I've just received a letter from MBNA saying that they are changing my card rates to a monthly rate of 1.8053%* on card purchases, balance transfers and cash transactions.
*This will not affect any promotional rates on your account.
If I'm not mistaken, which I quite possibly am, that's a whopping APR of 21.6636%
It seems I am paying to refinance Bank of America's dodgy loans. Yay!
1) Why don't they tell me my existing rate?
2) Why are they quoting a monthly rate without any mention of APR.
Saying 1.8053% is a tad misleading to say the least.
I will be clearing my credit card off over the next while and dumping it.
Really sick of being at the beck and call of crooked banks.
*This will not affect any promotional rates on your account.
If I'm not mistaken, which I quite possibly am, that's a whopping APR of 21.6636%
It seems I am paying to refinance Bank of America's dodgy loans. Yay!
1) Why don't they tell me my existing rate?
2) Why are they quoting a monthly rate without any mention of APR.
Saying 1.8053% is a tad misleading to say the least.
I will be clearing my credit card off over the next while and dumping it.
Really sick of being at the beck and call of crooked banks.