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mbna change in terms


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#1 vivyip

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Posted 14 May 2005 - 07:24 PM

from wizard at fatwallet

QUOTE
I have a MBNA WorldPoints card and just received an "Important Amendments to Your Credit Card Agreement" letter. I wanted to see if this was an universal change or if these changes were specific to my account.

To summarize...
(1) They're changing my fixed 9.9% APR to a variable rate currently at 12.99%.
(2) Increasing the default APR pricing.
(3) Changing the grace period for purchases.
(4) Enacting a 3% Foreign Transaction Fee which used to be non existant.
(5) Increasing the minimum & maximum Transaction Fees for Cash Advances and Cash Equivalents.
(6) Increasing the Late Fee to $39 for all balances instead of the tiered balance pricing.
-and-
(7) "Your WorldPoints account will have an air travel Points Redemption Fee of $24.95."

Most of these changes will take affect beginning in May and as late as August. I looked up the current terms on MBNA's site for the WorldPoints card but they had not changed and there was no notice of impending changes.


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#2 markber

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Posted 14 May 2005 - 08:09 PM

Many people also reported here that MBNA will be introducing annual fee for many of tis credit cards

#3 INGDollars

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Posted 14 July 2005 - 02:26 AM

QUOTE(markber @ May 14 2005, 04:09 PM)
Many people also reported here that MBNA will be introducing annual fee for many of tis credit cards
View Post



They've also declared that beginning in September they will end the "extended warranty" benefit on their Platinum Plus MasterCards.

#4 haha0550

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Posted 02 August 2005 - 02:30 AM

MBNA is never a good credit card company for the customer. I never own any of their credit card. Those small player will always try to set a trap and hopefully you did not pay attention. I really hate their business approach. I think the best credit product is from those big money center banks, like citibank, chase. from time to time you may find good deal from discover or Amex. however, before you apply MBNA, make sure you see all their terms. I personally had very bad experience with them, none of their so called "promotional" offer is a real promotion. Don't get fooled.





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