MBNA criticised over credit cash

Credit card firm MBNA has recently came under attack for encouraging its borrowers to withdraw more cash on their credit cards so they can splash out over the Christmas period.

MBNA the world’s second largest credit card provider has been sending letters to what it describes as its ‘best’ customers, announcing it has raised their credit limits

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Avoid the credit card blacklist

UK Credit Card companies are to start sharing personal data in the spring that will help them weed out prudent and therefore ‘unprofitable’ customers for the first time.

Banks have been talking to industry bodies for several months about new initiative that will enable them to identify consumers who clear their balances in full every month, or who constantly switch to 0 per cent deals. Such customers make the banks no money because they do not pay punitive interest charges of up to 28%. Read more