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MBNA - no more credit cards offer

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  • 28-06-2012 10:03am
    #1
    Pablo1802
    Registered Users Posts: 216 ✭✭


    I can see that there are no offers for credit card on the MBNA.ie
    Are they closing the business on the irish market shortly?


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    #2
    mike65
    Closed Accounts Posts: 88,978 ✭✭✭✭mike65


    Hurrah! That's a 10% drop in junk mail!


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    #3
    BuffyBot
    Registered Users Posts: 24,924 ✭✭✭✭BuffyBot


    I'd imagine they've closed for new business while the sale process by Bank of America to it's new owners completes


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    #4
    Vicxas
    Registered Users Posts: 15,359 ✭✭✭✭Vicxas


    Whats the situation with this? I have an MBNA CC and with the withdrawl of their business whats to happen to people who still have debt on their CC?


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    #5
    KoolKid
    Moderators, Home & Garden Moderators, Technology & Internet Moderators Posts: 24,789 Mod ✭✭✭✭KoolKid


    You will still owe it. Whether they offer to transfer it to a low interest personal loan,like Halifax, remains to be seen. I got rid of mine last month,thank God..


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    #6
    BuffyBot
    Registered Users Posts: 24,924 ✭✭✭✭BuffyBot


    They haven't withdrawn their business. For existing customers, everything continues as normal.


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    #7
    Pablo1802
    Registered Users Posts: 216 ✭✭Pablo1802


    BuffyBot wrote: »
    They haven't withdrawn their business. For existing customers, everything continues as normal.

    sure,the question might be for how long?


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    #8
    Gurgle
    Closed Accounts Posts: 5,064 ✭✭✭Gurgle


    BuffyBot wrote: »
    They haven't withdrawn their business. For existing customers, everything continues as normal.

    Not quite, I got a letter from them last month to let me know they've increased my interest rate from 14.9% to 18.9%.


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    #9
    christmas2012
    Banned (with Prison Access) Posts: 2,827 ✭✭✭christmas2012


    they usually send me cheques in the post - bad idea to get started on any extra offers they have you can get caught up in it..


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    #10
    Pablo1802
    Registered Users Posts: 216 ✭✭Pablo1802


    Gurgle wrote: »
    Not quite, I got a letter from them last month to let me know they've increased my interest rate from 14.9% to 18.9%.

    so that's interesting, cause I got 7.9% offer for any money and balance transfers for 6 months ?


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    #11
    Pablo1802
    Registered Users Posts: 216 ✭✭Pablo1802


    "Hello,Thank you for your secure message.We can confirm that at the present we are not offering any new applications. It is very much business as usual for us and for our customers – we will keep serving you to the best of ability. Our customers are our business and we will continue to provide you with our best services.Many thanks.MBNA."


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    #12
    BuffyBot
    Registered Users Posts: 24,924 ✭✭✭✭BuffyBot


    sure,the question might be for how long?

    Well, if the intention to wind it down was there, Bank of America could have done that themselves. They've sold it to the same group which had previously purchased (and continue to operate) MBNA in Spain
    Gurgle wrote: »
    Not quite, I got a letter from them last month to let me know they've increased my interest rate from 14.9% to 18.9%.

    That's pretty normal, they're a credit card company ;)


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    #13
    Greenmachine
    Registered Users Posts: 5,063 ✭✭✭Greenmachine


    Got the same letter. the swines :mad:. luckily I pay my balance every month. If they pull out will not get another card.


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    #14
    Gurgle
    Closed Accounts Posts: 5,064 ✭✭✭Gurgle


    BuffyBot wrote: »
    That's pretty normal, they're a credit card company ;)
    I was a little surprised, I've been with them for about 12 years and was planning to stay with them because they had the best interest rate.


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    #15
    Frank Grimes
    Registered Users Posts: 5,330 ✭✭✭Frank Grimes


    BuffyBot wrote: »
    Well, if the intention to wind it down was there, Bank of America could have done that themselves. They've sold it to the same group which had previously purchased (and continue to operate) MBNA in Spain
    Yeah the news reports from a couple of months ago (just re-checked to be sure) were saying it was being sold as a going concern and all 250 jobs were safe etc. I'd imagine they're just not taking on new customers until everything settles down as you said.

    I can't imagine it will happen either, but I certainly hope they're not pulling out as I'll loose my Celtic-Tiger era credit limit and I can't see any other provider giving me something similar now :pac:. I've been using them for years and I've never had a problem with them (bar the overcharging thing); always find them very helpful and easy to deal with the odd time I've had to do so, even though that means listening to the payment protection spiel - but I'm sure the agents have little choice in that matter.


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    #16
    Greenmachine
    Registered Users Posts: 5,063 ✭✭✭Greenmachine


    Gurgle wrote: »
    I was a little surprised, I've been with them for about 12 years and was planning to stay with them because they had the best interest rate.

    Same as go my MBNA card in 2000.


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    #17
    recoltes
    Registered Users Posts: 5 ✭recoltes


    Was making a pricey purchase within the last three months so gave them a call so that the transaction would be expected.

    The woman I was talking to said that would be no problem, that she would make a note on the account so the transaction would go through on the day.

    She was very helpful and suggested that what I should consider instead was taking it out as an MBNA loan.

    She said it would be interest free for the first 6 months and quoted a reasonable rate thereafter.

    I thanked her for the information and said I would have a think about it.

    I didn't make the purchase when planned and a month later when I was ready to proceed I called back.

    I was speaking to a different woman and when I said I'd like to go with the option I had discussed with her colleague she more or less told me that the conversation I'd had was impossible - this was not something they do or have ever done etc. I said that I had discussed it at length with her colleague who was encouraging me to avail of the offer.

    She said no it was impossible that she'd been working there years. I asked if there was something else I could have been offered like it and she couldn't get me off the phone quick enough.

    I forgot about all this until today when I called up to arrange a balance transfer. I have a clear balance on my MBNA - using it for 10 years with direct debit set up to take full amount owing - while my AIB credit card is charging a lot of interest.

    The guy I was talking to said they had nothing near 0% for 6 months on balance transfers and they never had. That I must be thinking of somewhere else - that the lowest rate they offer is 7.9%.

    At this point I remembered my previous MBNA conversation had gone the very same way so I looked up 'MBNA credit card' to see if there was a low interest offer or if I was making up my own products every time I called.

    Sure enough Irish Times 15th May 2012 - "MBNA currently offers 0 per cent for 10 months if you switch to its Platinum card, or 1.9 per cent for six months on its standard card."

    So I called back and was talking to another guy and said I'd like to switch my account over to Platinum - sounding like he'd been pushed into a corner he said that they weren't doing them anymore, that the best they have now is 7.9%.

    I asked him since when and he said a month. I got the impression that he too would have denied the existence ever of any alternative to the current 7.9% offer if I hadn't mentioned the platinum card.

    Now I've no problem if an offer has finished - you've missed the boat... move on.

    But this bunker mentality of denying conversations ever happened or offers ever existed is misleading and unprofessional.

    'Sorry we don't do that anymore' would have been fine.

    They play the standard 'this conversation is being recorded etc..' message when you call them up.

    I suggest they play back some of those recordings to get their stories straight.

    Savvy customers should begin their conversations with MBNA by informing them that they too are recording the conversation.


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