• Report: #238659
Complaint Review:

MBNA Gold Option

  • Submitted: Fri, March 09, 2007
  • Updated: Fri, March 09, 2007

  • Reported By:Lancaster South Carolina
MBNA Gold Option
100 N. King Street Wilmington, Delaware U.S.A.
  • Phone:
  • Web:
  • Category: Loans

MBNA - Bank Of America ripoff False advertisement changed APR immediately and Liars by phone Wilmington Delaware

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I have been a member of MBNA for many years. I received "Gold Option" checks in the mail. It was advertised fixed rate for the entire length of the loan...5.99%. This seemed a crazy.

I called to confirm what was advertised. I was told the rate was fixed and would be for 72 months. The only thing that could change this was a late payment. I completed the transaction the same day by phone.

After the first or second bill, I noticed the rate had increased to 14.99%. I called and asked them about this. The said it was never a fixed 5.99% "loan". They don't do loans.

In other words; someone lied to me. The monthly payment never increased, only the length of the "loan". Just recently the APR increased again. I have called several times and it does no good. I am at the end of my rope...Please help!

Lancaster, South Carolina

This report was posted on Ripoff Report on 03/09/2007 10:48 AM and is a permanent record located here: http://www.ripoffreport.com/reports/mbna-gold-option/wilmington-delaware/mbna-bank-of-america-ripoff-false-advertisement-changed-apr-immediately-and-liars-by-pho-238659. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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