MBNA - "The Bend You Over and Prison Fuck You Credit Card Company"
So I got a junk-mail looking letter in the mail from MBNA (my credit card company) and decided to open it. It revealed a little pamphlet titled: "Important Changes to Your Credit Card Account", with subtitling of: "Changes in Terms document", "Summary of what's changing", "Tips for managing your account", "Take advantage of these outstanding benefits". Now, who the hell would read this junk, right? Well, I decided to read it because MBNA pulled this shit on me 8 months or so ago...Opening the pamphlet there is a bunch of jibber jabber about "Tips for managing your account", then under "Summary of what's changing" is this:
"We are changing your annual percentage rates. These are labeled (APR Change) in the enclosed Change in Terms document. You do not have to accept these APR changes; please see the enclosed instructions"
Then you have to pull out the Change in Terms document and read through the 3 pages of fine print and how to "not accept" a rate increase. Can you call? No. Can you email? No. Those options would be too easy! You have to write and mail a god damn letter! And, guess when it was due...YESTERDAY. You have to be f-ing kidding me.
SO, I call up MBNA, to find out what they think they are going to raise my APR to...Get this...from 9% (which they raised from 7% two months ago, because I threw away a junk letter like this one) to 24.99%!!! WTF?! Does the front of this pamphlet really say "Take advantage of these outstanding benefits"?! What a joke. Did I mention that I always pay my credit card bill on time?
So tomorrow I have to call the main office of MBNA - "The Bend You Over and Prison Fuck You Credit Card Company"
Rambled by Vicious Summer @ 2:18 AM
21 Shenanigans:
Holy Christ!! Lucky you read it this time, Summer. That's a huge increase. Why do they think anyone even would accept an increase?! They just threw that stuff in there to cover their asses and say they did offer a way out. Shows you how much they value their clients.
God damn sweetie! You gotta do like I do: CASH ONLY. Fuck them. (of course i still owe 25k on my truck... @ 18%...bastards)
I hear you, Tesco. I'm a cash only girl that only buys what I can actually afford. The credit card balance is from purchasing the stock for my stores. So it's really just a business expense...I'm sitting in a room filled with $10,000 worth of lingerie ;).
I called MBNA today and they decided to be "nice" and not jack up my interest rate for no god damn reason. They are *so* good to me...haha
lmao! Subtle header, VS.
I also have an MBNA card, so when I saw your comments on the digital point forum, it prompted to me take a closer look at my card.
Sure, enough my so-called "fixed rate" interest was jacked up from 9.99% all the way to 20.49% in April. That's more than double! I'm like, what the he**.
It's 11:45 p.m... I called anyway, but of course the dept. I need to speak with is closed. I told the operator that my fixed card is supposed to be just that and I use it for my business.
If it's a fixed card, but they can change it whenever the hell they feel like, then they give me no incentive to do business with them.
Interest rates are still at all time lows... If I wanted a rate like MBNA, I could have gone to a loan shark.
I have a card through MBNA as well. They did that to me a few months ago. My APR was at 14% (not bad, but certainly not good either) and they doubled it to 28%. Then they tried to explain to me that I had a "fixed" rate, so that I couldn't lower it back. Funny how a "fixed" rate can go UP, but not down. Bastards!
VS, when you have bad credit or low cash flow the bankers always find a way to screw you, I know, as my business has gone down in the last 5 years the bankers have fucked me out of at least 5 thousand in service charges, the old saying is, the rich get richer and the poor get poorer. How do you think the rich get richer VS?
Off the poor!!!!!!!!!
Yep. Pretty crazy what the "big boys" can get away with. When I was talking to MBNA they told me that if I "refused" the increase then I wouldn't be able to use the card any more, like that was going to scare me into accepting a 200%+ rate increase. Please. Like I don't have every other credit card company humping my leg for my business...
Odale
Bank One/Chase jacked me last year too. Fortunately my card was nearly maxed out, so I just closed the account.
The reason they are doing this now is because a bankruptcy reform law was passed earlier this year. The new law makes it more difficult to declare personal bankruptcy. Hence, they can do whatever they want.
I have been a "menber" since 1988. With their 25% rate I have paid over $60,000 in interest. I just found (I know I'm late) a 30 day late notice that my credit report has had since April 1999. I called today and told them I had paid the balance on 4/05/99 and they said I was 1 day late. I said I would take legal action. The girl said I couldn't. Screw MBNA. My credit since then has cost me a lot more. HELP!!!!!
Yep. Credit card companies are like the government. The can do whatever they want. It's that stupid fine print that we never have the patience to read. The only solution is to stay out of situations where you rely on credit cards. When MBNA pulled this bs on me, I paid off the balance, gave them the finger and canceled the card. I bet they wern't expecting that, since that card had a $14,000 balance on it (I used it for business).
Please do this the next time you get a credit card offer. Take the envelope (postage is pre-paid) and stuff it with the heaviest paper around and let them pay the .39+postage on that envelope!!!
What are you talking about "Can you call? No. Can you email? No." MBNA has plenty of numbers all over to contact them. Oh and do you just like to bitch or do you realize its Bank of Americas fault?
It's always the "anonymous" comments that are the stupidest. Read the post again, then ask your mommy to explain it to you...;)
Hey! Having been hosed by these bastards like some of the others here (and about 34% of all Americans it's roughly estimated) I appreciate all the love we're feeling for the high priests of finance that have a mandate from the "PA Ave. Purchased Patsy" (read one of the largest contributors to his campaign) to hose anyone they can trap.
Like Summer, I used my Fleet CC solely for working capital while getting my computer consulting bus off the ground. %8 was cool but of course they found cause (read their universal default bullshit) to jack the rate to 26%+ when Citi made mistake on closing a credit card account I was dumping and then said I was 30-60 days late on payment. Funny how you can be late on paying an account you closed out in full by giving the rep a check over the phone. Must be the new financial accounting methods.
And of course getting through to someone to discuss the issue became conveniently impossible as in five phone calls were refused to be transferred to a manager and two letters went unanswered.
Be aware now that the CC industry has lost their congressional control via their bought patsies some long over-due do-do is pinging the paddles.
Senator Levin of Michigan and the Permanent Sub-Committee for Investigations worked these asses over pretty good in early March 07.
I called Sen. Levin's office' and they're interested in hearing stories of how the CC companies have hosed someone. I'm sending over my happy tale this week.
Anyone who cares to share the love can fax their tale to 202-224-1972.
I'm not real keen on government regulation but good gosh I would like to see these bastards reamed and gored. That movie "Phone Booth" sure piques ones thoughts. ;-)
what do you expect from a weak, sheep like population in America? you all take it in the behind and do nothing about it.
They onyl get away with it because people allow them to.
I purposefully lower my credit score a smuch as I can, because it shows just how much i give a crap about credit cards and jobs who hire you based on your credit.
Did you know credit can actually make you pay higher CAR INSURANCR? That is a sytem i wil lnto support, nor will i support anyone who supports that system.
That really is the dumbest thing I've read in a while. You purposfully ruin your credit to show that you arn't a sheep? Yeahhhhhhhhh...You should run for president dude...
I too am saddled with overburdening credit card debt...so I tried something different. I said "fuck these assholes" and stopped paying OR communicating with them. "But Jake, don't you need good credit?" No! I bought a house already, and I buy used cars. I will never finance anything again, and I own my own business. It feels great to fuck these evil corporations that might one day put a chip in our foreheads with our credit history in it.
Good old MBNA, or should I now say , Bank of America. Last year I took advantage of one of their 1.9% offers. When it ended, my rate went to 17.23%, I about fell over. I've paid that for a few months, today I called to see if I could get my rate lowered, the rep. said, "Well actually your rate has gone up, I can't give you any lower rate. We sent you a notice about this." I asked, when? He said about 3 months ago. They raised my rate to, 26%, I'm still in shock.
I asked for what reason. He said the company looked at my total debt, and figured that was a reasonable rate to charge. I told him that they obviously don't want my business. He responded, "they aren't doing it to punish you. You could do a debt consolidation loan."
This is totally uncalled for!!
I always pay on time and never the minimum payment! My credit score is 700, and nothing negative on my credit report. My credit report says, pays as agreed, never late. Absolutely, no negative marks.
Credit card company's can be a real pain. The sooner all of us get out debt, ... the better off we'll be.
The plan in America is to get everyone hooked on credit cards and keep them working their asses off at some meaningless job for the rest of their lives to pay them off! That way it keeps them off the streets and not revolting. Well, I got news for them, a ground swell is building and pretty soon the dam will break and capitalism will come falling down! A Communist and damn proud of it!
Well, I am going to fuck my credit card companies all 13 of them! I am going into Debt Negotiation and in 3 years I will pay off 23K US in debt. They will be lucky if they get half what I owe them. I am using anonymous as it might injure my chances if they saw this posting. Check it out on your search engine. Lots of reputable companies will work to get you out of debt for 15 percent of the total and you then pay them a fixed amount you can afford for three years. So cool it is.
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