Bonny Posted September 11, 2007 Share Posted September 11, 2007 I had a bad experience with MBNA a few years back. I'd got a Direct Debit set up and hadn't used my card for a long, long time. Moved house, couldn't find any MBNA details to let them know my new address. Anyway (yup I know I was naive) I just left the DD to carry on paying out thinking that it'll just pay off the balance and that will be that. Anyhow, about 5 years later I had to sort out my finances and with the help of my bank, managed to get in touch with MBNA and get a statement. In the YEARS of regular monthly payments I had paid an average of £41 per month and my balance had barely even changed. I eventually worked out that had I left it as it was with the DD in place it would have taken me about 300 years to pay off the balance. I don't have any credit cards now. Totally refuse to have one. Link to comment Share on other sites More sharing options...
little_m Posted September 11, 2007 Share Posted September 11, 2007 MBNA have a reputation akin to doorstep loan sharks. This link makes very interesting reading: LINK Link to comment Share on other sites More sharing options...
*_ash_* Posted September 12, 2007 Share Posted September 12, 2007 MBNA have a reputation akin to doorstep loan sharks. This link makes very interesting reading: LINK I've had 2 loans from them in the past and been quite happy with the prices and service. Never had a credit card with them though. Link to comment Share on other sites More sharing options...
mifsit Posted September 12, 2007 Share Posted September 12, 2007 theres nothing wrong in being a credit tart, jump from one interest free offer to another, just watch out for the 2-3% transfer fee's that get added on Link to comment Share on other sites More sharing options...
Le Baron Posted February 12, 2014 Share Posted February 12, 2014 For those of us with an MBNA Credit card. I have noticed that interest charged to my account is sometimes higher than the previous month, even though the balance is considerably lower, (I pay the minimum plus extra to lower my balance) and no other transactions have been made. I have contacted them to point out this "interest overpayment" but all they say is it calculated on a daily basis. My argument is that it is Mathematically impossible to calculate a higher interest charge on a lower balance, even if one or two extra days interest is payable, my balance would have to exceed the previous months balance for them to charge more interest. This has happened on 4 occasions in the last 12 months. What can I do to redress this, anybody know??? Link to comment Share on other sites More sharing options...
GRUSS Posted February 12, 2014 Share Posted February 12, 2014 Yes, I think you better had! Get yourself on martin Lewis's website... It's called card tarting. If you have 12 months of interest free on the balance transfer then on the 10th month (if you've not cleared the debt) apply for another interest free card and carry out another balance transfer. The interest free period will also stop if a purchase is made on the card! Link to comment Share on other sites More sharing options...
Sierra Posted February 12, 2014 Share Posted February 12, 2014 For anyone who uses a zero interest card to transfer a balance, for God's sake, use it for a balance transfer and ONLY for a balance transfer. Scary things happen if you use a card for both a balance transfer, and to buy things. Link to comment Share on other sites More sharing options...
Twiglet Posted February 13, 2014 Author Share Posted February 13, 2014 Blimey, I started this thread 6 and a half years ago! I got shot of my credit cards a good while back. Link to comment Share on other sites More sharing options...
Jeffrey Shaw Posted February 13, 2014 Share Posted February 13, 2014 For anyone who uses a zero interest card to transfer a balance, for God's sake, use it for a balance transfer and ONLY for a balance transfer. Scary things happen if you use a card for both a balance transfer, and to buy things. Not so much now. The law was changed so that monthly payments pay the part of the debt with the highest interest rate first. Link to comment Share on other sites More sharing options...
tzijlstra Posted February 13, 2014 Share Posted February 13, 2014 A) Have an MBNA ad here, very funny B) We've had an MBNA card for well over a decade and never had issue with them, polite, quick to answer both the phone and email and always on point when it comes to any issues. C) they provide you with information when you take out a card, it helps to read it all. Creditcard small print isn't for the faint of heart, if you have a faint heart, don't take a credit card out. Link to comment Share on other sites More sharing options...
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