AvantCard increasing interest rate - can they do this?

Greenmachine

Tilikum wrote: »

Mine has been 24.9% months & months. I rang up complaining and all she said was....there's higher interest rates than yours.

Hate this shower they are even worse than the old crowd.

branners69

I am in the same boat, all rates increased to 24.9%!

I wonder if they are trying to encourage people to settle with them? I have heard of people settling with them by paying 40% of their outstanding amount!

somesoldiers

oh, please tell us. Is it just for those in over there heads?

Muahahaha

Just got that letter and am being hiked from 11 to 21%, I'm going to pay off the balance and move.

Does anyone know if you can pay a MBNA bill manually using Visa Debit ? By that I mean not via online banking transfer, by ringing up and giving the agent (or robot) your debit card number yourself ?

Davy

Muahahaha wrote: »

Just got that letter and am being hiked from 11 to 21%, I'm going to pay off the balance and move.

Does anyone know if you can pay a MBNA bill manually using Visa Debit ? By that I mean not via online banking transfer, by ringing up and giving the agent (or robot) your debit card number yourself ?

I would say they will take the card payment directly over the phone but prefer to do it online.

Just wondering why would you want to do it over the phone and not on the avantcard website directly?

restive

I applied to Tesco Credit Card and got €1,900 transferred at 0% for six months.

physioman

Muahahaha wrote: »

Just got that letter and am being hiked from 11 to 21%, I'm going to pay off the balance and move.

Does anyone know if you can pay a MBNA bill manually using Visa Debit ? By that I mean not via online banking transfer, by ringing up and giving the agent (or robot) your debit card number yourself ?

i think you can pay in the post office. i moved months ago. worst company to deal with.

Colostomy Bag

restive wrote: »

I applied to Tesco Credit Card and got €1,900 transferred at 0% for six months.

Sounds good - but what interest rate are they offering you after the initial 6 months?

somesoldiers

anyone know of any higher balances transfers available? need to off load 5K before the hike

Colostomy Bag

somesoldiers wrote: »

anyone know of any higher balances transfers available? need to off load 5K before the hike

The higher the balance the better in their eyes I would imagine - they make more money after the 6 months. I doubt you'll have any problem there - unless you can't get a credit rating that is - it will depend on your payment history I guess...

branners69

restive wrote: »

I applied to Tesco Credit Card and got €1,900 transferred at 0% for six months.

Remember €1,900 has be cleared off your card within the 6 months or you will pay all interest owed at whatever rate you have signed up for!

Colostomy Bag wrote: »

T...they make more money after the 6 months...

They will make money from day one (back dated) unless you clear the 5k in the 6 months!

mullingar

^^^^^^

Eh??? Sorry you are wrong there.

Interest free is interest free, but you still have a minimum monthly payment off the principal amount. Once the 6 months of the zero interest passes only then are you liable to start paying the due interest of that month and all future months. I've never heard of paying 6 months of back-interest in 1 month.

SPM1959

There is really no point complaining to customer service staff or mid managers; they will no control over your interest rates and unable to make any reductions.
Best thing to do is pay it off or move balance - easier said than done for a lot of people though.

Pablo1802

mullingar wrote: »

^^^^^^

Eh??? Sorry you are wrong there.

Interest free is interest free, but you still have a minimum monthly payment off the principal amount. Once the 6 months of the zero interest passes only then are you liable to start paying the due interest of that month and all future months. I've never heard of paying 6 months of back-interest in 1 month.

MBNA in Ireland used to have some 0% offer for 6 or 9 months under the above conditions

SPM1959

It's not back dated.

dobsdave

branners69 wrote: »

Remember €1,900 has be cleared off your card within the 6 months or you will pay all interest owed at whatever rate you have signed up for!



They will make money from day one (back dated) unless you clear the 5k in the 6 months!

Incorrect.
You will pay interest on what you owe after the 0% finishes.
As long as you keep minimum payments up.
Its not backdated.

branners69

mullingar wrote: »

^^^^^^

Eh??? Sorry you are wrong there.

Interest free is interest free, but you still have a minimum monthly payment off the principal amount. Once the 6 months of the zero interest passes only then are you liable to start paying the due interest of that month and all future months. I've never heard of paying 6 months of back-interest in 1 month.

dobsdave wrote: »

Incorrect.
You will pay interest on what you owe after the 0% finishes.
As long as you keep minimum payments up.
Its not backdated.

Apologies if this is not the way anymore, but they used to screw you after 6 months if you didnt manage to clear your transfer balance!

Sir Chops

mullingar wrote: »

I rang them earlier saying that I want to put on €5-6k on the card towards buying a car (complete BS;)) but on the 9.9% rate and that there was no way that I would put that money onto the card @ 17.9% and that I would be better off with a bank loan or a competitors cheaper/interest free option.

I went on to say that I was not happy with the rate near doubling and also asked why are they willing to lose my business. The "agent" said that there was no way she could change the rate so I asked it to be escalated.

A so called "Manager" called me back and I asked the same question and she also could do nothing about the rate. I then asked her then what is the point of me keeping open my account if you can do nothing for me as there are many cards still available to me at around 10%* as you can see that I have an excellent credit history with yourselves.....Silence.... I asked it to be escalated again, so lets see if a proper manager calls back.

*Chancing my arm

They're not idiots. Who buys are car on a credit card ???

somesoldiers

So just got refused by a second credit card crowd today, am looking to move a balance of 4.5K from Avant. It was 7.5K at the start of the year but I have cleared it down to this and plan on continuing to do so until zero. I just want to get away from Avant’s 10% rate hike preferably to a zero balance for 6 months. The problem seems to be that they are stacking my entire mortgage and loans against only my earnings, they will not include my wife’s earnings.
She earns the same as me ( truth be told it was her that put most the 7.5K there in the first place) and after two days of them telling me I needed utility bills with her name on, marriage cert where her maiden name was on them and two copies of her Id to add her as a second card holder on my account, they say I have been refused. Why bother going looking for all the ids when they only assess my income?

restive

somesoldiers wrote: »

So just got refused by a second credit card crowd today, am looking to move a balance of 4.5K from Avant. It was 7.5K at the start of the year but I have cleared it down to this and plan on continuing to do so until zero. I just want to get away from Avant’s 10% rate hike preferably to a zero balance for 6 months. The problem seems to be that they are stacking my entire mortgage and loans against only my earnings, they will not include my wife’s earnings.
She earns the same as me ( truth be told it was her that put most the 7.5K there in the first place) and after two days of them telling me I needed utility bills with her name on, marriage cert where her maiden name was on them and two copies of her Id to add her as a second card holder on my account, they say I have been refused. Why bother going looking for all the ids when they only assess my income?

Try Tesco. Apply for a credit limit of 2K only. and transfer 1.9K to it. See if you can get a 2K credit card from another credit card provider and transfer anther 2K to them. Do not try to transfer the full 4.5K to the one credit card provider.
I am in the same boat and have been successful with tesco and am now trying another crowd.

somesoldiers

Humm, doesn’t the transfer have to clear the existing card completely then? What’s to stop me just building back up the original card? I confess I haven’t fully read the ts and cs but would assume this would be the case. Though my earlier assumptions that they would assess two peoples debts as just that proved to be wrong! Will check out the split, thanks

restive

somesoldiers wrote: »

Humm, doesn’t the transfer have to clear the existing card completely then? What’s to stop me just building back up the original card? I confess I haven’t fully read the ts and cs but would assume this would be the case. Though my earlier assumptions that they would assess two peoples debts as just that proved to be wrong! Will check out the split, thanks

I have MBNA card with high balance. I applied to AIB card to transfer all of balance and got refused.
I applied to tesco for 2k and got it.

"What's to stop you building up the original balance again?" Not trying to be smart but is that really your problem?:rolleyes: Let the banks worry about it!;)

somesoldiers

restive wrote: »

I have MBNA card with high balance. I applied to AIB card to transfer all of balance and got refused.
I applied to tesco for 2k and got it.

"What's to stop you building up the original balance again?" Not trying to be smart but is that really your problem?:rolleyes: Let the banks worry about it!;)

Aye true, I kinda meant from the point of view if the "underwriters", bean-counters, computer says no heads. If they are so hung up about people transferring 50c into a paddy power a/c why not insist on keeping another balance down. Suppose how will they know really- either way, sod the lot of em!

Johnny_Fontane

got a letter yesterday saying my rate was going from 18.9% to 22.9% :eek::eek:

I remember I had a rate of like 8% originally. Have always had my credit cards with them (since 1998).

What a bunch of c**ks!

somesoldiers

I'm sure it comes with the advice that you can just settle your bill if you are not happy, like mine did.

I thankfully closed my a/c late last year, they offered me a reduced rate to stay with them from 23% down to 19%. I told them to stick it. Have a card now from AIB visa click @ 14%. It is purely for emergencies...where have I heard that before?

bryanL33

Try to close the account and they might give you a better deal on the interest rate.

JTL

MBNA used to do that all the time. Worth a try but from what I heard Avantcard don't operate the same policy.