yekim1967 Report post Posted February 11, 2011 I heard MBNA is increasing there minimum payments and ceasing to offer new loans. Also I got a huge shock when I paid my loan early, they charged me a penalty and asked me to pay the monthly amount again. I paid Jan 25, instead of Feb 7th, now 4 days after the due date, they call me and say my Feb payment is due. I told them I paid it Jan 25 th, and they are applying that as a lump sum payment. Now say the payment must be made in Feb, and now I am late, so late charge... Is this realistic??? Quote Share this post Link to post Share on other sites
shermanator Report post Posted February 11, 2011 I heard MBNA is increasing there minimum payments and ceasing to offer new loans. Also I got a huge shock when I paid my loan early, they charged me a penalty and asked me to pay the monthly amount again. I paid Jan 25, instead of Feb 7th, now 4 days after the due date, they call me and say my Feb payment is due. I told them I paid it Jan 25 th, and they are applying that as a lump sum payment. Now say the payment must be made in Feb, and now I am late, so late charge... Is this realistic??? Looks like their funding has dried up - perfect prelude to Credit Crunch MK2. As regards your situation. If you pay off a loan early, you get charged only a very little amount, it's done by some formula but can't remember it. If they try it on, tell them to naff off as any Court in the land will back you as they have their money. Quote Share this post Link to post Share on other sites
Sledgehead Report post Posted February 11, 2011 my cc provider lowered my rate today by 2%. Would be nice, other than the fact that I dd the thing in full ... Quote Share this post Link to post Share on other sites
Harry Monk Report post Posted February 11, 2011 I heard MBNA is increasing there minimum payments and ceasing to offer new loans. Also I got a huge shock when I paid my loan early, they charged me a penalty and asked me to pay the monthly amount again. I paid Jan 25, instead of Feb 7th, now 4 days after the due date, they call me and say my Feb payment is due. I told them I paid it Jan 25 th, and they are applying that as a lump sum payment. Now say the payment must be made in Feb, and now I am late, so late charge... Is this realistic??? I have had this happen to me, I made a payment early because I was going away for a month and knew I would probably not have internet access to access my account and later on they clobbered me for a missed payment fee because I had paid too early. Quote Share this post Link to post Share on other sites
longtomsilver Report post Posted February 11, 2011 (edited) I heard MBNA is increasing there minimum payments and ceasing to offer new loans. Also I got a huge shock when I paid my loan early, they charged me a penalty and asked me to pay the monthly amount again. I paid Jan 25, instead of Feb 7th, now 4 days after the due date, they call me and say my Feb payment is due. I told them I paid it Jan 25 th, and they are applying that as a lump sum payment. Now say the payment must be made in Feb, and now I am late, so late charge... Is this realistic??? I once bought a computer from PC World and they wouldnt throw in the 'free' printer without taking the year long 0% finance. I cleared the balance as soon as I got home and then I got harassed for missing the first monthly payment and the system even sent out a letter warning they'll involve bailiffs if I didn't pay my non-existent debt. A friend at the time bought the same machine the only difference is he paid the minimum £49 monthly payment on the £2k machine... twelve months later they charged him almost £1k back interest as he hadn't cleared the balance and there was no request/letter for him to do so, jaw dropping for him. They work on the assumption the sheepie are well sheep really!!. As a side note my machine was superseded a week later with a PII 433Mhz up from my 300mhz machine, a beast Edited February 11, 2011 by tomposh101 Quote Share this post Link to post Share on other sites
