# MBNA Gold Rates



## dannymur (29 Oct 2004)

with regard to CC BestBuys
where MBNA tops the list for credit cards, can anyone clarify why my Statement (MBNA Gold) shows 1.1678% Mthly Int Rates for:

"BT's & Cheques; ATM & Cash OTC; Retail & Non Promo Cash"

what is the Annual APR for 1.1678% p/mth?

This rate is not mentioned here
MBNA Ireland Gold

(please click Terms at the top)

My credit limit is higher than the €1270 mentioned.

tia, danny


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## Moneybags (29 Oct 2004)

It could be that MBNA's 10.9% in the Best Buys is for new business only. MBNA has been known to leave existing customers on higher rates. Other AAM posters have been able to bargain their way to MBNA's new business rates by threatening to take their business elsewhere.


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## Slim (29 Oct 2004)

My MBNA (Gold) statement quotes rates of 1.4566% on all transactions. is that 17.4792% annually or is that too simple?

Slim 8)


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## dannymur (31 Oct 2004)

hi there all:

I googled both these rates (mine and Slim's) and came up with these results, which are quite startling, to me at least, as i did'nt know that MBMA actually could get away with this practise. needless to say, i will no longer be a customer, as of tomorrow, as i will move to any other card provider which gives a decent interest-free period for balances and purchases.

everywhere you look, MBNA are advertising 10.9% APR (variable) or 0.8696% monthly, but existing "Gold" customers are being hit for rates 4% to 8% higher. 

Surely IFSRA should have something to say about this.

Also, is it appropriate that thay should top the Best Buys, when only new customers will actually get the advertised rates?

1.1678% per month:




Typical APR 
Purchases 14.9% Typical APR (variable) 

Annual Rates 
Cash Advance Annual Rate 16.7%  


Monthly rates 
Purchases 1.1678% per month (variable) 
Cash Advances 1.1678% per month (variable)

============================================================================================

1.4566% per month:



Typical APR 
Purchases 18.9% Typical APR (variable) 

Annual Rates 
Cash Advance Annual Rate 21.4% 


Monthly rates 
Purchases 1.4566% per month (variable) 
Cash Advances 1.4566% per month (variable)


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## demoivre (1 Nov 2004)

*Re: MBNA Gold Rates ( for Slim )*

It works out as 17.9 % which is the same int. rate as was on my MBNA gold. I rang em up and the gave me  the 10.9% rate.
I had no outstanding balance at the time.


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## demoivre (1 Nov 2004)

*Re: MBNA Gold Rates ( dannymur )*

Ring them and they should give you 10.9% as they did for me. I don't see that MBNA are any different to any other financial institution - they will get away with what they can but they don't want to lose your business either.


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## dannymur (1 Nov 2004)

*Re: MBNA Gold Rates ( dannymur )*

hi demoivre:

did as u advised, and "mirabile dictu" (_latin:wonderful to relate_), getting 10.9% from next statement.

thanks for the advise, hopefully Slim and others will follow suit.

btw, when i asked why they did'nt apply the new rate to existing customers, the chap said , 

*"well, you did'nt have any debit balances for some time"*

then he started laughin', i kid you not!!!:lol  :lol  :lol


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## neonitrix (3 Nov 2004)

*Re: MBNA Gold Rates ( dannymur )*

I have been an MBNA customer for quite some time now was origionally on a standart credit card at 14.9% APR

Then upgraded to gold card @ 12.9% APR and recently having heard that they were offering new customers 10.9% I rang and threatened to leave and they gave me a 10.9% APR aswell.

Also have an MBNA Pigsback Goldcard which is supposed to be 14.9% APR but I have managed to get it matched to my other card so down to 10.9%.  And also get 1 pigspoint for every euro retail I spend.

Hasnt worked out too bad.  Pay things like mortgage / petrol etc.. on pigsback mbna card and collect enough points for a meal or phone credit or something.


Neonitrix


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## rainyday (3 Nov 2004)

*Re: MBNA Gold Rates ( dannymur )*



> Pay things like *mortgage* / petrol etc.. on pigsback mbna card and collect enough points for a meal or phone credit or something.


How do you manage to pay your mortgage by credit card?


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## neonitrix (3 Nov 2004)

*Re: MBNA Gold Rates ( dannymur )*

we got our mortgage via county council arranged loan.  175,000 over 25 years.  We pay each month in the cash office of the council they accept direct debit / cash / cheque / credit card.

Neonitrix


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## rainyday (3 Nov 2004)

*Re: MBNA Gold Rates ( dannymur )*

I'm amazed that they would take a credit card. They are losing anything from 1.5% to 4% of your payment in fees to the credit card company.


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## Chrisb (3 Nov 2004)

*Re: MBNA Gold Rates (neonitrix)*

Hi neonitrix,
was going to get a pigsback gold card as I'm in the process of closing my accounts with existing bank.
Did you just have to ring them abnd ask for the 10.9% or was it more of a battle? Thanks for any feedback.


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## neonitrix (4 Nov 2004)

*Re: MBNA Gold Rates (neonitrix)*

I actually said that I would close my other gold card account if they didnt match the 10.9% APR - I had the pigsback credit card for about 5 months at the 14.9% Rate.

Am happy with the way things are going - and at least i get something in return for my spending pity about the government tax tho.


Neonitrix


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## ianolol (6 Nov 2004)

*AIB credit card*

I rang AIB today to transfer my credit card account from standard (approx 18%) to gold (approx 10%) card and also wanted to avail of the 0% interest rate on the transferred balance. I was told that this was not for old but new customers!. The girl didn't bat any eye lid when I told her I would be changing my credit card to another bank asap, which I definitely will be doing now. So much for hanging on to customers! 
Thinking of Bank of Ireland and have applied for the forms.


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## dannymur (6 Nov 2004)

*Re: why BoI???*

why go to BoI!!!

before you do, check out the CC Best Buys

BoI come a long way down, for new and existing customers.

My old mates in *MBNA* are actually hard to beat for Standard Rates, except for Fx charges........

:eek  2.65% :evil


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## ianolol (6 Nov 2004)

*AIB credit card*

Actually i asked for MBNA to send out the forms for their platnium card to which has an apr of 1.9%. So i'll see what BoI come up with as extra perks!.


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