Credit Card Revoked - Fees/Interest/Credit Record etc ??

[Ron J]

Hi all.

I have an MBNA CC and missed 4 monthly payments in 2010. Rang them and following submission of a budget sheet They indicated that as my outgoings were slightly in excess of my income that they couldn't agree a payment plan or stop interest or fees and that I would have to make monthly payments of between 200 & 250 per month to keep the account live until I was in a position to clear the balance (9k). Have been making the payments since last Oct and was of the belief that the CC was live and will be in a position to clear it in Jan 2012.

Got a p/out from the Credit Bureau this week to discover that the CC is marked as revoked by MBNA.

Just want to ask - if they have marked it as revoked, are they entitled to make me pay the minimum payment and interest and fees ?? Possibly a silly Q as I'm sure the terms & cond's allow this but I'm not happy that they can mark the card as revoked on my credit history and not inform me of this.

Any advice welcome.

 

[KoolKid]

Not sure to be honest, but I remember,a bank manager friend of mine telling me to be very careful with MBNA. He said they are the quickest to send to ICB.

 

[Ron J]

Reckon you're spot on. It looks like they reported to ICB immediately after first paymewnt was missed.

Should have mentioned this in initial posting - spoke to my account manager at MBNA last week and again queried him about stopping interest and fees. Said that as income was still lower than expenditure etc etc that it couldn't be done. Later in the conversation he stated that if I was able to make the monthly payments as requested that they could stop the interest and fees. I immediately queried him on this as I have made the payments of over 200 euros each month without fail and I restated to him that I was initally told it was was not possible to stop interest etc. He tried to change the subject immediately and when I persisted he said it was not possible. I'm not happy at all and I reckon they could possibly do a lot more towards stopping interest and fees. I'm not looking to totally default - just need the time to get to DEvc/Jan when I will have the funds to pay off the balance.

Has anyone had a similar experience with MBNA ??