- Report: #224015
Complaint Review: MBNA Bank Of America - Baltimore Maryland
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MBNA Bank Of America
Pobox 37291 Baltimore, 21297 Maryland, U.S.A.
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MBNA Bank Of America deceptive, possibly fraudulent changes to cardholder agreement, jacked my rate up 500%, during merger Ripoff Baltimore Nationwide
I just found out today that my 'promotional' interest rate went from 3.99% to 19.98%, an unknown number months ago.
I was told this was a result of MBNA merging with Bank of America.
The customer service rep told me they sent me a letter 'asking' if this was okay, and telling me that if I didn't answer, the rate would go up. I never got such a letter.
During phone calls, I was told the new rate became effective in June 2006. Then I was told it happened in March 2006, January 2006, April 8 2006, and December 2005.
I have always paid my bill on time, and usually more than the minimum amount due.
This has cost me over $6.00 per day for months.
Michael
Santa Barbara, California
U.S.A.
I was told this was a result of MBNA merging with Bank of America.
The customer service rep told me they sent me a letter 'asking' if this was okay, and telling me that if I didn't answer, the rate would go up. I never got such a letter.
During phone calls, I was told the new rate became effective in June 2006. Then I was told it happened in March 2006, January 2006, April 8 2006, and December 2005.
I have always paid my bill on time, and usually more than the minimum amount due.
This has cost me over $6.00 per day for months.
Michael
Santa Barbara, California
U.S.A.
1 Updates & Rebuttals
Mooky
Newark,New Jersey,
U.S.A.
PROMOTIONAL MEANS there is a time period on the rate
#2UPDATE Employee
Sun, March 18, 2007
SIMPLE.. Promotional rate means it last for a certain time, this had nothing to do with the merge. If you cant maintain your account with the current apr, ask for a reduced payment plan.
