FIA Card Service - MBNA or Bank of America Informative - Hold up to improving the Economy
I get monthly statements from MBNA with Transfer Checks. I normally do not use these checks. However, enlight of the CARS program, I decided to attempt to rearrange some credit, which would allow me to take advantage of the Cash for Clunkers deal.
PRIOR to me calling for approval, my credit line WAS $33K, I paid my balance down to $10K. I wanted move my balance back to $16K. This would enable me to buy a new car under the Cash for Clunkers deal.
However, upon asking for this request, the credit manager lowered my credit limit down to $11K, thus eliminating my ability to buy a new car.
Therefore, the bank is blocking my ability to rearrange my credit. Before calling, my credit was just fine and I was receiving monthly requests to use my available credit.
I think this was wrong and also misleading. Once again, the banks are receiving stimulus money buy they are not allowing the money to be used to boost the economy.
Bank of America should not have merged with MBNA. I have always had issues like this with MBNA. I am trying to find a away to move my loans to another lending institution.
I have had nothing but hassles with MBNA. Hope this information is useful to someone else.