Complaint Review: MBNA America

In February MBNA America mailed a "no interest for year on credit card balance transfers" promotion. Since I had an open account at MBNA at 9.9% with a balance, MBNA's call center agent told me they could open a second credit card and I could transfer a balance from CitiBank's CitiCard program on which I was paying interest. This new account would have zero interest for a year. They were told that this deal was predicated on maintaining the 9.9% on the original account.

I went forward with the transaction. Sixty days later I suddenly discovered that the 9.9% interest on the original account had been raised to 17.98%. Since my credit is practically impeccable, I've had no lifestyle or financial changes in my life, and I've meticulously paid as agreed, this looked very suspicious.

I called MBNA, and after significant "tap-dancing" on their part, as well as their claiming that they had notified me in a statement, they finally adjusted the account back to 9.9% retroactively.

It is obvious that MBNA attempted to charge interest one way or the other on the "no interest" account through manipulation. I consider the entire episode deceptive and unethical. They may have had the legal right to make the change, but ethically, what they did stinks.

Roy
Houston, Texas
U.S.A.