MBNA America Bank, NA
Doubled interest rate with no missed payments ripoff

I have been an MBNA cardholder for over 2 years now. I have been a faithful customer, paying my bills ontime and above the minumum. The last time I missed a payment was when I moved, and that was taken care of in 2004. I just looked at my accounts and saw that my interest rate went from 10.99 to 22.49 percent in one month.

When I called, I was told that this was pecause of a periodic review of my credit shoed that I have a high debt ratio. Yes, I do at the moment have a high debt ratio, but it didn't stop me from paying my bills on time. They told me that there was nothing they could do to lower the interest rate. They instead pushed me to sign up for a debt consolidation program that would reduce my credit rating and still have a high interest rate.

I have other cards, and have NEVER had my interest rate increased for anything less than missed payments. I am in the process of transferring the balance of this account to another card that we had in reserve, and I will then cancel this account. I will not give my money to a business with practices such as these.

Company: MBNA America Bank, NA
Country: USA
State: Delaware
City: Wilmington
Address: 1000 Samoset Drive

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