UPDATED: Silver star for customer service (MBNA)

Member Name: sue.51

Product:	MBNA
Date:	24/03/01 (21152 review reads)
Rating:

Advantages: Regular low interest rate incentives, Good Customer Service

Disadvantages: Higher interest rate than other new breed cards

I have held two MBNA cards for quite a few years now (although recently closed one account) as there are more competitive cards on the market

Current charge - 18.9%APR for the silver card, 15.9%APR for the Platinum)

MBNA, unlike some of their competitors, supply both VISA and MASTERCARD, although in reality, there is little to chose between them, as both are universally accepted.

INCENTIVES
To combat their slightly high APR's, for existing customers, they often offer incentive rates for balance transfers and cash advances.

2000 - for a 9 month period, they offered a rate for balance transfers and cash advances of 4.9%.

2001 - for a 6 month period they are offering a special rate of 7.9% on balance transfers, and 15.9% on purchases.

Unfortunately, I don't have the time to work out how much money I would save. When I closed my account they asked me to come back for another incentive rate at the end of my introductory period with my new supplier.

CUSTOMER SERVICE
I have always found the standard of customer service to be exceptional, and I find the automated service a very useful tool. The company set you up with a user ID, through which you can ring through on a freephone number to check:

* Available Credit
* Outstanding Balance
* Payments received since last statement

You can also request an immediate credit limit increase by speaking to an operator, and in normal circumstances, a decision will be provided within an hour.


CREDIT LIMITS
They offer high credit limits, and tend to incease them without notice. When I took out a debt consolidation loan with them (at a very competitive rate), they reduced my credit limits accordingly, which I thought was quite responsible.

OTHER BENEFITS
In addition, they offer a wide range of services to card holders including discounts on certain memberships such as the RAC, Insurance, Travel &
holiday bookings, wine-club membership and competitive rates on loans to name a few.

NET ACCESS (www.mbna.co.uk)
MBNA have just launched a web-site, for existing customers registration is very easy, here you can find:
* your current balance,
* transactions made since your last statement,
* minimum payment & date due,
* any payments received,
* credit limit
* pending transactions
* the amount available to spend.

You cannot however, unlike some of the competitors, make payments or balance transfers on-line.

You can apply for cards on-line, but will not receive an immediate decision, and will have to wait for the response in the post.

LATE PAYMENTS
The charge for missed payments is £18, fairly typical in the marketplace, although there are some that are higher.

31.05.01
The minimum payment has recently changed from 2% to 2.5%, since the development of a new relationship with the Co-operative bank (previously with RBS)

PAYMENT HOLIDAYS
MBNA offer up to two payment holidays a year, during which interest continues to accumulate on outstanding balances; this can however be quite useful after Christmas and other holiday times. They continue to offer the payment holiday every month until you take is, putting you in control.

USING ABROAD
The card is one of the cheapest I have used abroad, as exchange rates tend to be competitive and add-on charges are low.

SUMMARY
In summary, not a bad company to deal with, although a more regular competitive APR would have been more likely to prevent me transferring one card to another account.

Summary: