Why Not to do Business with MBNA
Just got a taste of something that some credit card companies are doing. It’s a nasty thing, and MBNA (or MBNA America — I forget what the full name is) is one of those doing it.
(It’s actually an Ohio Savings Bank card, so I have to say that Ohio Savings Bank is just as bad.)
Here’s what’s what: I have a Visa card with Ohio Savings Bank/MBNA. Interest rate was 12.9%. I never missed a payment.
Then, without warning, I saw that my interest rate had — I kid you not — doubled. MBNA just raised my “fixed” rate without telling me.
Why?
Because MBNA is one of those nasty companies that will raise your rate if you miss a payment with someone else. (In my case, I assume it was the power company — we missed a payment when we moved from Columbus to Roanoke.)
In other words, even though I’ve always been a good MBNA/Ohio Savings Bank customer, I’m being punished because I missed a payment with another company.
If you’re an MBNA customer — or an Ohio Savings Bank customer — I strongly urge you to A) check your statement carefully, and B) find another credit card company. One with better ethics.
unbeliever says:
Just with “other companies?” Aren’t you forgetting something? If you want to be Really honest, tell the whole story.