TommyC

Discussion in 'Credit Talk' started by MNBA Consu, Nov 24, 2000.

  1. MNBA Consu

    MNBA Consu Guest

    I got a letter in the mail the day before yesterday, for an alleged, "select" certificate for a debt consolidation loan. In spite of a loan from a finance company, pulling down your credit scores, does anyone have any experience with MBNA Consumer Finance Company? I'm curious as to how easy is it to be approved? The "select" certificate has a time limit of 7 days, in which to respond and the return address is out of Delaware. I got the Citi AAdvantage Silver (thanks to Roni's advice)and was waiting to dispute one charge off that is two and a half years old, before I applied for the Chase card in February 2001. Any comments are welcomed and once again, thanks to everyone for supporting a great bulletin board. TommyC
     
  2. TommyC

    TommyC Guest

    MBNA Consumer Finance

    Opps! Sorry about that. Name and Subject, are in the wrong place. This is probably a good reason for those who work in hospitals, should not post on bulletin boards. Operating on too few hours of sleep, and only 34 hours to go :)
     
  3. GEORGE

    GEORGE Well-Known Member

    RE: MBNA Consumer Finance

    Must be a division of MBNA AMERICA VISA AND MASTERCARD.

    WHAT IS THE INTEREST RATE?
    WHAT IS THE ANNUAL FEE?
     
  4. TommyC

    TommyC Guest

    RE: MBNA Consumer Finance

    Hi George,
    It is actually a debt consolidation loan, called "Debt Eliminator." The interest rate is 13.5% and the minimum loan that you can apply for is $5k, up to a maximum of $25k. I'm curious, because when I called Gateway to buy a computer, MBNA, was one of the banks that denied me, but Hurley State Bank, approved me. I suspect that MBNA, may have a credit card deal too, if you were approved for their consumer finance loan, much like I have heard with Wells Fargo Financial. Thanks for your response, TommyC
     
  5. dave

    dave Well-Known Member

    RE: MBNA Consumer Finance

    What's your credit like? MBNA is a prime institution.
     
  6. TommyC

    TommyC Guest

    RE: MBNA Consumer Finance

    Hi Dave,
    What's my credit like? Well, I have one charge off from two and a half years ago, that I hope to sort out in the next three months and two collections that are paid, also from two years ago, 4 consolidated student loans (Aug.2000) and 8 positive tradelines, never late, etc. for the past two years. Hope that gives you a better picture? Thanks, TommyC
     
  7. dave

    dave Well-Known Member

    RE: MBNA Consumer Finance

    I am assuming that the student loans are without derogatory history?

    I don't know. Charge-offs and collections are serious, especially considering the relative recency of them. Perhaps someone with this type of delinquency can comment.

    I'd say if you are able to receive prime credit cards, then MBNA will probably approve. If not, you may have some trouble.
     
  8. roni

    roni Well-Known Member

    I think MBNA is expanding their market. I financed my furniture from EThan Allen with MBNA. They approved me instantly online. NOw that was surprising. They turned down my credit card application however. This leads me to believe that they are setting easy qualifications for their finance programs.

    roni

    MNBA Consumer Finance wrote:
    -------------------------------
    I got a letter in the mail the day before yesterday, for an alleged, "select" certificate for a debt consolidation loan. In spite of a loan from a finance company, pulling down your credit scores, does anyone have any experience with MBNA Consumer Finance Company? I'm curious as to how easy is it to be approved? The "select" certificate has a time limit of 7 days, in which to respond and the return address is out of Delaware. I got the Citi AAdvantage Silver (thanks to Roni's advice)and was waiting to dispute one charge off that is two and a half years old, before I applied for the Chase card in February 2001. Any comments are welcomed and once again, thanks to everyone for supporting a great bulletin board. TommyC
     
  9. TommyC

    TommyC Guest

    MBNA Consumer Finance

    I want to thank everyone who responded to my post, and I concur with you Roni, I think that more than a few prime creditors, are reevaluating their criteria to accomodate the marginally, credit-impaired, such as myself. Isn't the Internet grand? TommyC
     

Share This Page