MBNA Offer

Avatar for travinski
iVillage Member
Registered: 05-21-2004
MBNA Offer
5
Wed, 02-23-2005 - 6:52pm
Remember how I told you MBNA was offering 5.5% of your balance. Well actually, it's more of a loan. They will pay off your card and if you pay it all back in one year, it's 5.5% interest. I picked five years at the rate is 10.9% which is still better than 19.9%. The balance is a biggy!

Travi

 

iVillage Member
Registered: 08-15-2004
In reply to: travinski
Thu, 02-24-2005 - 10:41pm
Is this some sort of consolidation loan to pay off other cc debt? I've gotten some offers similiar and wonder if I should go for them??
iVillage Member
Registered: 04-02-2003
In reply to: travinski
Fri, 02-25-2005 - 10:01am
Be careful with MBNA. I previously had an account with them. Although they indicate that rate is fixed, there is a great likelihood that they will try to increase it. You can usually decline the changes as long as you agree not use the account. I hope it works for you, just be careful with them and watch your mail for any correspondence. I personally refuse to ever have another account with them. I paid mine off over a year ago.
Avatar for mahopac
iVillage Member
Registered: 07-24-1997
In reply to: travinski
Fri, 02-25-2005 - 10:39am

I agree with that! MBNA has been one of the most difficult of my creditors. When this account is paid off, I will NEVER deal with MBNA again.

Kelly

iVillage Member
Registered: 12-07-2003
In reply to: travinski
Fri, 02-25-2005 - 11:06am
Yup, MBNA does some pretty underhanded things in my opinion too.
iVillage Member
Registered: 12-05-2004
In reply to: travinski
Fri, 02-25-2005 - 12:49pm

I wonder if MBNA has various divisions or something. Our bank sold our credit card agreement to MBNA, and I have had no problems with them at all. They have honored the original agreement I had with the bank (Prime rate fixed), and have been great about crediting payments without delay and such. So I wonder if MBNA has a seperate division that just handles these types of cards. I always get good customer service on the phone when I need to talk to them, with the exception of when I wanted to cancel our credit insurance that was a complete waste of money. LOL! :-D

Pat