    • Melanie 24
    • By Melanie 24 9th Jul 18, 1:41 PM
    • 2 Posts
    • 0 Thanks
    Melanie 24
    • #4
    • 9th Jul 18, 1:41 PM
    • #4
    • 9th Jul 18, 1:41 PM
    Thank you it is very baffling. I will write to them and ask them what they are and what relevance are they to my account.

    Mel
    • foxy-stoat
    • By foxy-stoat 9th Jul 18, 1:59 PM
    • 2,188 Posts
    • 1,186 Thanks
    foxy-stoat
    • #5
    • 9th Jul 18, 1:59 PM
    • #5
    • 9th Jul 18, 1:59 PM
    Thank you it is very baffling. I will write to them and ask them what they are and what relevance are they to my account.

    Mel
    Originally posted by Melanie 24
    As already stated, the interest they charged you was for the spending, cash advances or and special interest rates when you used the card.

    You wont be able to "claim" back interest unless it was incorrectly charged.
    • T-G-C
    • By T-G-C 10th Jul 18, 8:46 AM
    • 280 Posts
    • 101 Thanks
    T-G-C
    • #6
    • 10th Jul 18, 8:46 AM
    • #6
    • 10th Jul 18, 8:46 AM
    Aside from the topic, I am shocked that MBNA retained your statement information for 17 years or more. What could they possibly need to keep this for, especially for that long and how would you be eligible to claim back charges, with some being 17 years old now?
    All advice provided is intended for guidance purposes only. For specialized debt advice, please contact either National Debtline or StepChange.
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