I just received my July statement and included with the statement was a noticed stating the APR is changing. I have had a fixed rate for over 6 years now 12%. I never had any late payment on this card or any other card. I immediately called MBNA and was told they are increasing the APR and changing it to a VARIABLE rate. Starting at 15% Prime.
My credit is in perfect order and has a very high credit score. I carry a small balance $3,000.00, luckily I have enough money to pay this full amount off. I feel sorry for people who are getting sucked in by these scum sucking loan sharks.
I will be paying this account total amount this month. I would advise everyone else to do the same. I will never do business with MBNA again.
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