Comments on: MBNA Charging For Positive Balances http://www.bargaineering.com/articles/mbna-charging-for-positive-balances.html personal finance blog with anecdotes, advice and commentary. Sun, 12 Feb 2012 22:21:00 +0000 hourly 1 By: plonkee http://www.bargaineering.com/articles/mbna-charging-for-positive-balances.html/comment-page-1#comment-74339 plonkee Thu, 08 Mar 2007 12:25:12 +0000 http://www.bargaineering.com/articles/mbna-charging-for-positive-balances.html#comment-74339 In general, the Consumer Credit Act of 1974 protects against fraudulent use of a credit card (defined as a type of credit-token), apart from a liability of up to £50 before you report it to them. MBNA's terms and conditions state: THEFT, LOSS OR MISUSE OF CREDIT CARD If your credit card is lost, stolen or misused by someone without your permission, you may have to pay up to £0 of any loss to us. If it is misused with your permission you will probably be liable for ALL losses. You will not be liable to us for losses which take place after you have told us about the theft, etc. That seems to imply that it doesn't matter whether you had a balance on the card or not. I bet MBNA would have a hard time arguing in court that you aren't covered for fraud protection if you have a positive balance. Maybe MBNA do need to get a new spokesperson. In general, the Consumer Credit Act of 1974 protects against fraudulent use of a credit card (defined as a type of credit-token), apart from a liability of up to £50 before you report it to them.

MBNA’s terms and conditions state:
THEFT, LOSS OR MISUSE OF CREDIT CARD
If your credit card is lost, stolen or misused by someone without your permission, you may have to pay up to £0 of any loss to us. If it is misused with your permission you will probably be liable for ALL losses. You will not be liable to us for losses which take place after you have told us about the theft, etc.

That seems to imply that it doesn’t matter whether you had a balance on the card or not. I bet MBNA would have a hard time arguing in court that you aren’t covered for fraud protection if you have a positive balance.

Maybe MBNA do need to get a new spokesperson.

]]> By: Foobarista http://www.bargaineering.com/articles/mbna-charging-for-positive-balances.html/comment-page-1#comment-74256 Foobarista Wed, 07 Mar 2007 22:09:28 +0000 http://www.bargaineering.com/articles/mbna-charging-for-positive-balances.html#comment-74256 If you had a rewards card and wanted to set up autopayment to deal with ongoing bills, and were going to be in a situation where you may have sporadic or bad internet access (ie, you're doing the backpacker tour through SE Asia) this may make sense. I've prepaid bills many times in the past; not everyone makes it easy to do autopayment (like my gardener) and you don't always have easy access to reliable internet if you're travelling outside the West. Once I had to pay my water bill from an internet cafe in Hangzhou. It took over an hour since the US connection was very slow and kept timing out. If you had a rewards card and wanted to set up autopayment to deal with ongoing bills, and were going to be in a situation where you may have sporadic or bad internet access (ie, you’re doing the backpacker tour through SE Asia) this may make sense. I’ve prepaid bills many times in the past; not everyone makes it easy to do autopayment (like my gardener) and you don’t always have easy access to reliable internet if you’re travelling outside the West.

Once I had to pay my water bill from an internet cafe in Hangzhou. It took over an hour since the US connection was very slow and kept timing out.

]]> By: Clever Dude http://www.bargaineering.com/articles/mbna-charging-for-positive-balances.html/comment-page-1#comment-74243 Clever Dude Wed, 07 Mar 2007 19:18:43 +0000 http://www.bargaineering.com/articles/mbna-charging-for-positive-balances.html#comment-74243 I agree that most of the time it's done by mistake (overpayment, credits, etc.), but I wonder if there are people out there who use their credit cards like a prepaid card. It would be the dumbest thing since you earn no interest and they say the balance isn't protected from fraud, but I'm sure there's SOMEONE out there who's done it. I agree that most of the time it’s done by mistake (overpayment, credits, etc.), but I wonder if there are people out there who use their credit cards like a prepaid card. It would be the dumbest thing since you earn no interest and they say the balance isn’t protected from fraud, but I’m sure there’s SOMEONE out there who’s done it.

]]> By: NCN http://www.bargaineering.com/articles/mbna-charging-for-positive-balances.html/comment-page-1#comment-74242 NCN Wed, 07 Mar 2007 17:39:32 +0000 http://www.bargaineering.com/articles/mbna-charging-for-positive-balances.html#comment-74242 I find it amazing that a credit card company would do something sneaky just to make a few dollars... wow! --- --- --- (Sarcasm, intended...) NCN I find it amazing that a credit card company would do something sneaky just to make a few dollars… wow!

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(Sarcasm, intended…)
NCN

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