I have had an MBNA Platinum Plus Visa for a number of years. It's actually one of the oldest listings on my credit report, and is all positives. Recently, they contacted me and notified me that they were switching it to a Platinum Plus MasterCard. The letter made it sound like I should be thrilled, however, they also told me I could call and say "No Thanks." My question(s) are: 1) Is there, in anyone's experience, any reason to prefer Visa to MasterCard. In other words, are my benefits changing at all? 2) If they change me, what does that do to this listing on my reports? The original line is from 1991, so I'd hate to have it replaced with what looks like a "new" line. Thanks.
If you accept that offer it's going to look as new line because of different brands VISA/MC. They can't just wipe out Visa account from your report or keep continuance.
Also if you accept that offer it is going to bring your score down because of average age of accounts. If you don't accept it they will close it and bring your score down anyway. Bastards...
Was it conversion VISA to VISA or MASTER CARD to MASTER CARD or VISA to MASTER CARD ( I doubt) MASTER CARD to VISA ( I doubt)
I don't remember. I think it was from one brand to another. Many banks used to issue both Visa and MasterCard, and now many of them are going to a single brand. For example, BofA only issues Visas. I think it was a situation like that and they kept the history because they were making the change. I know when I requested Citibank to change from one card to another they reported both, but I think whichever bank changed it kept the history. It's been six or seven years, I don't even remember who it was now. It just came up when I was trying to refinance my house and there were a lot of my ex-husband's debts still on my report. As I was going over the report with the broker to see which accounts were mine, I noticed that my fairly new card showed the dates when I first opened an account with that bank. It may have been People's Bank, I just don't remember.
MBNA won't do it. I am talking about my own experience with them. I had at the time Visa Platinum Plus and Quantum Master Card with them. When I combined the accounts into one they kept both on credit file with different history. I asked them "to combine the history too" and they told me it was impossible because of different brands. The answer came straight from the horse's mouth- their Executive Office.
Did you request the switch or did they? In the OP's case, they are doing it. That's why I thought they might keep it. If you request it I'm sure they wouldn't.
Re: Re: MBNA Visa vs. MasterCard? I did request. But they say it doesn't matter since the brands are different and they are not allowed to "combine the histories" for different brands. On the other hand they are allowed to combine credit lines/limits.
I USE 99.44% CREDIT CARDS...I HAVE NEVER SEEN A STORE THAT TAKES VISA AND NOT M/C NOR A STORE THAT TAKES M/C AND NOT VISA!!! AMEX AND DISCOVERCARD IS A DIFFERENT STORY
YEARS AGO...MORE THAN 7 YEARS...I DID A LOT OF MBNA TRADING...(that is how they lost more than 3 years of history)...BUT THEY TRADED MC FOR VISA OR VISA FOR M/C...I KEPT THE HISTORY...(CARDHOLDER SINCE DATE)...NOW I DON'T KNOW...
Since MBNA is doing the changing...YOU MUST KEEP THE "CARDHOLDER SINCE DATE"...(you keep your history)
mbna visa 1% overseas surchage. all other cards i have (And i have plenty) range from 2% to 3.5% MBNA is the only card that i will use on my honeymoon for this reason. They charge nothing, visa charges them 1%,they pass it on. i think fleet was like 2 to 2.5% per and its a visa too! All my mastercards including the "WORLD"ly are 2% or higher as well. stick with visa, if you ever ever plan to travel to europe its most accepted.
I rewquest to convert my Barnes&Nobles Platinum Plus MC into Elite Rewards Platinum Plus Visa last year and they report everything the same including opening date, payment history except account number. Ron.
Re: Re: MBNA Visa vs. MasterCard? Have you ever been to Sam's Club? They will take MasterCard, but not Visa
Re: Re: Re: MBNA Visa vs. MasterCard? My Sam's Club takes Discover only. No Visa, MasterCard or AmEx credit card. I am just wondering -why ???
Re: Re: Re: MBNA Visa vs. MasterCard? Sams Club only take Sam's CLub Crdit, Walmart Credit Card and Discover. Ron.
Re: Re: Re: MBNA Visa vs. MasterCard? MINE DOES NOT TAKE VISA OR M/C MY SAMS TAKES... SAMS "STORE" CARD WAL*MART "STORE" CARD DISCOVERCARD NOTHING ELSE ...but you can buy a GIFT CARD at WAL*MART with VISA/MC/AMEX and then use it at SAMS
