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3 Months Interest On One Late Payment!
Posted by Lynteresting on 04/27/2009
I held my credit card with the Bank of Scotland for around nine years with no problems at all until the company was taken over last year by MBNA. Until recently I paid off the full amount every month but while busy caring for my dying mother I made two payments that were a few days late. I accepted the fault was my own and expected to be charged interest on these amounts, which I immediately paid.

However, today I received another statement with interest charged. When I phoned to query this I was told that MBNA charge interest and CONTINUE TO CHARGE INTEREST until an account has been 'in the clear' for a further TWO MONTHS after the original late payment! I have so far been charged £59 for having sent in full payment a week late.

When I then asked to have a full statement sent to me so that I could close my account I was told that a) this was 'impossible' to do until the statement's normal due date, and b) this statement would show a further interest charge as I was to be penalized for yet another month for the same late payment.

MBNA insist that what they are doing is absolutely legal and not 'dishonest' because customers are warned of this. Not on their statements, they aren't! It's quite possible that this may be mentioned on some other list of 'rules' sent out separately and only once, but I think it very unlikely that people who make a habit of paying off their card every month feel the need to dig out the rules as bedtime reading on a regular basis. In fact, if this practice is legal, it is certainly not moral and amounts to charging an interest rate that far exceeds the one they advertise.

I really would recommend that anyone who normally pays their card in full every month be made aware of this as it only takes the merest slip to send a single late payment and then find you are being penalized with 3 months' interest instead of one.
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False advertising
Posted by Kpare23 on 06/22/2007
When I signed up for MBNA's Worldpoints program, I was told that when I acquired a certain amount of points, I would receive a free round-trip ticket to wherever the amount of points would take me (i.e., 60,000 points to Greece, then free r/t ticket). When I called to redeem my points, I was told that they pay only a certain amount, and that I would be responsible for the rest. Not only was I on the phone for 1 hour being passed around from one department to another, but another hour arguing with a manager about what I had been informed. After I was given responses like "complimentary doesn't mean free" and "our staff would never tell you that," I was finally told that when MBNA was bought out by Bank of America, the points program changed, and that other customers had also been given incorrect information. I am still disputing to get credit for something I don't believe I should have to pay. I was told each time I called to check my points that I had a free round trip fare to my destination (Greece). This is false advertising, and I feel since I have spent over $80,000 on this credit card, this greedy company should reward me with the round trip fare I was promised. If you are a member of Worldpoints, beware because you are not receiving anything free. Your points only pay a certain amount, and then you are responsible for the rest. There are many other credit cards that will honor you with what they promised.
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Posted by Anonymous on 2007-06-22:
When BofA took over Worldpoints the entire program was changed. Advance notification was provided but as I was told by my bank manager very few people paid attention. He said there were many complaints of lost points once the change over took place.

Even though my credit card was not with MBNA, they did handle the processing. My bank notified me a couple of months in advance of the change to BofA. And knowing that BofA is not one I want to do any business with I cashed in my points before losing most of them.
Posted by adzidek on 2007-06-22:
You already paid twice over for that trip to Greece in interest on $80,000.
Posted by kpare23 on 2007-06-22:
I had called several times after the program changed to find out how many points I had, and also how the change affected me. I was told that I needed more points now in order to go to certain parts of Europe, but never told that my points only paid part of the trip. Believe me, I have asked many times if I have a free r/t ticket, and each time I was told yes. That's why I'm very upset about all this.
Posted by cadydid on 2007-06-22:
Trust me when I say you are not the only one that got screwed when BOA took over MBNA's credit card division. They changed the points on every reward program. Royal Caribbean's visa for instance.. it used to take 125,000 points for a free cruise for 2 to the Caribbean.. You used to be able to upgrade to a balcony by paying the difference. Now the free cruise is 150,000 points and if you want the balcony, it's 250,000.
Posted by voiceoff on 2007-07-22:
Jayd what if you were allergic to an antibiotic but that fact was buried in tiny print on your medical records? Would that be OK? Would you say the doctor was at fault who missed it and gave it t o you or the system that does not HIGHLIGHT it for the benefit of all patient? If we know human nature we should act accordingly.
Posted by Cruizzer on 2007-08-13:
I have a MBNA Royal Caribbean Visa points card also, and I lost my bookmark to the site where you can view your points. Does anyone know the website ??
Posted by Skye on 2007-08-13:
2,500 bonus points after your first qualifying transaction.
Earn 2 points for every $1 spent on qualifying Royal Caribbean purchases.
Earn 1 point for every $1 spent on all other purchases.
Redeem your points for onboard credits, stateroom upgrades, free cruise vacations and more.
Eearn up to 125,000 points per year.
Points earned are valid for 5 years.

I'm still looking for the points site.
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MBNA disappointment
Posted by Ashleyjane on 09/30/2009
OTTAWA, CALIFORNIA -- I won't leave my individual stories about how rudley I was treated by MBNA. I just want to advise anyone that is thinking of dealing with them. Times have been tuff and we may not have been able to make consistent payments but the people at MBNA have been ridiculous. Leaving beyond rude messages on our answering machines. Calling us "imature""irresponsible" I don't care how far the payments are behind you don't treat your customers like that. Even when we do make a payment they are so unorganized that we get like 3 different people phoning us saying the same thing. This company has rude service and bad organization and I pity anyone who deals with them.
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Posted by skelly39 on 2009-10-01:
Well, you're not really a valued customer when you don't pay your bill, but they shouldn't resort to name calling. Toughen up, answer your phone and work out an arrangement with them.
Posted by Fufu487 on 2009-10-01:
I agree, name calling is uncalled for. I had an ex that was into some horrible debt and had collectors call all the time. Not once did I ever hear ANY of them calling him names on the answering machine. And he was quite good at avoiding them. I would, however, get this straightened out before it gets carried away (I now have laywers offices looking for him, as calls to our old number get forwarded to my phone). Just remain professional, and expect them to do the same
Posted by Lulu on 2011-11-12:
They *are* rude. I'm a new customer, i don't even have my first payment due yet, so even without it being a question of money a CR almost called me a liar (long story short, he asked for some personal info i didn't give out in the beginning and he insisted curtly that i DID in fact give it out so i should be able to verify it)
Posted by Anil Verma mar 3, 2013 on 2013-03-07:
I have MBNA Reptor credit card and I have not received statement so I call customer service and they said in our system show that the statement is mailed out. So I have call every month for 3 month and still not get any statement and when MBNA send me a reminder letter I have paid them the amount on the reminder letter. After I call them up and ask where are my statement if I don't get my statement i can't pay. I did not know that MBNA put customer missed payment and bad credit on my trans-canada credit history. I would let everyone know think twice before getting the credit card from this company. In my situation I am going to talk to a lawyer to fix problem and also write a letter to ceo of the company.
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Customer Service at It's Best
Posted by Aminbashir on 02/21/2014
I have MBNA credit card since 1998 and not one experience negative what so ever. In fact, the only customer service department who solved every issue I raised in less than 2 minutes. I missed payments by 2 days a few times and every time I called they fixed it to my satisfaction. No other credit card company is as client friendly as MBNA, as for I am concerned. Now I got 2 MBNA cards on my name, one to use on the net with lower limit. I congratulate MBNA staff to exceed my expectation.
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Posted by Slimjim on 2014-02-21:
Actually there hasn't been such a thing as an MBNA account for almost 10 years now. Bank of America bought Maryland Bank North America at the time and rebranded them all BOA as far as I know. So for those reading, this compliment also reflects Bank of America's card services.
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StarEmpty StarEmpty StarEmpty StarEmpty Star
Increased Interest Rate (ALMOST DOUBLED!) Without Proper Notification!
Posted by Tleighs on 12/22/2013
I have been a card holder with MBNA since 2004. Several years ago, I called to see if I quality for a lower interest rate (or if they had a low interest rate card) than the 19.99% I had at the time. Indeed, they reduced it to 11.99%, and I was allowed to retain the reward program for the card. I was just digging through my electronic statements, and realized that my interest rate has been increased to 21.99%!!! As I continued to look back in my statements, I realized this increase happened over a year ago, and nothing was mentioned in any of my electronic statements.

I assumed this was a mistake of some sort, so I called to resolve it. I was informed that it is within their right to increase my rate at any time, even though I have never missed a payment or overdrawn my balance, and always pay more than the minimum payment. They are required to send me a letter to notify me 60 days in advance. However, because I only receive electronic statements, I do not always open paper mail I receive from MBNA, because it has consistently been promotional offers.

While this increase is technically legal (I will be looking through my unopened mail for that letter!), I think it is horrible customer service to nearly double the interest rate for a reliable and loyal customer of 10 years, with only a paper letter, particularly when the customer only receives their statements electronically. I'm disgusted with them! I will be paying off my balance as soon as possible and closing my account.
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Posted by Paul on 2013-12-22:
The old rate you were paying (11.99%) is highway robbery IMO. You would be well advised to do whatever you can to get out from under that kind of usury rate. 22%, while almost double, is just another usury rate. Paying either is outlandish - you are essentially working to earn money to give to a bank money to carry debt.

MBNA was a great organization - I had a credit card and CD's through them. BOA bought them back in 2006 and that was that. The MBNA name is only retained in Canada and England I believe.
Posted by Weedwhacked on 2013-12-23:
"I was informed that it is within their right to increase my rate at any time, even though I have never missed a payment or overdrawn my balance, and always pay more than the minimum payment."

This is a correct statement to which you agreed to when you opened the account with them. Also, if you always pay more than the minimum then they aren't generating as much profit from you as they could. That's one reason they may have increased your rate.
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Terrible Answering Service
Posted by Valdumoulin59 on 11/10/2011
MAGOG QUEBEC -- Tried to get a new credit card; had to call at least 6 times because the person answering spoke so poor french that I could not understand half the word she was saying. So I tried in English, the first time it was even worst in English. After 6 times I finally got somebody that could speak some understandable English. I had the feeling that I was transferred to an Indian answering service just like in the movie, everyone of them was speaking with a gross foreing accent. If this is the indication of the kind of service they provide when I want to subscribe for a card, Imagine what it is going to be like when I do have a real problem.
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Posted by Slimjim on 2011-11-10:
Wow, there are still credit cards issued somewhere under MBNA. I thought Bank of America absorbed and dropped that branding world wide.
Posted by trmn8r on 2011-11-10:
No, I heard they kept the MBNA brand alive.

It's a darned shame. I was an MBNA customer for years, prior to BoA swallowing them up. I loved MBNA - great customer service and products. The only complaint was they didn't have a website to track my CDs.

BoA should not sully the memories of loyal MBNA customers, and retire the name. They can proudly display their own name, so SavvyConsumers know to avoid that business at all costs.
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Posted by Essays on 08/11/2008
I and members of my family have terminated our accounts with them. High interest and bad service. Nothing more to say!
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Posted by Seamaid on 02/08/2008
I'm going to transfer out of this account as soon as I get home tonight! I pay ahead on my account, and carry a balance of approx. $6,000. I can't believe they haven't jacked up my rates like they have to others, I figure it's only a matter of time, or I've been lucky so far.

I'm going to beat them to the punch.
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Posted by tnchuck100 on 2008-02-08:
If you have a problem we would be more than happy to hear it. Possibly even offer some help.

Exactly what IS the problem?
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I can't think of many thing in life I hate as much as MBNA
Posted by Hatembna99 on 10/30/2006
If your credit discipline is great, as in you never keep a balance maybe MBNA (or any credit card company for that matter) is probably fine. The truth about how these banks treat you mainly come out when you find yourself in a some credit "hot water". First, I don't have a sense of entitlement, as in I don't believe it is my "right" that a bank do what is in my best interest. Business is business, if I got myself in a jam, it's my responsibility to get out. Long story short, I had a balance of about 14K on my MBNA. Because I was late a few times, my interest jumped to a little over 21%. I tried calling around Sept/06 to negotiate a better rate as interest was killing me! Some of the responses I got from them was: "I'm sorry, but we're not here to help you", or "We suggest going to credit counseling, it is your best course of action". Bottom line, nothing can be done. Before you read this and think to yourself "but you (as in me) are a total idiot for being late on 14K of debt, you get what you deserve"....you may be right, but citibank is my one and only favorite bank, I was late with them and my interest jumped to 21% as well. However i called them, and in less than 5 minutes had my interest back down to two offers of 6.99% and 10.99%. This was on a balance of about 15K. Maybe MBNA is operating within the law, but that argument falls apart when there is another bank that is willing to make a mutual deal where everyone walks out winning a little something. The advice MBNA gave was absolute bull, credit counseling in useless. Maybe because of the new bankruptcy laws, they aren't afraid of consumers filing anymore and are trying to back you into a corner. In any case, I've paid off all my MBNA debt within 2 months, transferred some to Citibank which I am happy to give my money to. I was originally intent on closing MBNA in protest when I finish paying it off, but decided a better course of action. First, my limit is around $14K, so to have that at 0 balance helps my overall credit worthiness. I can probably annoy them a little but continuing to periodically use the card but pay it off immediately during grace period. For those of you who don't have MBNA and are considering them, there are so many other banks other than MBNA that are better to deal with. Stay away from these guys.
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Posted by DebtorBasher on 2006-10-30:
It is in the agreement that the APR will be raised for late or missed payments. Lowering the APR after a late or missed payment is a courtesy that most companies will give the customer ONE time, but you said you've been late a few times. I also will never deal with MBNA, but not for the reason you state, but for the complete opposite reason. I had a balance with them for about 8-9K and had them for 9 years with NEVER a late payment and NEVER a missed payment, my credit report stated on everyone of my credit cards that everything was "paid as agreed, never late, never missed payment"...NEVER...and they raised my APR up from 5.99 to about 19.99 ... why? Because they say they can...I say the reason is because they have to make up the loss from people who don't pay their bills...so, where else would they make it up than with those of us who do? I would say treating their A1 customers of nine years like that is much worse than raising the fees on someone who has been late more than once which is what the consumer is aware of when they make the agreement. Bank of America did the same as well as Provident and CitiBank...they all did the same to me, the paying customer,never late,never missed...well...they are all history now, I have no more credit cards and I will not deal with any credit card company again.
Posted by bigbangerik on 2006-10-30:
deb, that sucks
Posted by Slimjim on 2006-10-30:
If MBNA told you to sign up for credit counseling, it sounds like they are prepared to offer a payment arrangement to one on your behalf should you do so. It sounds like they are willing to lower your interest, but only through a 3rd party program. This way they know you're serious, have to do a budget, and are less likely to default.
Posted by *Brenda* on 2006-10-30:
I always think it's amusing when people are just like ohhh I was late a few times and they did this to me! Umm hello??? You were LATE!
Posted by DebtorBasher on 2006-10-30:
Exactly Brenda.
Posted by lepearso on 2006-10-30:
Don't worry about MBNA anymore. They just got sucked up by Bank of America. R.I.P.
Posted by LANDON on 2006-10-30:
Like Bank of America is any better..
Posted by Anonymous on 2006-11-03:
Nice google, slim.
Posted by CREDIT?? on 2006-11-04:
Posted by hatembna99 on 2006-11-29:
Sigh, orginal poster here, just read some of these comments. Some helpful, some puzzle me. If you read my rant, you would see that I clearly stated I do not have a sense of entitlement of what a bank should do to benfit me. I admitted I was late, yes, I agreed to terms that the rate would increase if I broke the terms of agreement. I fully understand what the consequences are of being late. They operated within the law and banking practices I'm sure. This is why I followed my explanation with my Citibank experience. It becomes clear MBNA's procedures fall apart compared to other banks out there, for me, it was Citibank that saved the day. Despite what I believe was 2 late (never late in the past 5 or 6 years I've been with MBNA or Citibank) payments, Citibank chose NOT to back me into a corner and play a bluff game to see how much they can screw me for. Citibank instead, made the amicable choice by meeting me halfway to win my business over.

This is the difference, I am not bitter at MBNA for enforcing their policy that I agreed upon, I am bitter because of their poor and misleading advice, unwillingness to work with the consumer, and their general brute force tactics of backing the consumer into a corner. Is it wrong they use these tactics? Technically, probably not, it's within agreement. But everything changes when another bank out there is willing to work with you. Whether the consumer is responsible or not, is irrelevent for the purpose of my rant. it's about how the bank works with you through thick and thin. There is at least another bank out there that will not stoop to these tactics and I fortunately found one.

Again, I repeat for some of you out there that didn't catch the gist of my review (I'm sure my writing could have been better as well, maybe this was the problem) I am fully aware of how credit card terms of services operate. I take full responsibility for my own actions.

I was late with Citibank as well in the same months as MBNA and the results of negotiation between the two banks were night & day. I'm not new to credit, my limit in total between 3 cards is over 50K(not meant as bragging, but to illustrate I've been around the block when it comes to credit cards). My history is flawless except for the 2 late payments in the last year, you don't get 50K limits for being constantly late and not being able to pay off balances.

For SlimSlim, I see your point about how it seems MBNA is trying to help by advising debt management, but it actually isn't. From what I understand, Debt managment has a high chance of negatively affecting your credit. Some banks may, or may not report this. If MBNA has to deal with a 3rd party debt management company, that means they will most likely have to negotiate a lower apr. Banks usually would rather not deal with debt managment. I believe this was MBNA's way of creating another hurdle for me to avoid negotiations. Going through debt management does not make you any more "serious" in paying anything off. Remember, I was late only twice, have flawless credit besides that, and have been making payments of over $600 a month to my MBNA account, not your typical profile of a credit deadbeat, debt management was clearly not what I needed. They should already know with my credit history I am not at risk to default at all, I believe it's because of this, they were trying to push my into a corner because they knew I'd be reluctant to do anything further to take a possible credit hit. Luckily for me, I'm at 0.00 balance now, and will keep it that way.
Posted by ctcushing on 2008-01-22:
The credit card company checking your credit every month does not effect your credit score. It's not the same as you applying for more credit, it is classified a different way and says so in within the fine print of the credit reporting agencies.

Yes, these banks are borderline crooks. Yes, they are looking to lure you into a trap of owing them more money than you can afford to pay. Yes, fees are a large part of their profits. And yes, they successfully lobbied in getting the bankruptcy laws changed in their favor.

The bottom line is you put yourself at risk whenever you charge more then you can afford to pay. If you owe them money, then you are indebted to them and you should expect to be exploited.

In effect, as soon as you go into debt, you work for them. And just like your boss, they can change the terms of your employment at any time.

I was in debt for years to ilk like MBNA, Nation's Bank, CitiBank, Chase, Sovereign Bank, and probably a few more. And every single one of them, at one point or another, royally scr*wed me.

Now, many years, and thousands of dollars in interest and fees later, I am debt free and will remain that way. The banks work for me now, not the other way around (this year I received $400 cash back and paid $0 in interest and fees). The banks still made money on merchant transaction fees. And instead of constantly having my interest rate go up, mine constantly go down.

You cannot win the credit card game unless you have the upper hand. If you owe money, you cannot have the upper hand.
Posted by hatembna99 on 2008-01-24:

Wow how random of a chance it is for me to return to 3cents to read the follow ups and see a posting just a few days ago! I haven't been back here for over a year! In any case thank you for your words of advice. A nice citbank CS rep explained to me once the different classifactions of credit report checks the industry uses, I can't remember but they may have used "soft" and "hard" checks as terminology. You are absolutely correct about putting yourself at risk when you owe money to banks and losing the upperhand. Owing money to anyone or anything will never give you the upperhand. In my last post I explained MBNA's exploitation doesn't surprise me, the point of my original complaint is that another bank exists out there that will treat you differently udner the same conditions. Of course each individual experience will vary, as I'm sure searching under "citibank" will produce just as msny if not more complaints than MBNA. it seems many readers who post comments seem to be missing this point (not implying you), the problem is not the inability to understanding the consequences of the credit industry, but rather what makes one bank better than the other and for what reasons. A few comments after my orignial post had a "finger-wagging" undertone that completely missed the point of the complaint and the context of my negative review. Understand that because you are indebted to a company does not mean you sit there and take what they dish out to you! yes when you are bound by terms, you are at a disadvantage but when you see there are other options out there that will work with you under the same conditions, would it not make sense to go to that other option and broadcast your experience to help others? Is there a clear difference in service and customer commitment to me between MBNA and Citibank? Absolutely. Do I have to accept that MBNA would bully me and try to force me into bad situation when Citibank would not? It's irrelevant what my credit history is, it's irrelevant how much I owe (in the context of this review), the bottom line is simply one bank had the capacity to handle my siutation in a totally different manner creating a reference point to what is bad or good for me, the consumer. Regardless of what is allowable by law, the tactics MBNA uses are hostile and unconscionable in my opinion. I understand the analogy of "war is war, during war you have to expect killing", which I think was generally the meaning of you post, that if you are in a certain position, you must accept collateral damage. MBNA's poor treatment to the consumer, regardless of fault, being the collateral damage. I've been trying to explain all along that I've found an alternative that wasn't a war, and didn't involve any collateral damage! I found that there are options out there. To further illustrate my point of "options", since my original post, I am still at a 0 balance with MBNA. My interest hasn't dropped one bit, and I do not have a grace period so if I charge something and pay it off the same day electronically (2 or 3 business days to clear), at the end of that billing cycle I will still have a $1.50 minimum finance charge. Before people start chiming in and lecture that it's my fault to begin with and I should expect that if I were ever late with a payment, Citibank has increased my limit 4 times in the past few years, has dropped my APR without me saying anthing 3 times (my current standard purchase rate for 2 citbank cards are %9.25 down from %10.99 at its highest). I actually have a small balance with Citibank as well. I've been late the same 2 times with both MBNA & Citibank cards around the time I initially posted my complaint. Can you see the difference between the two, regardless of what the chain of events that lead up to the MBNA meltdown are? I would think the stark comparison of the two banks that I have given is enough information to make anyone make a decision as to which bank should be getting their business, which was the whole point of rant.

Posted by hatembna99 on 2008-01-24:
I still wish *Brenda* and Debtorbasher would return to clarify their comments and explain how they relate to my original post. Hopefully they do....

Posted by DebtorBasher on 2008-01-24:
I guess my point was, they do the same thing to those of us who have never missed a payment or was ever late on one. I was also informing you that a credit card company CAN reduce your rates as a courtesy, one time if you have a good payment history. And my other point was, it isn't just one bank that jacks up the rates. When I wanted to transfer the balance from one card to another (because the bank jacked my rates up after being a good customer and paying on time ALL the time), the other bank said they would "NEVER DO THAT" to their good customers who pay on time. Then they did anyway.
Posted by theroseoftralee on 2008-06-17:
just so you know, i work for mbna, they have recently instituted a policy which states that if your interest rate jumps, after 6 on time payments, the interest does go back down.
Posted by Cheryl on 2013-08-05:
About 11 years ago, I was having some financial difficulty with my credit cards due to having lost my job with an insurance company when they were sold. My former MBNA card was then owned by PNC
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Posted by SD in San Diego on 10/16/2006
It's Shocking what they said to me! I got MBNA card Feb 02, 0% then 12.99 FIXED after that. I was NEVER late even once!!! I was offered small balances transfers twice and paid down to zero, then Jan 05 transferred $3,700 then tranferred $7,000. Oct 05, for total of $10k+ on the MBNA card. I paid on time, then the moment it went off initial transfer rate in Aug 06 MBNA jacked my rate to $28.24%!!! I have called 'repeatedly' and they transferred me to outside credit counseling then the last lady at MBNA, Jane Hartford, said to me and *****I quote, "You are not using your card in an acceptable way." I said, I have never been late! She said,"MBNA isn't meant to be a long term card, MBNA is meant to be a revolving, swipe your card at the store so that we can get the exchange rate type of a card." I kid you not! That's what she said. She continued, "You have been making minimum payments too long and don't use the card as intended. We want you to pay down your card and charge it up with purchases." She also attacked my credit, which I had a copy of and said, "You owe too much on credit cards." I said, "That's my business, and I have never missed a payment, so what do you care?" She said, "You're $45k in debt, that's too much." I said, "Not if I make $135k a year, it isn't." Get this- she said, "Well, if that was true then you'd have paid all your balances down by now and have really excellent credit." I said, "It's none of your business what I do with my money. What if I own 3 properties, then is that acceptable to you?" She said, "Well, we're getting nowhere with this, do you want to speak to a Manager?" I said, "You better believe it." But he naturally wasn't available, so I called back today, Oct 16 2006 and she closed my account "per customer request"!!! I paid ON TIME every single month, NEVER once late. I cannot believe this treatment. Today I transferred the balance to my credit union, California Coast, They have always treated me right. I will NEVER do business with MBNA ever again!!!
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Posted by Hugh_Jorgen on 2006-10-17:
A lot of credit cards now have that feature built into their fine print - if your overall credit rating changes (for whatever reason) they can change your rate accordingly. Hopefully you will have better luck with your credit union - they are usually more customer focused.
Posted by lepearso on 2006-10-18:
MBNA just merged with Bank of America. I fear that their service will soon get worse!
Posted by TCL on 2006-10-30:
Thank goodness for your comments and those of others on MBNA. I was considering thier MBNA/BOA's clean sweep loan for my debt consolidation. (Student loan rates have gone crazy). I dealt with this thye of "Customer NO Service" with Chase. I do not want to go through that again. THANKS!!
Posted by HondaCivic4DEx on 2007-04-20:
"I paid on time, then the moment it went off initial transfer rate in Aug 06 MBNA jacked my rate to $28.24%!!!"

"She said, "You're $45k in debt, that's too much." I said, "Not if I make $135k a year, it isn't."

"But he naturally wasn't available, so I called back today, Oct 16 2006 and she closed my account "per customer request"!!! I paid ON TIME every single month, NEVER once late.

I don't understand and if you would explain I would appreciate it. You are complaining about the high interest rate. I assume you know that no longer is there cap on credit card interest. They could charge much more if they wanted to.

Again, "I paid ON TIME every single month, NEVER once late."

So what is your issue about the large interest rate. You should never see any interest rate charge. I never have since I am set up with automatic full payment of my credit cards with Bank of America.

I don't make $135 but reasonable close to that and I have no loans except for my revolving credit cards that are paid off each month.

When the Bank of America and MBNA merger actually took place, I was pretty angry due to how screwed up on-line was. Oddly I was told that due to the need for quickly getting on-line available, Bank of America knew about many bugs in the system but released it anyway and they were plagued with people like myself having an awful time trying to access accounts. I asked them that since the people who use the Bank of America on-line service are current customers, why are they in such a rush to put out software that they know has a lot of bugs in it. Nobody had an answer to that. It took about 2-weeks for Bank of America to get their bugs straightened out. Now, normally the next day I see my credit card transactions on on-line. Sometimes I see them the same day and sometimes the next day. They are in Pending state as is proper since the vendor is not sure about the account as the credit card can be counterfeit. I like seeing my charges quickly.

One catch both positive and negative is that Bank of America has so many departments due to the merger that I have a list of telephone numbers and unfortunately since I live in CA, the FCC has different regulations for CA than any other state and that is sometimes a hassle.

I keep three telephone numbers that I received from the various CS people for their managers. I do not hesitate to call the managers and at most my issues have been resolved inside of two days.

In general, CS is lousy wherever. Normally one has to go up the ladder to get results. Regardless of the company, since CS is lousy wherever, I get supervisors who normally resolve my issues.

The other day, from another company, a supervisor gave me a suggestion that made no sense to me. I asked her to explain why she made the suggestion. She said she did not know but would transfer me to somebody who might know. That makes no sense either but I got disconnected anyway. Fortunately, I finally got a CS person who knew something and resolved the issue.

I also have American Express and have put in disputes with both companies. Not always has American Express come through but Bank of America has always resolved my problems.

Perhaps my experiences have been unusual but they work for me.
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