SUBMITTED: Saturday, May 31, 2003
POSTED: Saturday, May 31, 2003
1. I had two different accounts with MBNA, paid them on time, and both times they made life difficult for me for months after the accounts were paid in full.
2. In the competitive credit card and consumer loan industries, low rates are what attract customers.
3. When some companies sign you up at a certain rate, they already program their systems to increase your rate at a given time. When you call and scream, they'll tell you they no longer offer that rate, or you no longer qualify for the lower rate. Often they make the excuse that your credit score has changed.
4. If you don't want to be screwed, stay away from MBNA, Capital One, Providian, Direct Merchants, and Fleet. They all play the same miserable games. In fact, I know of one case in which a senior officer of Fleet left to run Providian.