Damn, MBNA 'screwed' me on low CC rate.

[FrustratedUser]

Heh,

I got this MBNA World Points Platinum Plus CC card @ 7.9%. I use this card for everything to earn 1% cash back. (You need over 20000 points, before that it's 0.8%)

Anyway, I got a new offer from them for the exact same card but with 5.9% instead. I called them up and asked if they could give me the lower rate on my old account.
MBNA - 'No, we can only offer 7.9% on the current account'
Me - 'But why do you send me an offer for 5.9% and make me apply again for the same card?'
MBNA - 'I understand what you mean but I'm sorry we don't do that.'


Is this normal? Did MBNA $uck this time?

 

[MikeMike]

cancel, resubscribe w/ that card.

MIKE

 

[Phokus]

Can't you just cancel your old card and reapply for the new one? Also, watch out, the new one might have some loopholes that allow mbna to raise your interest rate anytime they want to.

Edit: And maybe even threatening to cancel might encourage them to give you the new rate.

 

[Ameesh]

mbna is good

 

[DaveSimmons]

Don't carry a balance, then your rate is 0.0%.

I have no idea what any of my CC rates are, nor do I care since I never pay finance charges.

 

[StageLeft]

Originally posted by: Ameesh
mbna is god

agreed!

 

[dullard]

Originally posted by: DaveSimmons
Don't carry a balance, then your rate is 0.0%.

I have no idea what any of my CC rates are, nor do I care since I never pay finance charges.

Agreed. Read this over and over and over again. Keep reading until you agree with it.

I really dislike MBNA (although I have one of their CCs) - but lets not make this a political discussion.

 

[FrustratedUser]

Originally posted by: Ameesh
mbna is good

Yes they are, I was just confused.


I don't want to cancel this card since it is the oldest I have and it's good to keep it. It's my longest credit on record.


I usually don't carry a balance anyway but I might consider bying a used car on the CC and 5.9% would be sweet. (Old caddy for less than $4k )

 

[ggavinmoss]

Same thing happened to me. They wouldn't budge -- I got over it.

-geoff

 

[RossMAN]

Same thing happened with me my wife and CitiBank.

Received offer for 0% APR for 9 months, then two weeks later another 0% offer but for 18 months!!!

 

[Vic]

Originally posted by: DaveSimmons
Don't carry a balance, then your rate is 0.0%.

I have no idea what any of my CC rates are, nor do I care since I never pay finance charges.

:thumbsup:

 

[mikebb]

Originally posted by: FrustratedUser

Is this normal? Did MBNA $uck this time?

No it is not normal for them not to accomodate you, provided you are a good customer.

Citibank did this to me. They raised my APR from 7.9 to 11.9 with no reason, just a letter saying they were basically raising rates across the board (I've never been late, I carry a balance from month to month, been with them 5 yrs, an ideal customer.). Meanwhile, I keep getting card offers in the mail, FROM THEM and ohers, with 7.9 APR.

I called them and advised that I'd be taking my business elsewhere and transferring my balance to another brand card, and they happily dropped my rate back down.

 

[Cat13]

Originally posted by: DaveSimmons
Don't carry a balance, then your rate is 0.0%.

I have no idea what any of my CC rates are, nor do I care since I never pay finance charges.

I do the same. I just use my card for reward points. Pay all my bills with my cc, then as soon as the transactions post, they get paid off. At the end of the month, 0 balance, but tons of reward points

 

[orakle]

mbna, or at least mbna canada is a bunch of asshats. they call my house like every two weeks trying to get my old man to sign up for stuff

 

[jadinolf]

Originally posted by: DaveSimmons
Don't carry a balance, then your rate is 0.0%.

I have no idea what any of my CC rates are, nor do I care since I never pay finance charges.

I'm in the same boat as you.

I've been with MBNA since '95 and never paid finance charges.

Just looked up my interest rate.... 12.9%. Great incentive to pay it off every month.

 

[FrustratedUser]

Originally posted by: mikebb

Originally posted by: FrustratedUser

Is this normal? Did MBNA $uck this time?

No it is not normal for them not to accomodate you, provided you are a good customer.

Citibank did this to me. They raised my APR from 7.9 to 11.9 with no reason, just a letter saying they were basically raising rates across the board (I've never been late, I carry a balance from month to month, been with them 5 yrs, an ideal customer.). Meanwhile, I keep getting card offers in the mail, FROM THEM and ohers, with 7.9 APR.

I called them and advised that I'd be taking my business elsewhere and transferring my balance to another brand card, and they happily dropped my rate back down.

I might do that but I have accumulated just short of 20000 points with them now and it is my oldest card with the best benefits so I really do not want to drop them just like that.
As I said before I do not carry a balance, well maybe something in the order of $50 now and then.

 

[Mill]

Originally posted by: Vic

Originally posted by: DaveSimmons<BR>Don't carry a balance, then your rate is 0.0%.<BR><BR>I have no idea what any of my CC rates are, nor do I care since I never pay finance charges.

<BR>:thumbsup:

It isn't just that though... I have a 12.99 fixed rate, but the card I have is supposed to have a 5.9 % fixed rate. Unforunately they won't give it to me because my card was converted instead of applying for that card. It isn't that people are going to carry balances, but nice to know it is there if you need it.