Mbna - A Cautionary Tale

[sunny-dave]

I've had three MBNA credit cards for ages - not from choice, they just gobbled up various other credit card businesses along the way.

I don't use the cards much (and always pay the balance off each month) - so far, so ordinary.

Last week I was 'invited' by Amazon to apply for their MBNA branded credit card - with associated cashbacks on purchases. Again so far, so ordinary.

Yesterday I got an email saying "Amazon Card approved, it'll be with you soon". So that's good then ...

... actually no it's blanking not.


I logged in to see if it had been automatically added to my MBNA online service - not only was it not there (probably needs me to do something) but I saw that, of my existing three cards, one had been totally closed and the other two had had their credit limits slashed from the top side of £10k each, to an effectively useless £1k.

No letters, no phonecalls, just changed without any notice or discussion.

It's not the principle of a bank reviewing your total credit limit across several cards (indeed they are obliged to do so) it's just that doing it without any notice or consultation seems utterly wrong - and could have left me in a big hole if I was depending on my existing cards (the Amazon Card won't be with me for at least a week or two).

Fortunately I have a couple of cards with other banks, but others might not be so lucky.

[chrissa1]

What is the credit limit on the new card, sunny?
When I first read your post, I thought the limit on the other cards had been slashed to £1 and not £1k.

[Peter Pedant]

If you dont use it,
you lose it

I thought everyone knew that -

I have one and use it as a charge card wh is the cheapest way-
I thought everyone knew that as well !

[jno]

how on earth could they not tell you they've cut the credit limit? I get mountains of bumf fom them every time they cut their toenails. Have they got your address wrong on their files perhaps?

I have a spread of cards (four) all from different banks and use the secondary ones at least a couple of times a year, just to keep them live.

[sunny-dave]

Credit limit on the Amazon Card seems to be going to be about £5k - which is fine ... when it eventually arrives.

jno - I asked the same question - apparently they will be letting me know by letter ... eventually.

I do get some stick from friends about my 'portfolio' of cards from different banks - suddenly it seems very sensible.