MBNA sent several offers to transfer balances for 7.99% for life. I generally ignore these offers but last year decided to consolidate and 7.99 was not a bad rate. I made over the monthly minimum payment for over a year, but, lo and behold comes Dec. 04 I receive a letter stating my rate was going to jump to 19.99%. I called and the phone operator informed me that they were within their rights (check the fine print) to raise the rate.
I was fortunate enough to be able to pay them off. Not everyone has that luxury. Beware of this company!!
0 comments