Quantum MBNA, how to apply?

So far so good! They pulled Experian only (albeit twice). Asked for explanation of my derogs and whammo...LOC! I'll try to convert to Quantum tomorrow. Thanks Marci, you're awesome!

 

You're very welcome, Bauhaus! They pulled Experian twice for me for this product as well. Remember to scale up to a supervisor if a Tele Sales rep says that you can't convert. You definitely can, but not everyone at MBNA knows it yet. Nevertheless, Tele Sales seems to be on top of their game. Tell them that a supervisor has communicated that a Gold Reserve loc CAN be converted.

A warning: when the conversion happens, the regular MBNA reps will say that the "application" is "denied" if you ask them about the status. They did that to me when I called regular CS (1-800-421-2110) asking if an account number had been assigned for the Quantum yet. They said, no the application was declined. I freaked out. I called the Tele Sales dept back and THREE managers assured me that it was not denied but just in the process of being converted. They said that some software glitch made regular CS think that the account was denied. I still don't understand that. Anyway, regular CS was dead wrong because the Quantum full account number/trade was already reporting on all three of my credit reports (I just didn't know it).

The trade reported before I got the loc checks in the mail. The card and the letter stating that my loc account was closed for the Quantum both came on yesterday. The card is pretty, sort of translucent, but nothing like the AmEx Blue.


Also, if you choose to get the Quantum Rewards card, here is the website for those rewards:

www.quantumselectrewards.com


They've got me at a 3.9% 4 month intro apr then a "go to" of 12.99% on the card. No annual fee. 25 day grace period.


Good luck!

 

Re: Quantum MBNA Select Rewards Car

marci,

I just called them to convert my regular Quantum Card into Quantum Rewards Select Card. Why not?
I got something by using the card and it is better than nothing. I will get a new number in the mail witin 3 ot 4 weeks. They also give me 3.9% into rate for 4 mos and afterwards 12.99% fixed APR. I like the card has no ANNUAL FEE.

In case anyone who want to conver theirs to Quantum Select Rewards and the direct number is:


(800)862-0910.

Marci, Thanks for the info.

Ron.

 

Re: Quantum MBNA Select Rewards Car

Ender,

The rewards select card has no annual fee and they sent you a new card if you have regular Quantum Card. They started a new term for me and it has 3.9% intro APR for four months and 12.99% fixed APR afterwards. My current Quantum has 11.99% fixed APR and it is one point higher than mine. I don't care too much about the rate since I paid it off monthly.



Ron.

 

Re: Quantum MBNA Select Rewards Car

Just an FYI,


Both 1-800-862-0910 and 1-800-852-4139 take you straight to their Tele Sales (Quantum applications) dept. Supposedly the former number is for "new apps" and the latter is for "current MBNA apps" but both take you to the same dept.



You can't get much better than a rewards card with no annual fee.

 

Re: Quantum MBNA Select Rewards Car

marci,

I haven't seen a reward card with no annual fee. I'm looking forward to get my new Quantum Select Rewards Card. Thanks for letting me for a great offers.



Ron.

 

Re: Quantum MBNA Select Rewards Car

Ron,

You're very welcome, as well. Here are three more no annual fee rewards cards to consider (that I know of):


1. Blue from American Express: and Membership Rewards Options, which can be converted to air/hotel points. It also has the 9.99% fixed apr.


2. Hilton Hhonors Platinum from American Express: Hilton Hhonors can be converted to miles - but the ratio is not great for air rewards. Also qualifies for Membership Rewards Options.


3. My new favorite: Hilton Hhonors Visa Signature (www.hhonorscard.com) from Citibank USA. P+7.99 apr is the lowest they offer me. Great Hilton points. Yes, I like Hilton at the moment...


And if you're shameless, like me...

4. If you have an AmEx charge, the AmEx Delta Skymiles basic blue card will have no annual fee. The Skymiles points actually get you way more hotel rewards than the hotel cards do themselves. And of course, this card also qualifies for Membeship Rewards Options.


I think it's great to make a credit card work for you. And I'm grateful in many ways to Creditnet for helping me get in a position to be able to realize that possibility.

 

Re: Quantum MBNA Select Rewards Car

Marci,

I can't have Amex right now and I had charge-off accounts with them. They denied me because I'm on his blacklist. I got 2 Diners Club because I didn't have any charge-off accounts with Citibank. Thanks for your reply.


Ron.

 

marci,

what did you say you wanted the $10k for? I can't really think of a real reason to ask for that much...



-scott

 

I had a balance on a $9000 limit Citibank card. At the time, Experian had the limit at $6000 and the Citi card was close to being maxed out (thanks a LOT, Citi, for not updating!).


Analyst: "Your Citi is close to the limit"

Me: "You are right that it is reported that way on Experian, but it hasn't updated since September. The limit is actually $9000 and the balance is ____. You can feel free to call Citibank to verify the current balance and limit, if you'd like".


Analyst: "Okay.... so, why do you want $10K?"


Me: "Well, my Citi card has ___ balance and a $9000 limit and I'd love to BT the balance to the MBNA loc. But I want to have a comparable limit of $9K or $10K in order to preserve my debt utilization ratio on my credit reports. I don't want to balance transfer and hurt my credit score with a utilization problem at the same time. So, I asked for $10K on the application."


Analyst: "Okay, I can offer you 11.99% on the loc if you BT today but not the 3.9% you have with Citi".

Me: " Okay, that sounds great, but could I take a day to think it over - or is the loc approval dependent on my taking the BT offer right now?"

Analyst: "No, the loc is already approved for $10K. I just did it. If you don't do the BT today, you'll just have a 13.99% apr loc rather than an 11.99% apr."

Me: "Okay, I'll wait on the BT offer until another day" (and call Quantum heeheehee...)

 

How about, "home repairs". They'll ask what in particular you're doing, so think of some things to improve beforehand.

 

I also applied for the regular line of credit and was approved. When I called to combine it with my quantum, they told me I had a 5.9 promo rate on the loc. So I know they offer promos in addition to the normal rate which in my case was a whopping 15.99%.

 

Ender,

Last year, I applied for Barnes&Nobles Platinum Card and I got approved. They also sent me a letter and they told me they knew I have two other MBNA accounts while they're reviewing my credit. By the way, MBNA accoutnonline shows all my account including LOC,Credit cards with them and it ties under my name. I'm sure they have no trouble to look it up. Most of the banks have blacklist including Citibank, American Express,Mervyns,Target and Discover etc.



Ron.

 

Ender,

I applied for Quantum card a year ago when they first introduced. They denied me even I don't any negative and previously charge-off account with MBNA. The reason of the denial is insufficient income. I request an uprade to Quantum Card from my Garfield Platinum Card. I never could qualify for Quantum Card if I don't have a Garfield Platinum Plus Card with $10,000 credit limit. By the way, I applied on the phone and they pulled credit from TransUnion.



Ron.

 

Ender,

MBNA pulled credit from TransUnion most of the time for me. I applied both of my cards( Garfiled Platinum Plus, Barnes & Nobles Platinum Plus Card) pulled credit from TransUnion except Apple LOC pulled credit from Experian.


Ron.

 

Ender,


Good Luck.



Ron.