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Stay Away From MBNA!!!!!

Date: Thu, 08/04/2005 - 18:18

Submitted by anonymous
on Thu, 08/04/2005 - 18:18

Posts: 202330 Credits: [Donate]

Total Replies: 7


Stay far away from anything that MBNA has to offer! I got a Visa card from them with a low 2.99% introductory offer for six months. After that, it went up to 10.9% fixed rate. Everything's cool. About six months from that I receive a letter from them saying that they were going to increase my interest rate because they looked at my credit report and said I had too much credit. They raised it to 14.9%. A year went by, and I received another letter stating they were going to change my Visa card to a variable rate because they looked at my credit report again. It is now at 20.9% interest! My service charges are almost as much as my minimum payment! And to top it all off, I have never paid any of my bills late, and I have always paid more than the minimum payment! On all of my bills! I have great credit! I am in the process of paying off their %$^&*@# card, and then leaving them in the dust. But I'm going to make sure the world knows the ripoff that MBNA is! Thanks for reading!


these credit card companies makes billions of dollars doing these scams on unspuspecting consumers. I wish there was a way to put a stop to all this. I am sure going to try and use the power of the internet to put a stop to this robbing of the consumers by the credit card companies.


lrhall41

Submitted by on Fri, 08/05/2005 - 05:21

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MBNA isnt the only company that does this. They all pretty much do this. My suggestion for anyone who is on this post is to try and save up and get a secured credit card. NOT a debit card, but secured. Most companies offer them and you can send in say..$300 that is your credit limit. Make sure that you find a company that will report to the credit bureaus. that will help you credit.


lrhall41

Submitted by vwh on Fri, 08/05/2005 - 06:44

( Posts: 124 | Credits: )


IWantMoney4Me - the sooner you clear this debt, you will be able to improvise your credit file. As you tried on your own making the payments, you should also consider consolidation programs. These programs will reduce the total debt by cutting the financial charges, late fees that have built on it. Thus, you will have to pay a lower amount of your debt and the best point is the affordable monthly payments on part of the consumers.

Please read this page in order to know the benefits of the debt consolidation program:

http://www.debtconsolidationcare.com/benefits.html


lrhall41

Submitted by ben on Fri, 08/05/2005 - 16:14

( Posts: 2034 | Credits: )


yeah, and if you ever fall behind and expect them to understand, boy do you have another thing coming. They are unreal to work with---will not talk to you---will not answer your letters---basically ignoring you while you're asking for a little help so things don't get bad for either of you.---they will ignore you right up until 'charge off' time. They WILL NOT work with you. I haven't had a good experience with them at all.


lrhall41

Submitted by imkimssister on Fri, 08/05/2005 - 17:22

( Posts: 1301 | Credits: )


Quote:

The best credit card to get is a debit card from your bank...that way, you're not spending money you don't have!


I tried using only debit card but I guess I was habituated by that time. Life without credit card looks a little impossible at this stage for me but I am very careful with payment.

A careful budget helps me maintain a healthy pocket.

Vikas


lrhall41

Submitted by Vikas on Mon, 08/08/2005 - 08:44

( Posts: 2019 | Credits: )


Actually, debit cards arent that great. I have found that if you dont keep up with your charges to the penny you can overdraft your account. My suggestion is to get a secured credit card. It is like a debt card that it is secured, but most secured credit cards report the credit bureaus and are a great way to rebuild your credit.


lrhall41

Submitted by vwh on Mon, 08/08/2005 - 08:44

( Posts: 124 | Credits: )