MBNA World Points Platinum CC going to variable APR.

[FrustratedUser]

I've had this card for a year or so I belive. My APR has been 7.9%. I never carry a balance (except once). I use it for all purchases.

Now I got this info from them yesterday that they are moving to a non-fixed rate APR.
WTF is up? Has anyone else with a MBNA CC got this?

Are they punishing me for paying off the card every month. I belive they haven't made any money on me, maybe around $25 in interest at the most.

???

 

[Ameesh]

my quantum card is staying the same

 

[dullard]

If you rarely carry a balance then why would you care? Forget about it, and go on with life.

And yes they probably make a fortune off of you. They make roughly 4% of each purchase. If you charge $100 in a store, you pay $100 to the CC company and they pay $96 to the store, pocketing the other $4. Multiply this by the number of purchases you've made, and you can see they possibly have made a killing of of you.

In 10 years with a CC I've charged nearly $100,000. That 4% would add up to $4000 they've made from me alone (minus small expenses).

 

[puffff]

Originally posted by: FrustratedUser
I've had this card for a year or so I belive. My APR has been 7.9%. I never carry a balance (except once). I use it for all purchases.

Now I got this info from them yesterday that they are moving to a non-fixed rate APR.
WTF is up? Has anyone else with a MBNA CC got this?

Are they punishing me for paying off the card every month. I belive they haven't made any money on me, maybe around $25 in interest at the most.

???

i havent gotten any letter saying my APR is changing.

i wouldnt really care either, i pay off my CC every month, so it wouldnt affect me.

 

[FrustratedUser]

Originally posted by: dullard
If you rarely carry a balance then why would you care? Forget about it, and go on with life.

And yes they probably make a fortune off of you. They make roughly 4% of each purchase. If you charge $100 in a store, you pay $100 to the CC company and they pay $96 to the store, pocketing the other $4. Multiply this by the number of purchases you've made, and you can see they possibly have made a killing of of you.

In 10 years with a CC I've charged nearly $100,000. That 4% would add up to $4000 they've made from me alone (minus small expenses).

Well yes, but it's annoying and on top of that I got an offer from them for the exact same card but 5.9% APR.

 

[Ranger X]

Who cares if you pay it off each month? Just be happy that you're getting 10% back on all purchases until June 2005.

 

[FrustratedUser]

Originally posted by: Ranger X
Who cares if you pay it off each month? Just be happy that you're getting 10% back on all purchases until June 2005.

No I am not. That is for a different card AFAIK.
If this is not the case then clue me in plz. 10% back is HOT!