- Report: #22807
Complaint Review: mbna - Wilmington Delaware
-
Author Not Confirmed
Why?
mbna
p.o. box 15019 Wilmington, 19886-5019 Delaware, U.S.A.
Phone:
800-362-6299
Web:
N/A
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
MBNA is a deceptive ripoff company, they have excessive interest rates that are raised with no warning even though all payments on time. Wilmington, Delaware
I have had accounts with Mbna for a number of years. They purchase accounts from other bank as well. I am 59 years old an am trying really hard to get my financial situation in order. Due to college tuition and a divorce my debt is high and I am working hard to pay it off. I contacted mbna regarding an account that is 24.98%! It is not late nor has been. I originally obtained this card through a bank in 1975 at a very low rate. It was sold to another bank and the rate went up slightly 12.99. Mbna purchased it and the rate now is ridiculous.
I called today and spoke to a woman who asked me about my job, personal info etc. I explained that I needed them to lower the rate and I was told that could not occur on my account due to the high debt that I have. I think they pulled a credit report right then, and i did not give them permission to do it. I stated that this made no sense- that to help people and get their money why would they not assist. She stated that MBNA does not negotiate rates. A few months ago I did get one lowerd from 22% to 18.99- Great huh? How can they do this? I pay my bills and do not understand. I feel like the whole conversation was deceptive leading me to believe that they could help with additional info from me. What does a consumer do? How can I fight this?
Elaine
Oakton, Virginia
I called today and spoke to a woman who asked me about my job, personal info etc. I explained that I needed them to lower the rate and I was told that could not occur on my account due to the high debt that I have. I think they pulled a credit report right then, and i did not give them permission to do it. I stated that this made no sense- that to help people and get their money why would they not assist. She stated that MBNA does not negotiate rates. A few months ago I did get one lowerd from 22% to 18.99- Great huh? How can they do this? I pay my bills and do not understand. I feel like the whole conversation was deceptive leading me to believe that they could help with additional info from me. What does a consumer do? How can I fight this?
Elaine
Oakton, Virginia
1 Updates & Rebuttals
brian
baltimore,Maryland,
apr
#2Consumer Suggestion
Wed, November 06, 2002
your apr is directly related not only to how you handle the individual account but also the amount of debt that you carry. If your debt to income ratio is high (every bank hs their own ratio) then that can represent a credit risk & therefore you will be charged a higher rate to offset any type of inabilities to pay. Credit card companies can pull a credt report on you if you have an open acct. They can do this because when you originaly signed for the card you agreed to this. Its these little things that most of us are not aware of & find out the hard way. Good luck!
