If you are an MBNA credit card holder then you could be in for a shock when your 0% deal comes to an end.

This is because MBNA are whacking up the interest rates paid by some of you to a staggering 34.9%. 

That dear readers, is quite a lot!

And what has really annoyed many of you MBNA cardholders is that the huge rises are taking place at the same time as the promotional interest rate offers you have been enjoying, come to an end.

Well now, that’s not a surprise is it?

To make matters worse, the US-owned credit card provider will face accusations that it is hiding these high rates from those of you that have a card with them. On its statements it shows only the much lower monthly rate; not the all-important APR. 

Get help choosing the right credit card.

In addition, a number of you with Virgin credit cards (another leading brand issued by MBNA) have also been hit with similar rises. 

MBNA (which has 7 million UK customers) said that those of you on a rate of 34.9% represent "a tiny proportion of our overall customer base". A

An MBNA spokesman said: 

"We have millions of customers who are at 0% and many more millions at other low interest rates ... plus all of the offers, points and incentives that we give to cardholders. Our average rate is around 15%."

The spokesman did confirm that the APR is not disclosed on statements, though he added that it is mentioned in other correspondence:

"We disclose monthly rates on statements because this helps our customers calculate their monthly interest. Whenever we make changes to a customer's account, we always give written notice. The APR for purchases is clearly shown on this notification, so we do not believe we are trying to mislead customers."

Well, that remains to be seen doesn’t it? Do you think they are misleading people.

But it’s not just MBNA who are raising their credit card rates!

Price comparison site, Moneysupermarket.com has revealed that over 30% of us with  credit cards have seen our APR increase in the last year.  It warned that raising the interest on purchases would only make our rising food, fuel and mortgage bills harder to pay, and lengthen the time it takes us to clear our debts. 

Need debt help? Check out our debt section for advice and debt management solutions.

Moneysupermarket.com’s research showed 31% of us have had our APR hiked in the past year.

Egg, Capital One, Lloyds TSB, MBNA and Barclaycard have been the main providers changing rates for their existing customers.

So, are you an MBNA customer facing a massive rate hike? 

Why not compare other credit card deals to see if you could get a better deal?