Credit Tips: Is the MBNA World Points Credit Card Good?

Posted On: November 1, 2005

Author: Marie
Posted: Thu Apr 22, 2004 3:38 am
Post subject: Is the MBNA World Points Credit Card Good?

MBNA sent me pre-approved offer with 5.9% fixed APR( Not an intro offer) on purchases and World Ponits rewards. Will it be worth to accept that offer? I have too many new accounts already and I am not sure is this card right for me.
Thank you.

Author: Guest
Posted: Thu Apr 22, 2004 12:22 pm
Post subject: Is the MBNA World Points Credit Card Good?

Go gor it. Just explain all the new accounts to the credit specialist when you call. It should be OK.
BTW, why all the new accounts?

Author: Eugene
Posted: Thu Apr 22, 2004 2:37 pm
Post subject: Is the MBNA World Points Credit Card Good?

Marie wrote:
Will it be worth to accept that offer?

Too little information to answer.

How do you use your cards? Do you carry a balance? What other cards do you have, and with what terms? Tell us your life’s story, and then we will be able to give you an educated answer.

If you want just a short answer, then I’ll say this: if you don’t know IF you need a card and WHY, then you DON’T need it!

Author: Guest
Posted: Thu Apr 22, 2004 5:13 pm
Post subject: Is the MBNA World Points Credit Card Good?

Get this card. I have one too. If you don’t get it, you will regret it. The best card I have ever had.

Author: Stephanie
Posted: Sat May 01, 2004 11:11 am
Post subject: Is the MBNA World Points Credit Card Good?

Hi there!~

Do NOT go with this one!

I would strongly discourage you from getting involved with MBNA’s credit cards.

My husband and I each have a credit card with MBNA and dealing with them has been a nightmare that has not ended!!!

The interest rate may sound fine now, but trust me it won’t stay that way for long. MBNA has soaked us for 25% interest for years - and if you mail them a payment, watch out. It’ll sit on someone’s desk long enough to issue a late fee of $35. I’ve had it happen where I’ve sent the payment a week early and was issued a late fee - stating that the payment was one day late.

Be very way of the credit limit that they give you. They allow HUGE credit limits that are guaranteed to get you into debt and keep you there.

Our goal right now is to get rid of debt. Even after making payments monthly and having not used the cards in 2 years the interest and fees were exploding out of control, maxing out that huge credit limit and drowning us in debt.

Also, MBNA refuses to work with any settlement companies either. They play hardball and will due whatever it takes to hold out for the full amount.

We found ourselves in one of the most awful financial situations due to our dealings with MBNA. I would never, ever recommend getting a credit card from them.

I’ve heard they are one of the toughest creditors around. If for whatever reason you miss a payment or don’t pay at least the minimum (which was impossible for us due to the exploding balances/fees) they will call you 3 times a week. Even when we made payment arrangements with them, sending them hundreds of dollars a month, they still constantly called wanting more money.

Fortunately for us, we have finally been able to make good payment arrangements with MBNA. We and they had no choice. Our account got so out of control that even they didn’t know what to do with it! Finally something was worked out, and they were really amicable when I explained what happened.

The unfortunate thing is, now we have all this debt and probably really only used 1/3 of our credit limit for actual purchases, over 2 years ago, and will be paying on this account for a VERY long time.

If you can’t afford to pay off your balance IN FULL each month, I would strongly advise against you getting this card. I know the ‘perks’ sound appealing, but I signed on with MBNA 6 years ago b/c a percentage went to the US Humane Society and I love animals. Well, that program is long gone. I would never again sign on with a card b/c I liked the miles or how the card looked or that they gave a donation to a certain cause. B/c of that, we’re in debt up to our eyeballs. We have not used the cards in several years and I don’t miss the credit at all but when I saw your post, I felt I needed to let you know what you could be getting yourself into.