MBNA Mis selling

Re: MBNA sales

lol@hindsight

was thinking of u this morning, manufan when i heard he scored a hattrick....is ur real name mystic meg lol

mbna

Couldnt believe he hadnt scored a hat trick before - I should have been on the paddy power site yesterday instead of this one!

For what its worth - I think he'll score two on sunday

just dont know what this has to do with MBNA - Glad thats all forgotten!

Speaking of Bumf !

I got MBNA bumf in the post yesterday. Its a push for the Ryanair MBNA card so I think I will give it a miss seeing as Ryanairs customer service is legendary in its own lifetime.

My impression was that they were clear about the introductory 6 months which applies to the transfer amount and the new purchases on the card which would attratc 14.9% on the Gold Card .

I certainly would not accuse MBNA/Ryanair of misselling based on what I read .

Thatnks for the tip on the electoral register by the way. I will opt out now.

mbna

WoDagh
Yes your right but it doesnt tell you you cant use the card for 6 months to avail of the balance transfer offer
thats what the complaint is.
Where exactly does it spell that out - I got a flyer in todays Irish Times and I would say that Manufan has got a very strong case here.
Reading it you would expect to get balance transfers at 1.9% and purchases at 13.9%.
What the truth is that the rate of 1.9% only applies if you dont use the card for prchases for 6 months - unbelievable case of mis-selling
Who wants a credit card you cant use for 6 months?

It explained the ringfencing between transfer and new rates

In Fairly Plain English.

Are you saying that if:

1. I transfer €1000 onto my Ryanair MBNA, thereby giving myself €1000 at 1.9% APR for 6 months.

And

2. I buy a new coat for €100 on this at 14.9% APR as they said for new purchases

Therefore

3. I lose my 1.9% Rate and all of the €1100 now attracts 14.9%

That is mega dishonest all right , must read the bumf again closely.

However

They did say that payments would be 'lowest rate first' so .

1. I transfer €1000
2. I spend €100
3. I make payment of €100

That comes off the 1.9% balance and I pay full whack for the €100 I spend. If I pay €200 it comes of the 1.9% balance as well. I will not start to pay off the new purchases until the transferred balance is totally cleared off . Again I thought that was fairly clearly stated .

It also implied that they account separately for the 2 balances and that you do not lose the lower rate by using the card.

good news from MBNA

Just got some good news - MBNA have agreed to repay me my €62 interest on the basis that there was a misunderstanding about the offer.

I must clear my total balance going forward to avoid the high interest charge in future so I will do that immediately

MBNA

wodagh

look at the offer included with todays irish times:

1.9% on balance transfers
13.9% on purchases


OK in practice this is what happens

pay off old credit card €1000 balance transfer
spend €1000 on purchases in the month
pay MBNA €1000

you have an outstanding balance of €1000


you will be charged 13.9% on the balance of €1000

There is only one sure way of benefitting from this 1.9% offer and that is not to use your card for 6 months - where does it say that in the brochure???