MBNA America
Ripoff Credit Limit Reduction and abruptly APR increase

Hi. I requested the MBNA credit card on June. The main reasons were the balance transfer rate (1.7%), and an initial credit line of 8,100. I have NEVER sent the minimum payment to the credit cards to avoid interest-over-interest pay.

The line was increased to 10,600, payments in good standing and done as explained above. As of December I called to request an APR reduction, which they gladly did from 12.99 to 11.99.

But on January they decided to LOWER my credit limit to 7,500. They cited as a reason to do so: "At this time your credit line has been reduced because you currently owe sufficient amounts on your revolving lines of credit with other creditors. Please be assured that you may continue to use your account within the new credit line...". I couldn't believed this because none of the other credit cards did not reduced their credit limits at this time, and NEVER.instead, they continue to increase them.

On October they sent me a notice increasing the APR from 11.99 to whopping 19.99 (8% on a single notice)!! I decided to write them telling that I will discontinue the card after I paid the oustanding balance. For my benefit I never used the credit line in full, I usually use between 70 - 80 percent of it, or even less!

At this moment the card expired on June, they have not sent the new card, and I decided to leave as it is. I had never had a credit card that lowers the credit limit and increase the APR over 2.5% on a single increase.instead, the other cards have lowered the APR and increased the credit limit without request.

Thank you.

Luis
Caguas, PR U.S.A.

Company: MBNA America
Country: USA
State: Delaware
City: Wilmington
Site: www.mbna.com

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