I have had accounts with Mbna for a number of years. They purchase accounts from other bank as well. I am 59 years old an am trying really hard to get my financial situation in order. Due to college tuition and a divorce my debt is high and I am working hard to pay it off. I contacted mbna regarding an account that is 24.98%! It is not late nor has been. I originally obtained this card through a bank in 1975 at a very low rate. It was sold to another bank and the rate went up slightly 12.99. Mbna purchased it and the rate now is ridiculous.
I called today and spoke to a woman who asked me about my job, personal info etc. I explained that I needed them to lower the rate and I was told that could not occur on my account due to the high debt that I have. I think they pulled a credit report right then, and i did not give them permission to do it. I stated that this made no sense - that to help people and get their money why would they not assist. She stated that MBNA does not negotiate rates. A few months ago I did get one lowerd from 22% to 18.99- Great huh? How can they do this? I pay my bills and do not understand. I feel like the whole conversation was deceptive leading me to believe that they could help with additional info from me. What does a consumer do? How can I fight this?
Elaine
Oakton, Virginia
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