I need some input with dealing with MBNA to get them to lower the interest on my cards. I have two cards ....one MC 19.9 and one Visa 16.9. I've written them three times requesting for them to lower my interest rates so that I can pay my debts without having to possibly filing for BK in the future. They keep writing me back to call them and discuss the matter. I've heard and read that one should always write to the cc people instead of calling them.... because when you call they tape your conversations and can use that if need be in a possible lawsuit in the future. They can also make you make unthought decisions over the phone and you don't have anything in writing from them. Should I keep writing to them until they finally give in and reduce the interest rate? or should I call them?
I just spoke to MBNA today and they lowered my rate over the phone. I would definately call if that is what you want but I am not one of the experts and maybe they will tell you something different. Went from 18.9 to 13.9 with 5 months at 5.9.
We have an MBNA person on the board. Wait a few perhaps she will post an answer to your message. MBNA is actively trying to avoid defaults by working with their cardholders who are in trouble.
Also try planetfeedback I got a 500 increase by using them.I wrote to them for like 2 yr 000,but in a week time I got my 500 limit. so try it for your rates !
Last month I spoke MBNA customer service and they got my 2 card to a lower rate. Quantum Card: 13.99%-->11.9% Barnes & Nobles Card :13.99%-->10.99% They also increased credit limit : Quantum Card :$10,500-->$11,100 Barnes & Noble Card :$5500-->$6500. in two months. Ron.
