MBNA America ripoff Wilmington Delaware

As a former employee who suffered through many years of employment there no on hates them more than I do.

What you did not do is read the agreement (ie. legal document) stating the actual terms of the loan you utilized. DON'T EVER utilize anything without reading all the paperwork that comes along with it. A

ll credit companies reserve the right to raise or lower interest rates, at any time for reasons based on you credit history with all of your credit account and any other information in your credit report.

These companies state that quite planely in their agreements. In other words fixed is fixed until/unless your credit history sends up a red flag of some kind.

"For life" is also a misnomer as it can mean the life of the loan, life of the original loan, or life of the current federal reserve prime rate and only the loan agreement will tell which it means. (of course that is not what is stated in the BIG LETTERS on the offer for credit!one of the many reasons I hate companies like this, but all credit companies do this)

You have to read the fine print...become an educated consumer...and remember if it sounds too good to be true it probably is. The worst thing you can do in this situation however, is place the entire blame for not reading the agreement on someone else.