Topic: Rate your card company Author: beaucat Time: 04/12/2001 23:03:49 Subject: MBNA: Two Thumbs Down I recently paid off my MBNA card and will never use it again. I ran up a fair amount of credit card debt as a graduate student and have been working hard to pay it down. The original rate on the MBNA card was an intro rate and then went up to about 17%. While my total debt load (on all debts) has been decreasing, the interest rate was increasing -- up to a whopping 25% a year ago -- I never missed a single payment, was always under my balance, and generally paid more than twice the minimum payment. The last straw came a month ago -- I had paid off the card and had a negative balance, so I went to use the card for a minor $35 purchase so that the balance would be close to $0 -- I was informed that the card had been cancelled. When I called MBNA, they told me that they felt that I had enough credit on my other cards, so I didn't need theirs anymore -- after pulling myself down off of the ceiling, I was able to get them to reopen the account -- I wanted the credit to show up as as available to help with my credit score. I feel like I was penalized by them for paying off the card!