MBNA cave in on charges

About time all banks followed suit for all credit cards and bank accounts.

Daylight robbery that simply make them huge profits. Even 12 is not proportionate to the actual cost to the banks but at least its a start.

In message , linkuk writes

But the cash advance & transfer charges have gone up. As always, the honest bloke pays for the reckless.

It looks like most are.

That'll be what they want you to think. More like "damned OFT have stopped us ripping off one lot of suckers with disproportionate charges, better find another lot of suckers to rip off to maintain our profits".

I agree, what they give up reluctantly with one hand will be taken by another hand. Goverment will never reign them in. (being cynical i reckon those in power will want a lucrative directorship later!)

... or even 'rein' them in. :-)

snipped-for-privacy@isbd.co.uk wrote: ...

Nah, right first time, I reckon. :-) :-)

Has anyone ever gone over their credit limit on their card and incurred charges.

The weird thing is, the bank will authorise real time transactions that take you over your limit. It's almost like they want to make you pay their bank charges.

Thats exactly what they want. They also will take thier charge immediately making matters worse and often incurr a second charge.

Working lunch featured a student who went over by just a few pounds and ended up with over a 100 in charges!

Egg are at it too. This list makes interesting reading. Two new ripoffs and one (partial) climbdown!

Condition 4.5 has been added to provide that where interest is payable, a minimum amount of 50p will be charged, even where the interest amount is calculated to be less than 50p.

Condition 7.1 has been changed to show a fee of £16 (reduced from £20 ) payable when you exceed your Credit Limit, do not keep up payments or have a payment returned or recalled.

Condition 7.2 has been added to provide for the payment of a fee of 2.5%

of the amount of each gambling transaction (as defined in 8.1) with a minimum fee of £2.

Not all banks do this. Goldfish once refused the card when it would have

caused the credit limit to be exceeded.

Not sure which is worse, being ripped off or left stranded at the head of a checkout queue with a rejected card. :-(

In message , BrianW writes

I think what actually happens is that the CCo calculate a maximum limit for each cardholder which is likely to be more than the limit you have advised to you. The rejection occurs if you exceed their 'maximum' limit for you.

"John Boyle" wrote

So, again, the honest Joe is worse off because he follows the T&C and actually keeps to the lower (quoted) limit...