I am offering this service to any card holders that have an MBNA credit card that is charged off through mbna. MBNA has a service through their recovery department called "The New Beginners Program" This is a program where if account is charged off and you pay 50% or greater of the balance, you can ask to be inrolled in the program. How does it work: You pay 50% or greater of your charge off balance. They MBNA will give you a card with a small balance of like 2000. So, now you have your charge off paid, and your still able to rebuild with mbna. The catch is: If you even become 1 payment behind, MBNA will automaticly close your card and youll be back in bad stadinding with them. They may never open one for you again, well maybe yearssss down the line. So: NO other bank offers this service. Who whould give you a credit card after you screwed over a credit card company like that? MBNA will, just ask! Also: If your account is delinqent and you want to go to CCCs( consumers credit counceling service) , if you have an account with mbna. MBNA has a inhouse credit counceling services. Best part: MBNA DOES NOT report it as CCCS. Advise: If you have CCCS reported on your credit file, you will be denied automaticly with mbna. That is considered negative with MBNA. Psugirl
Also, If you want to know more about the beginners program, contact recover department. Im not to fresh on ALL the details. psugirl
I'm curious as to your use of words here. I have an MBNA charge-off for about $6500 that is past the SOL. Lexington has disputed it for me on only one report (Equifax) but it got verified. I kind of figured when they dispute the other two agencies, MBNA will verify those as well. MBNA is reporting the date of last activity as 8-97 which is wrong by over a year. The real DOLA is in early 1996 when I made my last payment to them. Unfortunately I have a foolproof way to determine DOLA in my accounts. I moved back here to Las Vegas in January of 1996. The only obligation I had prior to 1996 that I have ever paid on is Discover card, so if any creditor has a date of last activity on any of my older accounts dated after January of 1996, they're lying. You say if I "...pay 50% or greater of [my] charge off balance." MBNA will "...give [me] a card with a small balance...". Does that mean that in my case if I paid $3250 in advance they would list the account as paid and give me a new card, or does that mean I could pay them nothing up front and have them issue me a card with a $3250 balance due that I would pay down over time?
Oops.. I caught a typo there and it's too late to edit it out. I actually moved in January 1997, so it's post-1997 DOLAs that are wrong, not post-1996.
Re: MBNA and BK A credit analyst i know actually approved a person for a loan after filing BK 2 years prior. Reason why? the analyst thought their was something strange about his entire credit picture. Called him up, the guys reason for BK was not because he charged up cc's and coundnt pay them back, he was a wealthy doctor that had this weard thing happen to them. Put, with LOTS of proof documentation of his story, he got the loan. so to answer your question, it depends on your situation, and the reasons that let to it, how your credit was then, how it is now! You would have to talk to them and find out, different strokes for different folks. psugirl
Re: MBNA and BK also marie, arent you the one that said that you have the mbna Quantum card, how did you quilify for that if you have a bk
First, if you claiming that you have proof of your date of last activity being wrong, why dont you just provide proof to a supervisor and they will change it (written proof) second, i ment that, if you pay 50 percent or greater of the charge off balance, you could quilify for the program. I dont know all the details and the specifics, i do know that mbna offers this program and that no a lot of people know about it. The fact that your charge off is so old may cause a problem. so i would talk with the recovery department and find out more psugirl
It's hard to have written proof that you DIDN'T pay something. I think I'm just going to leave it alone. If you had more details about the program I would consider it, but as it is I'm not so sure. No one is actively trying to collect this from me now, and I'd like to keep it that way. I wouldn't want them starting after me again for asking about a program I may or may not qualify for. There was a time when they were actively trying to collect that if they had made that offer to me, I'd have sent them a check though (for most of the last few years, that check would have been a money order though). It seems a shame for them to have a worthwhile program like that and not advertise it before they charge off the account.
MBNA Quantum I'm an AU on the card. Didn't have to qualify and since I have no history w/MBNA, I got it. Remember? The whole discussion was whether MBNA AUs were reported or not.
Re: MBNA Quantum They I would say that your approval for a card would depend on your credit history and if a credit analyst thinks you have the: ablity stablity and willingness to pay. That should answer your question.
