Stay away from MBNA

Thats not on! what did you do in reply to that? My friend went through the same sort of thing. He just told them he would go to court.

That's bad for MBNA. They should arrange some quick solutions.

I have an MBNA card and never had any problems at all. You must have just had some bad luck. Bad things happen even from good companies.

I've never had a problem with my MBNA card.
It's recently switched over to BofA like someone mentioned before, and it seemed like a smooth transition.
I think you can have a bad experience with just about any CC company.

Wow! That is really hard. And really high charges. Goodness! Even if it's some fault made by the credit card company or due to the change of management it should have not been that high. I agree to his sentiments eventhough it's just one case. Well there is always a first time for everything. I wouldn't let that happen to me. I would go ballistic.

I am actually in the process of getting rid of that card. I for one cant stand B of A to begin with. I went to make a payment on the day it was due. At 9am im getting ready to make the schedualed payment and i notice its not going to post untill the next business day. On my previous statement i had a late fee and swore i paid it on time. I call bofa and they tell me its cause i didnt check the express payment and PAY a extra 12 bucks to have it post that day. So because i didnt do that the previous month they said my payment was late cause it processed a day later. All my other online payments do not work this way, when i scheduale the payment it posts THAT DAY. Now on one card i do need to make it before a certain time 5pm est time i think. Since it was late they reviewed my account and my interest rate rose to 25% because i have other High credit limits on other cards, NOT balances mind you LIMITS.BofA is giving me a higher interest because i have good enough credit to have high limits. WHAT A JOKE.... I have had this card for several years and have made only 1 late payment. When i was talking to the customer service lady she was really nice and waived the late fee, however when i went to the "retention" department they would not lower my rate. STAY AWAY from BofA. They are crooks. They claim to have a great customer service department but its not very good IMO. I have managed CS departments in the past and i was not handled very well. For a long time customer who has a history of on time paymets to be treated this way is WRONG.

Quote:

Originally Posted by cadillac

i heard MBNA was bought out by another company... don't know which one

they were the ones who actually hired up interest rates, etc...

MBNA was purchased by Bank of America.

I have been a excellent customer of MBNA for many years (high balance, never late) Yet, I receive a notice from MBNA that because of "Federal guidance the terms of your account are now changing." I went from 13% interest to 28%. What's this all about? Needless to say I closed the account and will pay it off- hopefully under the old terms. It's really no wonder that so many people are driven to bancruptcy when banks give easy credit, offer teaser rates and then when they get you hooked- JACK UP YOUR INTEREST RATE.

All I can say is, I hope Senator Levin, Michigan, and his committee will not be hoodwinked by the credit card industry and enact customer freindly credit card reform. Although, I'm not so sure this will happen because the credit card companies and banks provide huge amounts of money for re-elections.

Well, I had a credit card from MBNA for about two years, and had nothing but good experiences. Like someone else posted - different people will have different experiences. Personally of all the companies I have been with they were one of my favorites!

Quote:

Originally Posted by OPR

MBNA was absorbed by the friendly folks at Bank of America.

To the original poster, you might try calling MBNA (before the merger is compete in the 4th quarter of this year) and tell them that you are having great difficulty managing payments to them at the increased interest rate, askng them for a temporary reduction in the rate until your debt with them is a bit more manageable, as you are worried about the possibility of default (note the magic word "default" in the last sentence). From what I'm to understand, MBNA, as a matter of policy, wishes very much to have defaults on its books, and will likely cut you a deal for a 6 or 12 month period at an annual interest rate of either 1% or 5%.

Try it, you have nothing at all to lose by asking, especially since you intend to stop using their card anyway.

Good luck!

i agree