MBNA WARNING!!!!
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| Thu, 12-09-2004 - 2:37pm |
FYI for anyone who has an MBNA account. If you saw my last post, my rate is now up to a whopping 27%.
Well, I did their notices in the mail about raising the rates, but I did NOT read that it was going VARIABLE.
So, not only did it go variable (prime is at a VERY LOW 5%), they said my account was in "review" so I got a double whammy within a month. My APR is prime + 21.99% and the woman couldn't understand why I'd want to close it as they may review my account and lower it. Um, hello. I have NEVER seen it go down in the 7 years I have been with them, EVEN when my account was over half empty. BLEAH. And if rates go up, as in PRIME rates, no matter what, mine will go up. I remmeber back in the day when Prime was at 12-15%. Can you imagine my APR then?
And lastly, closing down my account will NOT lock in any rates. BEcause it's variable, it WILL still flucutate. Although, they CANNOT raise the base 21.99%, so that's good. I KNEW I should've denied their "raise" and just shut down my account when it was only at 20%. AUGH.
I HATE THEM! I HATE THEM! I HATE THEM!


Thanks for the information, now I understand my MBNA account a little bit better too. I'm happy that I just transferred $5900 to a 0% for 12 months card and I only have $2327 left to pay them. I will definitely be snowballing anything I possibly can to that card as well as making the exact minimums on others to apply anything extra that I possibly can and be done with MBNA. I agree, they are NASTY!!!!
~leanne
I do appreciate the information. Thanks!!
~leanne
deciding to be happy doesn't mean that everything is perfect, but that you had decided to look beyond the imp
~leanne
~leanne
deciding to be happy doesn't mean that everything is perfect, but that you had decided to look beyond the imp
That's what I keep saying too. =)
DEfinitely emotionless robots over at MBNA.
When the lady asked me why I was closing it, I was like, "um, because that rate is simply outrageous. I may