Complaint Review: MBNA AMERICA - WILMINGTON Delaware

Well i use to work for MBNA in New England. "Fixed Rates" are usually for only 6-9 months. If you have a high balance and you cant seem to pay it off, try "Balance reduction", they will tell you they can only go 85% at first but they can goto 50% without manager approval! you have to remember they are there to make the company money. they make their money off people being past due. if you are past due right now, and you want to stop the over limit and late fees ask them about a "REAGE" all you have to do is make 3 payments of 2.5% over a 3 month period and then at the end of your billing cycle they will "reage" your account to get it out of their delinquincy. It helps you and helps them! then when they get your account back on time then just pay your regular payment or ask for a balance reduction. or a settlement on the account, some account managers will goto 35% of the balance. there are also hardship programs. Dont get me wrong I really loved working for MBNA and i was very good at what i did. But i was also there to help people, the only reason why i dont work for them anymore is because i got written up and i walked out, they wouldnt let me back ater i thought about it. But i did help alot of people while i was there, see i know how it is to be pastdue or have my accounts charged off because of events that came up. I probably will get crap from MBNA for saying all of this but anything to help other people...and they should have let me come back! Dont give up, as long as you are paying them 2.25% they cant do anything to u!!!! good luck!

The only thing this term means in a credit card offer is that the rate won't automatically change if Mr. Greenspan changes the "prime rate". The company can still change the rate on you anytime for any reason at all, or no reason. I've read that if you don't like the new rate, you have a period of time to send a written demand that they reset the rate to the old rate and close the account, "locking in" the prior terms. The only certain defense against credit card tricks is to always be able to pay the balance off within a few months if necessary. Credit cards are not suitable for long-term borrowing.

I dumped MBNA Oct of last year. I had some negative items on my credit report that they decided to overlook when they approved me for 13.99%. After I had a balance of $5000.00 they changed it to 23.99%. They way they make their money is to lure you to transfer your balance to their "low interest intro offer" My was changed when I started to pay DOUBLE min payments. The fact is they NEVER want you to pay of the card, so you can only pay the interest, never touching the principal. I escape those bloodsuckers by having a loan from my bank paid of the balance in full. They refused to close they account after receiving the check resulting interest on a $0.00 becoming a final bill for almost $60.00. It took over 1 hr on the phone to have them close my account. They said they would lower my interest to the old apr. I told them it is too late and you have what you wanted which is your money and it was a displeasure to do business with you. Next time it would be wise to check the terms and make sure it is a "fixed rate" credit card. Go to classaction.com their is a lawsuit for deceptive practices with their low apr cards. Hope this helps. Good luck.