Anyone have any ideas how my wife can get a limit increase from MBNA? Does MBNA listen to Planet Feedback? She's had the LLBean-branded MBNA Visa for close to two years, and it still remains at its $200 limit. She pays in full every month except once when we thought they might like to see carry a balance and make on money on the interest. (She hasn't carried a balance ever again because she discovered this card has two-cycle billing.) She applied for a limit increase online about six months ago and was declined -- after MBNA pulled a hard inquiry -- because of "insufficient number of credit references." When she called to see if a rep could override this, the rep said no but she could get an MBNA MasterCard. My wife declined this offer and instead got a MasterCard from her credit union (with a much better rate and two free movie tickets for applying). MBNA's low credit limit is becoming a problem because we're using this card to pay a recurring monthly bill. Because of when this monthly bill hits and when her billing statement closes, we have to schedule two online payments a month so she doesn't go over her credit limit. Heck, even a $100 increase would solve the problem. Doing a Creditnet search an even split between people who get fair-sized automatic increases every 3-6 months and others who complain about MBNA's being stingy with increases -- including some who say they have have an MBNA card for years and have never received an increase. Can anyone other any insight or suggestions on how to get at least a $100 increase -- especially if it can be done with a soft inquiry? Didn't someone on the board used to work for MBNA?
Is the credit union mastercard reporting? That would be important because it helps to build the credit history that MBNA or other creditors want to see. If it is not reporting (or even if is), she could either apply for a secured card and set her own limit or apply for an unsecured card with a low limit (such as Orchard which will give her $300 automatically which she can immediately bump up to $500 with one call). The problem with Orchard is the high annual fee. If she goes for a secured card, make sure that the card is not reported as secured.
FYI......MBNA does respond to Planetfeedback. Just send them a nice letter and state that you would like to give them MORE business but can't due to the low limit. I was denied a card and 2 months later sent them a PFB letter and was approved! It took them exactly 1 week to contact me. I got the message on a Friday evening after I returned home from work. I called and the guy had left already (due to the time difference). So I was going to call when I got to work the following Monday.......THEY BEAT ME TOO IT AND CALLED ME AT WORK! I was shocked...
Yes, the CU MC is reporting -- and it's an unsecured card. (We also have a secured loan from a different CU that's showing on her reports.) Plus she has a number of score cards with limits between $500 and $1,500 -- all of which have given her at least one credit line increase. (And all of which are paid in full.) Heck, Macy's just a preapproved Visa application. It's just MBNA that won't budge. I would have thought that after a couple of years they would have given her at least a $100 or $200 increase.
MBNA usually increase the credit limit for most of their accounts without asking if the account is good standing (mean never late).
ShyGuy, I had my Plat Plus acct for exactly 2 years before my first increase. I got $500 every 3 months for a year, then they called to offer me another Plat Plus card. Haven't gotten another increase since (7 months ago).
MBNA AMERICA is my highest limit...but I have not had any credit limit increases in 6 years... They PULLED a "HARD" inquiry on me when I did a PFB, even though I said DON'T!!!
my friend got her card 9 months after her first credit, a VW mbna card. $5500 limit. MBNA got her name from Vw credit and solicited her at home (odd!) by phone. First time i've ever seen a credit card company call you legitimately. They then called her at work to ask her a few questions, and gave her the card. Approxiamately 4 months later (last month),she asked to switch to a lower APR Platinum Plus, and got the request.... I pushed about $3000 cash to her payment. She called up to balance transfered the $3000 back to my citi. They asked if she wanted the pre-approved $3000 line increase. They then said, we can't pay my citibank card, but to expect the cash to be deposited in your online-registered bank account at 3.7% APR. Sure enough in about 5 days the cash appeared. nice folks.
In regards to a Credit Card From MBNA with a 200.00 Credit Line.. These Lines are usually given on Pre Approved applications that the Analyst feels as their Credit Demo's And Depth of file, Payment history, ect. do not warrant the 5500.00 Credit line that usually is assigned with the Pre approved Offers.. By Federal Regulations. If the Application meets the Criteria that is part of the Pre Approved offers, MBNA has to approve the application.. Where the applications at MBNA are Decisioned By People not Computers.. The analyst at that time feels as there may be a risk with extending credit.. This is where the 200.00 Credit lines come into play.. Most of the Applicants just say to cancel the Application due to the 200.00 line.. Very seldom you will get an increase on a 200.00 line.. I would suggest maybe applying for another Card depending on how your Credit file looks..
Tell them you want to make a large purchase from LL Bean and you need an increase, ask for their retention department. Call at night, you will be dealing with second shift MBNA reps.
RubyJean, I agree with you 100%. In fact, that's company policy. Are you with MBNA? I use to work out at the Deerfield location. CardKid
All analysts receive the same training. Plus, MBNA does not emply slackers. I suggest applying for another card product if your credit and ratios are good. CardKid
Yes, I am.. I have worked for MBNA for 3 years.. 8 Months in TACS,16 months in Customer Assistance in the Charge off Unit.., and for the last 12 months as a Credit Analyst.. I do not have anything to do with the credit line increases.. You would have The Customer Satisfaction Department , which is open 24 Hrs.. The number to call is800-421-2110, ask the rep to put through a Credit line increase on your present MBNA Card.. You will receive a call with in an hour.. You can also go onto WWW.MBNANETACCESS.COM.. I believe that you can submitt a Credit line increase on line also..
On Pre Apprved Offers, we are required to give a 200.00 line.. 500.00 for NEA, if a reason can not be found such as applying for credit with the same company with in 90 days.. BKO, , ect.. There are only certain adverse action reasons in which you can deny a Pre Apprved offer.. If one can not be found, you have to offer the 200.00. Card..
Rubyjean Rubyjean, you've disabled e-mail sending option on your CreditNet profile. Could you please enable it for 1 day - I'd like to send you an e-mail. If not, could you send one to me? Just click on "Saar" on this post's blue header & click the "e-mail Saar" option. Thanks, Saar
I exercise my credit to get line increases and lower rates. My MBNA account is up to a $15,200 limit. www.creditsense.com
Qs for RubyJean and CardKid 1) Why is MBNA required to give any line? So many other credits send out "preapproved" offers that they don't honor; why doesn't MBNA? (Don't get me wrong; it's great that preapproved means something -- even if it's only a 4200 limit -- with MBNA.) 2) Does a $200 limit mean you'll never get an increase, even if you pay on time for years? Won't MBNA even increase someone to $500 if the person has a great payment history and has built up a decent FICO? What if a cardholder builds up a lot of LLBean reward points (or whatever they are called) and wants to make a LLBean purchase larger than $200? Can LLBean help get an increase?
Re: Qs for RubyJean and CardKid It depends how you are handling your other debt, how long you have had it..the balances of your other revolving debt.. and if you have any delinquency, ect.. LL BEAN has nothing to do with the Credit Card, in regards to line increases, ect.
