MBNA, Wilmington, DE - changed my interest rate from 9% in April to 17% in May with no warning or notice

MBNA, Wilmington, DE - changed my interest rate from 9% in April to 17% in May with no warning or notice

MBNA, Wilmington, DE, is doing bait and switch on credit cards

MBNA, Wilmington, DE is doing bait and switch.

I have been a customer with MBNA for about 13 years. I have an excellent credit rating and have made my payments on time.

On my last statement, I wondered why the payment had jumped radically. Investigation showed that they had changed my interest rate from 9% in April to 17% in May with no warning or notice. I called customer service and asked why. He had no answer so passed me to someone else. He had no answer so he passed me to the mortgage financing division to a Mr Dan Phillips who said he could get me a home equity loan at 6%.

Mr Phillips gave me his phone number and extension. He left a message the next day saying that he couldn't do it after all. I tried calling him back but his calls are intercepted before you can get to the extension.

The game they are playing is to help you get a big credit line and use it with low interest. When you are managing this fine, they arbitrarily switch it to high interest with no warning. Fortunately, I can wipe out the account in the near future. I will leave the account open but not use it. That way it will cost them money and resources. I will not do business with them ever again. They are now on the list along with Citicorp for unethical behavior. If anyone wants to start a class action against them, I will be happy to join.

Ed Schwebel

Ed Schwebel [Email User]

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