If you have ever had a credit card with MBNA, then there is a substantial chance that you may have been mis-sold PPI.
One of the UK’s biggest credit card providers, they still receive a massive amount of complaints each year regarding potentially mis-sold PPI. In the second half of 2016, official figures from the FCA, show that 3,772 cases were passed to FOS, whilst the total number of claims submitted to MBNA for mis-sold PPI alone in the same period was in excess of 72,000. As a comparison, in the first 6 months of 2013, that figure was 237,000, which was only marginally surpassed by Lloyds TSB, one of the country’s biggest banks at that time.
As a brand, MBNA has received significant criticism regarding the aggressive way that historically, they addressed debt issues with customers, including increasing interest rates on accounts when customers were already struggling to meet their payments. Their calculation process for working out PPI refunds has also been subject to considerable bad press, with customers apparently receiving much less interest redress when compared to other credit card providers.
MBNA as well as issuing their own credit cards, branded for some of Britain’s biggest football clubs, such as Manchester United, Liverpool and Celtic, they were also behind the AA credit card offers. In 2002 they bought Alliance & Leicester’s credit card business and in 2013, they sold their Virgin brand to Virgin Money in a deal that earned them a cool £1billion. This ended a partnership that had been in place as far back as 2002. Finally, in 2016 Lloyds Banking Group purchased MBNA from the Bank of America in a huge £1.9billion deal.
At Beat the Banks, we have an excellent success record against MBNA when it comes to PPI complaints. Unlike other PPI companies, we look to recover your full lender file, not just substantially abbreviated account information. This reveals exactly how, where and when your card was sold. Vital if you want to make an accurate complaint. Additionally, all our claims experts are former bank lending managers, who know the industry inside out.
In excess of 72,000 claims were submitted for mis-sold ppi against MBNA in the last 6 months of 2016
Time is running out to make a claim against MBNA for mis-sold PPI, the time to act is now.