I 've been trying to get info on Mnba , and haven't found much on the board. I need to respond(accroding to them) asap. What they sent me is a preapproval for their "Debt Free Plan" . Is this a LOC, personal loan, or what ? I was a little reluctant but then I saw the possibility of doing a Bt to one of their cards, could I do it with this ? Is it an instant approval thing over the phone, and will they offer me a credit card when appltying for the "Plan"? I've never done a program where you are talking to someone on the phone and they are approving or rejecting you. What's that like? Thanks in advance. I may be trying to apply today or tommorrow. Ps what's PFB ? Thanks again Chris
The biggest issue is that the contract says they can and WILL "Jack" you (as George would say) whenever they think your credit standing overall has changed or with them. Thus, if your utilization goes up, up goes your payment and interest rate. In the old version, only interest rate would go up. The new contract I saw also says your payment will go up. They will be checking you monthly. It may be ok if you need it to clear off other cards that are ones you could BT back to if you need to....(e.g. Pay off 20% Discover card, then do 8.9 BT to Discover to pay off Providian at 20.9). I would not use this to pay off store cards or other debt where you cannot BT it back should MBNA jack your rate up.
