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Whats the deal with them? Are they a good card to have? What are the limits you all have gotten and with what scores? Also, are they collection friendly?

They are prime, yes they are a good card to have, it takes high scores (high 6's minimum), they are NOT collection friendly.

MBNA is also one of the more ruthless ones when it comes to collections.

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They didn't seem to work with me after 6 six years of not missing a payment...then they had a series of collectors call me. I would Cease & desist, and then a new one would pop up. Soon enough, Wolpoff & Ambramson collection attorneys were letting me know they were planning on pursuing this. That's when I called my attorney, BKed, and MBNA got stuck with a 15K bag.

They WILL raise your limits fast and furious if that is what you want though.

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I have had a very positive experience with MBNA. I have accounts or have had accounts with most of the big players in the prime market, and MBNA has - to my surprise - emerged as one of the better cards. They give absurdly high limits, which is nice and gives me ample elbow room in case something extraordinary happens (I currently have a $40k+ limit, though I've only carried balances up to $10k). They will combine and convert accounts with no problem, which is great (unlike BankOne, who refused both requests). They have decent benefits -- not the best in the industry but still good.

When our mail service got terribly wonky a few years back because the post office refused to deliver mail to our apartment complex anymore after the mail boxes were repeatedly vandalized, my MBNA and AmEx bills got lost in the mail. When I got my subsequent bills and found the error, I called MBNA and the CS rep without hesitation removed the late fee, assured me that it wouldn't be reported to the CRAs (which it wasn't) and restored my account to being in good status. AmEx, on the other hand, basically told me "tough", refused to remove the late fee, and jacked up my interest rate to default levels for a year.

Just recently I noticed that MBNA wasn't reporting my full history to the CRAs because the combined account didn't carry the previous account's history. I wrote them a goodwill letter asking them to add the previous history. A guy called me from the executive office telling me they would be happy to do this, followed up with a letter, and I have confirmed that they fulfilled their promise (now my TU score is 848 :D ).

Unfortunately, their APRs are high. But, if you pay it off then it doesn't matter. I have no idea though how this buyout will affect their operations.

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They didn't seem to work with me after 6 six years of not missing a payment...then they had a series of collectors call me. I would Cease & desist, and then a new one would pop up. Soon enough, Wolpoff & Ambramson collection attorneys were letting me know they were planning on pursuing this. That's when I called my attorney, BKed, and MBNA got stuck with a 15K bag.

They WILL raise your limits fast and furious if that is what you want though.

Let me rephrase - they'll work with you if you let them know what's going on, not wait until the account goes to collections and then slap them with a C&D. They have a hardship program to reduce your APR and payment during difficult times...

The key here is to let your creditors know what's going on. Too often, consumers are embarrassed to imply financial trouble until it's too late. If you let them now right away, and they refuse, then you know where you stand - that's somewhat better than finding out they could have helped after you've been sued by them...

Doc is the real "Bad Santa"

As long as that's not the same as a shill for the credit card industry.... :lol:

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That's the highest score I have ever heard of. My sig. other has all scores above 780- we bought a house in June, and they pulled all three. Needless to say, we decided NOT to use my mid-600 scores. I take it an 848 score is a perfect payment history on all accounts with over 30 yrs in the CRa database.

Congratulations

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MBNA was my first credit card acquired at 18. After a few months of solid payment history they raised my $500 limit to $1000 and a few months later to $2500. Within 2 years my limit went from $500 to $4500. They are great to work with-very friendly and accomodating with credit limit increases and combining other accounts to raise your limit. I enjoyed them very much until I came into hard times and defaulted. Altogether it was too much too fast for me and as a young person at that time I got in a bad situation. I highly reccomend them though. They managed to settle with me for fair amounts.

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Whats the deal with them? Are they a good card to have? What are the limits you all have gotten and with what scores? Also, are they collection friendly?

Great to deal with if you pay your bill on time and keep utilization low. I started low limit 5k I think. Dropped my rate to 7.9% fixed and credit line has grown to $36,000. I love 'em and their my card for everyday purchases.

However, don't mess up with them, cause they are impossible to deal with and you will never get any goodwill from them. In that respect, they are very difficult.

________

Yamaha G-245S history

Edited by sjsharks
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I agree with everyone else they do very generous CLI's repeatedly I remember having them for 2 years and then a sudden 15k increase. Mind you I was a college student -my only income was babysitting money.

Eventually I did hit rough times and wasn't able to repay they will work with you if you just let them know. I'm still paying off the account but negotiated a 7% rate. Aside from the 120 lates from years ago and the high utilization-the account is closed- they have kept their word about not stating the account is in a credit counseling program.

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  • 2 weeks later...

Personally I like MBNA, but I am very nervous about this buyout from BoA. My MBNA card is my oldest credit card account, my highest credit limit, and my lowest "regular" APR (ie, not promotional). They didn't even report the lates that I had when I was going through my divorce (my ex was supposed to be making payments to pay off his balance). I called them to let them know what was going on and they were very understanding. Of course this was almost four years ago, so I'm not sure how much things have changed.

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