Does MBNA offer a subprime card? I've read posts from others talking about their $500 credit limits and that's not a prime limit.
I tried to apply a couple of days ago and was turned down. I remember the cs telling me that a $200 limit can be given out. Of course MBNA does not call it a sub-prime product. Btw, since I did a bk-13 in 96', MBNA requires a 7 year positive cc history to consider me for a MBNA cc. I really thought I had a shot to talk myself into a cc since FICO gives you the max score on a pos. cc at 36 months. (my oldest cc is a Cap 1 from 96' with a perfect payment history) MBNA did pull two hard inquiries (TU and TRW). Best regards, Sam
They're that tough even for a $200 account? Why even offer a $200 account unless you're going to issue it to people with stressed credit? -Om
heh they dont issue cards to stressed people... and their rates aren't all that for most folks either. like 12.9 to 13.9% is their apr. too high...
MBNA has this double inquiry practice which I don't get. Recently, when I applied for the AMTRAK card, MBNA pulled *two* reports from Experian. Maybe I can get one of them off but that's not the point. Shouldn't one credit check be sufficient? If MBNA pulled two reports from diffferent bureaus, I could understand a little better. But there shouldn't be any reason to pull a report from the same bureau twice during the aplication process. For this reason alone I probably won't try for any more MBNA cards. Donna
Every credit report is different, I believe that MBNA uses TU and TRW.. There could be many reasons why they may have pulled two reports.. One of your reports may have lacked the depth , ect to approve and they pulled another one to see if there was any more trades on that one.. Another reason is for Fraud procedures , that is to make sure that the address matches the one on your application.. And last and not least , another one is pulled to try to find something on your report to decline you.. In many cases in which the address matches and the Credit reports shows that you have no delinquency, established revolving trades, and the debt to support it.. Then only one report would be needed.. In regards to the 500.00 credit line.. MBNA'S lowest credit line is a preferred Card with a 2500.00 Credit line.. Student Lines are anywhere depending what year of College they are in 500.00 2 yr collge.. 1000.00 freshman, 1500.00 soph, junior and 2000.00 for Seniors.. In regards to the 200.00 Credit line they are required by law to give a 200.00 line to Customers who have responded to a pre approval offer in which they have met certain criteria that was requested and given to MBNA by the credit reporting agency.. If you have not filed BKO, Charged off an account, or applied or received credit from MBNA within the last 3 months.. they have to send you a 200.00 card..
