Had £12000 on a 0% balance transfer deal with MBNA. Paid the minimum
payment of £5 every month by standing order.

Last month, they changed the terms and conditions and changed the
minimum payment to £10. Yes, I know I should have checked my
statement...

Anyway, by accidentally not making the minimum payment, I got charged
£12 late payment fee, they removed my 0% balance transfer deal, and
charged me interest of nearly £200 !!!!!!

One simple mistake by me and it costs me £200+ !!!!!

Spoke to their customer services and they really couldnt care less.
Even though they understood what had happened they refuse to budge.
Opportunistic or what ???? The thing is I've had an MBNA credit card
for about 20 years and this is how they treat me.

I reckon that they are being very mean. You should consider trying to dispute the amount of the charge. It is fair for them to charge something but not to penalise you so much. At the very least, you should grumble very loudly and consider contacting the banking ombudsman.

Personally I have all my credit cards set up to automatically pay the minimum or maximum (as suits me) each month by direct debit (rather than standing order). That way, it's not down to me to remember the payment date and amount. If I want to pay more and forget, it's not the end of the world.

I did have a grumble recently when I found that the transaction fee that got added to a balance transfer was being charged the full rate, rather than the promotional rate of interest.

maxsteam:

I reckon that they are being very mean. You should consider trying to dispute the amount of the charge. It is fair for them to charge something but not to penalise you so much. At the very least, you should grumble very loudly and consider contacting the banking ombudsman.

Personally I have all my credit cards set up to automatically pay the minimum or maximum (as suits me) each month by direct debit (rather than standing order). That way, it's not down to me to remember the payment date and amount. If I want to pay more and forget, it's not the end of the world.

I did have a grumble recently when I found that the transaction fee that got added to a balance transfer was being charged the full rate, rather than the promotional rate of interest.

I am going to dispute and have contacted them in wiritng which, I find, is usually much better than speaking to the phone reps.

Yes. Agreed. I should have used a DD not an SO.

I was the victim of MBNA too. I transferred to a 0% balance transfer card too. Likewise I set up a standing order to pay the minimum payment every month ensuring it cleared with a few days to spare.

After a couple of months they moved the repayment date forward by 4 days so my payment arrived ONE DAY late. Thinking everything had been set up I didn't check my statements for a couple of months (I know that sounds daft in retrospect). They charged me a £12 late payment fee plus they had withdrawn the 0% deal. As a result they had added a further £170 interest..

I complained nicely. I complained strongly. I complained in writing. I threatened to go to the Ombudsman, Watchdog, etc. Eventually after numerous calls and letters they refunded £50 of it. It was particularly irritating since I had just paid them a 3% balance transfer fee too to switch to them. When I researched the blogs and forums I found out just what sort of reputation they have both here and in the USA.

So my advice is AVOID MBNA LIKE THE PLAGUE

Note: This post has been moderated for legality. Please read the moneysupermarket.com User Community Standards and Terms of Service. Cheers.

We are putting together a story for a major national newspaper at the moment on this very subject. Would you like to be a case study for the story?
If so, please email me on tim.newhouse AT moneysupermarket.com

Just sent them a complaint in writing so waiting to see what they say about this.

They have reinstated the 0% but, so far, wont budge on the £180 interest.

I fully intend to see if I have a case with the Ombudsman if they refuse me.

Thanks to Tim MBNA have now refunded ALL the charges.

After I spoke to Tim, he passed along my details to MBNA. The Senior Press Officer of MBNA called me back almost immediately and agreed to look into it. Phoned back the next day to tell me it was all being refunded !!!

Result !!! Excellent Tim - thanks for that. Big thumbs up to moneysupermarket from me !!!!

Tim,

i also have had bad experiences with MBNA. i took up a 14 month 0% deal last year and also after some doubious late payments due to banking transaction times and i also had my promotional deal removed and am facing 34% interest on a £8000 balance. i am looking to move the balance to another card, but the thing that is worrying me is that as i am engaging with other card firms i am finding that they wont accept balance transfers from MBNA, Tesco being one.

why i dont know, but if i dont find one that will accomadate i am stuck at MBNA with no way out. can this be right? is it premeditated ? are other cards blocking who they will transfer from?

i certainly would not recommend MBNA to anyone.

"what other ways" - my credit card accepts cheques in the post, cheques or cash over the counter, internet or phone bank transfers among other methods. If you look on the back of your statement, you will see which payments your card will accept.

Personally I do not deal with MBNA.

Bizzy,
I would imagine it's only the size of the transfer that is bothering Tesco.
Tesco won't accept balance transfers from other RBS issued cards such as NatWest and Mint.
MBNA won't accept BTs from its other cards such as A&L, Virgin and Sony.
Barclaycard and HBOS are two of the other main credit card providers, with Barclaycard Platinum and Halifax One being their strongest BT cards.

Tim, as far as i am aware Tesco can balance transfer to other RBS brands. Although Natwest, RBS and Mint cannot transfer between each other.