Good Banks, Bad Banks

[legalmoose]

Okay, Discover Card™ is my new best friend. Even though I have a high balance with them, they just lowered my interest rate again (I called and asked them to do so). They actually lowered it more than I expected them to, and it took effect immediately, which was a very pleasant surprise. It might help that I've started tentatively using the card when I can, then paying the usual monthly payment plus anything I've charged, rounded up (i.e., charge $35, pay $50, plus the usual payment). The rate is still higher than I'd like it to be, but it's considerably lower than where it was when I started this process not quite a year ago.

MBNA's credit card department, on the other hand, is a bunch of pig fuckers who couldn't tell the difference between their ass and a hole in the ground. They would not lower the rates (I have one big card and one small card with them), asking me to call back in another two months (Jan/Feb, about when I started this crusade/process to get my cards paid down this year), and insisting that I should up my payments yet again. This after they told me when I called in February that I could get it reviewed and lowered in six months if everything was kosher. Everything's been kosher, but they're not playing ball. Hell, I've even managed to gradually increase the amount I pay each months, but still no go.

So, frustrated with MBNA, I went online to my credit union and applied for a small balance card with them (and they called me back just now - about an hour after I sent in the application, which would never have happened at Suntrust). This will replace the small card with MBNA, just a $600 balance for small purchases online when you need a Visa instead of a Discover card. So if that goes through, *snip* goes the Suntrust Visa. This was a card that had had a great interest rate under Crestar, but when Crestar and Suntrust merged they rebranded the card to Suntrust and farmed out the management thereof to MBNA, who promptly doubled the interest rate.

I'm still getting things fixed on my credit reports, which is why I've not applied for a big loan to wipe them all out yet. That'll come, but in the meantime any little bit helps, so I'll keep bugging.

Comments

[deejayqueue.livejournal.com]

wow, that sounds so..... responsible. MBNA are complete dicks though, i think i have some outstanding credit with them... an apple loan or something. they're total pricks always like "give us our money back" WTF?

[legalmoose]

Yup, MBNA does Apple's loans for them. I looked at that for all of three seconds before running screaming away from the computer.

Otherwise I'm pretty much a cash-n-carry kinda guy. I only use the cards now if I can pay it off immediately with money in the bank.

[freqflyer.livejournal.com]

is your account closed?

just be aware that you can reject a change of terms in writing if they try to raise your rates.

(not that i know anything about mbna cards)

[legalmoose]

I did agree back in February to not allow charges on the large account, but it's not closed, no. They're not trying to raise the rates now, though - that was done long ago. I'm just trying to get the rates back down to a semblance of normalcy from the usurious highs where they currently sit.

I wouldn't be miffed if they'd just live up to what they said they would do - lower the rate in six months when I called back, provided I'd make my payments on time, which I've done. I'm even okay with small movements down, as long as there's movement. I know my credit isn't stellar, and I'll accept the consequences of that, but it's a hell of a lot better than it was, and I'd like some recognition of that so I can get out of debt faster.

[scott8424.livejournal.com]

I had a similar experience with MBNA, and promptly closed my account with them. For some reason I still get offers for more cards, which I find funny since they weren't really interested in my business when I actually was their customer.

[plato4013.livejournal.com]

You should call MBNA tomorrow and ask them to lower the rate and if they say no, ask for a manager and make it clear you aren't getting off the phone until they do. My roommate works for Discover and they seem like a good company and I'm happy with my card. I put tuition on it and pay it off each month and earn cash back points. I'm trying to pay off my credit cards as well and it is so frustrating making payments and then just see more finance charges being applied the same month. Good luck with your cards. :)