Just Cancelled My Account
Written: Mar 13 '03
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Pros: No annual fee
Cons: BT offers at too high fee and too short a term; poor customer service
The Bottom Line: I will never do business with MBNA again. I have no use for such an unscrupulous company with no regard for their customers.
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| susiepooh's Full Review: MBNA Platinum Plus (Mastercard and Visa) |
I had a platinum card with MBNA for many years with no problems whatsoever. I charged, I paid my bill on time and always more than the minimum, they raised my credit line periodically, and I had a good interest rate compared to others I had.
I was continually receiving balance transfer offers from MBNA, asking me to use my $6,500 credit line. But the offers were for anywhere from 3 to 5 months and with a $50 fee. It hardly was a bargain to transfer it when the regular interest rate wasn't better than another card.
I called customer service and asked if they would waive the transfer fee and/or if they could offer a longer term for the balance transfer lower interest rate. They would not do anything. That's their choice.
Just yesterday (about a month after this) I received an offer in the mail for the AAA Platinum Plus card, also run by MBNA. Excellent interest offer and 0% intro rate for a year. I called to apply, hoping to do some balance transferring. When they were looking over my credit report (which has good credit, but numerous cards with balances), the customer service rep started grilling me about what I did with my money, what I charged, etc. I thought the questions were intrusive, but I was polite and answered what I could in general terms. She finally says that not only does she have to decline the application, but in reviewing my credit report and seeing how many balances I have, she must lower the credit line on my other MBNA card to $500 -- that was a $6,000 decrease! I have not had a late payment on any credit card in well over 10 years. I pay more than my minimums, so I was shocked. I told her she could cancel the card rather than lower the credit limit.
I called my card's customer service number to ask about this and confirm it was cancelled. They sweetly asked why I cancelled it, and I calmly and politely explained what happened and how I don't wish to do business with a company that treats long time customers like this. Their reaction was along the lines of "too bad this happened like this." Apparently my terms of service allow them to periodically "monitor" my credit report, and if they don't like what they see, they can penalize me.
I feel that the offer I received in the mail for the AAA card was a trap that I fell for, and one that ultimately cost me a $6,500 credit line on another card while marking my credit report with a card denial. I found them to be an unscrupulous company with no care for customers, and I will never do business with them again.
Recommended:
No
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Epinions.com ID:
susiepooh
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Reviews written: 2
Trusted by: 1 member
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