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If you find yourself in financial difficulty, it could be hard to figure out what to tackle first. This page includes things to look out for to prevent things getting worse, and links to helpful information should you need a little extra help to take back control.

Get help with money worries

The most important thing if you’re having money worries is to not keep it to yourself. If you’re in financial difficulties with your MBNA credit card or loan, please contact us to discuss your options.

Credit cards - call 0800 056 7298 (or +44 1244 757 233 from outside the UK). Lines are open 9am- 8pm Mon-Thu, 9am-6pm Fri and 9am-1pm Sat. 

Loans - call 0330 678 1430. Lines are open 8am-6pm Mon- Fri and 9am-5pm Sat and Sun.

Standard network charges may apply. You might also find our dealing with debt page useful.

Keep track of your personal loan

You won’t receive monthly loan statements as your monthly repayments are fixed for the full term. However, you will get an annual statement, and you can call us for transaction updates, or you want to talk to us about your loan. 

Know where you stand with your credit card

Use Online Card Services or the MBNA Card Services App to review your account, check your statements and keep track of when your payments are due.

Fees and charges

If you’re struggling to manage your repayments, additional charges could make things harder, so it’s important you avoid these wherever possible.

Personal loans: if you miss a repayment, you could be charged £25 and have more added if you don’t catch up.

Credit cards: charges could apply if you go over your agreed credit limit, you miss or make a payment late, and for certain transaction types.

Learn about fees and charges

Ways to pay

Check out our range of payment options, so you can always make your repayments on time. We’d suggest repaying more than the minimum amount if you can.

Personal loans:
Your monthly loan repayments are fixed, but you can make additional payments by debit card at any time to reduce your interest costs and the loan term. Charges of up to 58 days’ interest will apply if you settle the whole loan amount early.

Credit cards:

  • If you breach your account terms and conditions, i.e. by missing a repayment or going over your agreed credit card limit, you could lose any promotional offers on your account, meaning the higher standard interest rate will apply to your outstanding balance.
  • If you only repay the minimum each month, it’ll cost more and take longer to repay your balance - try to repay more if you can. Check your monthly statements for full details, including repayment due dates.
  • Keep track of your account balance. Even if you don’t buy anything, charges could take you over your credit limit.
  • Consider setting up a Direct Debit - we’ll claim repayments automatically from your bank account, so you’ve got one less thing to think about.

 

Not sure how much you're spending?

Use our income and expenditure (PDF) form to work out your monthly budget. If you’ve got more going out than coming in, you might need to change some things. The goal is to earn more than you spend, and look for ways to reduce or eliminate non-essential spending.

  • Create a budget and write a list of spending you can stick to. 
  • Keep your receipts to check against your statement, and as a reminder of what you’ve spent.
  • Avoid impulsive buys - do you really need that item/service?
  • Review things like phone contracts, insurance policies and utilities - could you save money by switching?
  • Check the interest you pay on debts - could you transfer to a lower rate elsewhere?
  • Budget for expenses you can predict, like annual car insurance premiums or holiday spending money.
  • Try and save a little for what you can’t predict too, like car or home repairs.
  • Only borrow what you can afford to repay over a reasonable amount of time.
For most people, it makes sense to focus on their essential expenses or priority debts first. You can find more information about how to prioritise debts on the Money Advice Service website.


Helping you stay on track

If you breach the terms and conditions of your credit card account or loan account, either by missing a payment or going over your agreed credit limit, charges will apply. You could also lose any promotional offers on your credit card account, meaning the higher standard interest rate will apply to your whole balance.

To avoid this happening with your credit card:

  • Always make at least the minimum payment by the due date detailed on your monthly statement - we offer a range of payment options.
  • Consider setting up a Direct Debit - we’ll claim payments automatically from your bank account, so you’re less likely to forget.
  • If you only pay the minimum each month it’ll cost more and take longer to repay your balance - try to pay more if you can.
  • Keep track of your account balance - even if you don’t buy anything, charges could take you over your credit limit, so leave some available credit.
 

To avoid this happening with your loan:

  • Set up your Direct Debit monthly payment for the time of the month when you have money. This will probably be just after you get paid each month.
  • Keep track of your monthly spending and stay on top of your budget – you want to make sure you’re able to pay back what you borrow.
 

Managing your credit card account or loan account

We've put together a series of handy guides which explain complicated stuff like minimum payments, statements and how to manage your credit card account effectively. Learn more about managing credit.

We’ve also got answers to questions many of our customers ask about loans, from how to pay off your loan early to what fees and charges there may be. Learn more about personal loans.

If you have financial concerns or find yourself in financial difficulty, please contact us to discuss your options. Everything will be handled with the sensitivity you’d expect.

Credit cards - call 0800 056 7298 (or +44 1244 757 233 from outside the UK). Lines are open 9am- 8pm Mon-Thu, 9am-6pm Fri and 9am-1pm Sat. 

Loans - call 0330 678 1430. Lines are open 8am-6pm Mon- Fri and 9am-5pm Sat and Sun.

Standard network charges may apply. You might also find our dealing with debt page useful.

Free and independent advice

You can get independent advice about money worries from a range of organisations, including:

PayPlan
Visit PayPlan

StepChange Debt Charity
Visit StepChange

Turn2us
Visit Turn2us

Managing Advice Services (MAS)
Visit MAS

Citizens Advice
Visit Citizens Advice

National Debtline
Visit National Debtline

Financial Conduct Authority (FCA) – information for consumers dealing with financial difficulties due to coronavirus
Visit the FCA website

Important: the content of this page is not intended to be taken as financial advice or recommendation from MBNA. You should seek independent financial advice if you're unsure about your financial needs.