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MBNA Complaint - STAY AWAY FROM MBNA - CREDIT CARDS AND/OR CREDIT LINES
CREDIT CARDS AND/OR CREDIT LINES - Complaint
I have been a customer card holder with MBNA since 2001. I have never defaulted on a payment or neglected to pay off a balance in full. I increased my credit limit from 10,000 to 15,000 last year. I chose not to use my card until I had a need to use it which I believe is my own perogative. I called in just the other day to order cheques and I was informed that my available credit was decreased without any notification to myself (meaning no phone call, no letter and no e-mail to myself informing me that I was being penalized). This company decreased my available credit of $15,000 which I worked so long and hard to qualify for and obtain all the way down to $400. I was told that they had to decreases my available credit limit due to the fact that I was not using my card and they had to minimize their risks just in case anything security-wise would have happened. I was shocked that I was treated like this and was unable to do anything about it. They also told me that I would now have to re-apply for another increase in credit which we all know would affect my credit rating once again because anytime you request a credit increase, it goes against your credit score. People, can you imagine if I was at a business luncheon and the meal was over $400, how embarrassing that would be for me to not know that the card that I was holding now only had $400 worth of credit available instead of $15,000! What a fool I would look like not even having money to pay for a business luncheon. I have now cancelled my card with them and I have now told everyone that I come into contact with that this MBNA company is the absolute worse company that you can deal with regarding anything. Their customer service is horrible and their ethics and controlling manipulating ways really gives banks a bad name. STAY AWAY FROM THIS COMPANY as you will become a victim!
Comments:
Posted by justthefaxx on 2009-05-28:
.....and your tax dollars bailed them out.
Posted by Trixta on 2009-05-28:
Victim? You're not out a penny of your own money. They reduced a credit line that wasn't being used on a card that wasn't being used. The credit line is their liability, and it's their right to reduce it, just like it's a customer's right to go somewhere else.
Posted by Slimjim on 2009-05-28:
MBNA is now Bank of America. In regards to warning future applicants, I don't think that will be an issue with any credit card lender right now. The days of obtaining large credit lines are over aside from an elite few. The rest won't be getting an aggressive limit to be reduced in the future.
Posted by CaptainSpaulding on 2009-05-28:
Slimjim: You are correct, however Bank of America is using the name "FIA Card Services" for all former MBNA credit card accounts.
Posted by voiceoff on 2010-01-04:
They should have let you know but yes that is their right. However why should your score, based on YOUR actions and creditworthiness, not their sudden reduction without cause, be damaged, if they changed the rules of the game in the middle?
Every thing is score driven and your reputation was ruined by being a nice person who does not have a huge balance.SHAME ON THEM!
Every thing is score driven and your reputation was ruined by being a nice person who does not have a huge balance.SHAME ON THEM!
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