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MBNA Intrest Rate Increase King

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Robb212

Guest
What is the name of your state? What is the name of your state? Florida

We got a teaser rate from MBNA of 1.9 percent for balance transfers. We transfered 25,000. We were three days late on one payment, so they say. The next month the intrest rate was jacked up to 30.09 percent.

Has anyone else been ripped by MBNA like this?
 


bigun

Senior Member
Yep, MBNA, CITI, you name the card company and that'll happen if you're ever late on those teaser rates. But, 30% is a new one. Are you in trouble on other cc accounts Do you have other cc's maxed out? MBNA does very frequent account reviews and when they see someone in trouble, they show no mercy. I really hope you have a place to bt this load if you can't convince them to give you another chance.
 

Ladynred

Senior Member
30% is hideous.. but MBNA jacked mine up to 35% when I got so far behind there's no catching up ! So, how do they figure that jacking up the interest rate on someone having problems paying the pre-jack-up rate is going to help ?? All that does is make it harder for people to make payments because the minimum payment goes up as well.. its insane !


Believe it or not, my fiance had a gas card that was charging him a whopping 46% interest.. that's just plain theivery ! Needless to say he called them, they refused to lower the rate and he told them to stuff the card and cancelled it on the spot. The bank was in Delaware, of course, where they have no usuary laws to stop that kind of ludicrous rate.. and that's also why so many banks are incorporated in DE.. so they can get away with this sort of thing !!
 

dncr

Member
When I was way over my limit on my MBNA card (oops), they were really nice...they waived the over-limit fee for like six months to help me get it taken care of. Of course, at the time I was making my payments on time, so that probably helped. Sometimes if you ask for help, these companies will help you out...anything to keep you from filing bk!
 

Ladynred

Senior Member
I've asked.. and all they can say now is ' pay us ALL of it and NOW'.. they don't care, they're into bullying and intimidation at this point. After being out of work for almost 4 months and I was slightly behind before the layoff, its nearly impossible for me to catch up. I added it up.. it would take about $5000, CASH, to catch up with all but one.. and I don't have it, have no way of getting a sum like that either. I'm working, but its contract work, so it will end and I could be right back on unemployment again. My attitude now is getting ready to file for BK so MBNA can just K.M.A. !
 
J

joshuaadvant

Guest
My experience with MBNA was not adversarial either, even though I owed them over $50K. They called a lot but I rarely returned their calls, however when I did they were not rude.
 

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