Complaint / Review
MBNA Bank Of America
Deceptive, possibly fraudulent changes to cardholder agreement, jacked my rate up 500%, during merger Ripoff Nationwide

I just found out today that my 'promotional' interest rate went from 3.99% to 19.98%, an unknown number months ago.

I was told this was a result of MBNA merging with Bank of America.

The customer service rep told me they sent me a letter 'asking' if this was okay, and telling me that if I didn't answer, the rate would go up. I never got such a letter.

During phone calls, I was told the new rate became effective in June. Then I was told it happened in March January April 8 and December.

I have always paid my bill on time, and usually more than the minimum amount due.

This has cost me over $6.00 per day for months.