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Old 31st December 2008, 12:43 PM
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Default Comment on Interest Rate Hikes for MBNA Customers by Philip

Hi,We have just received our statement with a £90 interest charge. This was incured as we were 1 day late paying off our balance of £1600, and the interest charge, we were told when we phoned, was backdated to the previous statement date, and then added on a daily basis on the outstanding amount, increasing with all new transactions from the date of that transaction.We have been told that even once we pay off the full amount of the statement, we will get an interest only balance next month, (incured from the statement date to when the payment hits the account) then, once that is paid off we will be clear. It is not a good account and we will not be using it again.We have looked on the MBNA website at the terms and conditions and cannot find where it states that the interest will be charged in that way. Or if it does say that it is very cryptic!Can anybody suggest how we can resolve this problem as the interest is unacceptable in the way it operates? Once we pay it all off, is there any way we can claim it back as being unfair?

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