Credit Card - Incorrect interest rate for 3+ years

[AlanD]

Hi,
Please move if this is the wrong forum.

I'm wondering would you be able to tell me what my rights are with this situation.

I have a credit card account with MBNA for quite a number of years. First I had an MBNA Gold card and after some time I decided to upgrade to an MBNA Platinum card to make use of the better and cheaper interest rate it gave me. I spoke with MBNA Customer Service about upgrading and was told that the interest rate was about 13.9% or so, compared to the 17.9% rates I was paying at the time. I was sold the card on the understanding that the rate would be changed when I upgraded the card.

I never paid much heed to it until now. So I never checked the interest rate because it was understood that the card and rate were tightly coupled. Since Halifax have come in to the market with a sub 10% interest rate card, I decided to check my MBNA rate and they told me it was 17.9%. So I asked to speak to the relevant person for rates. She said all I had was a standard MBNA card and that's the rate I was on. I told her I had a Platinum card and she disagreed. Yet, I was holding a silver card that said Platinum on it in my hand and my online account details said Platinum Mastercard.

So I feel I have been mis-sold the Platinum card and for the last 3/4 years or more I have been overcharged on interest due. MBNA say they have no record of the rate changing or being requested to change.

From my perspective, why would I reapply for a credit card that apparantly is an upgrade just to get a silver looking card instead of a gold card. The understanding at the time was that the card and rate were tightly coupled.

Can I get the money I paid in overcharging back?

Incidentally, a good friend of mine did the exact same upgrade at the same time and his rate is currently 13.9%.

Please advise.

Kind Regards,

Alan.

 

[ClubMan]

What do the terms & conditions of the actual agreements that you signed up say? Was any of the allegedly misleading information put in writing to corroborate your story and allegations? Have you complained to the company? If you don't get satisfaction you can try [broken link removed].

 

[AlanD]

What do the terms & conditions of the actual agreements that you signed up say? Was any of the allegedly misleading information put in writing to corroborate your story and allegations? Have you complained to the company? If you don't get satisfaction you can try [broken link removed].

I have no idea what the terms and conditions say. It's years ago since I applied for it and that documentation is long lost I'd say, which obviously doesn't help me at all.

Yes I complained to the company but got nowhere. She just said that upgrading to a platinum card doesn't mean you get your rate changed, yet that is what the MBNA rep told me when I applied in the first place.

MBNA say that have no record of any call like that, but I know I talked to them more than once about it and they should have a record of those calls.

Financial Ombudsman may help.

 

[ClubMan]

You need a "final response" letter on the complaint from MBNA before contacting the FSO. Otherwise they will just tell you to get one.

 

[AlanD]

You need a "final response" letter on the complaint from MBNA before contacting the FSO. Otherwise they will just tell you to get one.

ok, thanks for telling me that. What I should do then is formally complain to MBNA and go down that route. It's probably not worth that much to me, but because I feel I've been duped by them I don't want them to get away lightly with it.

Thanks.