MBNA Needs To Quit Bullying Me!

*sigh* borrowing money class......

would you be happy if they instead PRE BILLED your interest every
month? then you maybe paying more than you actualy owe because if you
pay early and more than the min payment they charged you for the full
amount until the due date and they would do it based on a minimum
payment when not every pays just the minimum.


consider that some people pay in full EVERY month and dont pay
interest for this reason. can the bank predict that this month or next
month you will pay in full or pay minimum? NO. thats why you make the
charges this month and next month they charge you interest for the
previous month AFTER they were able to calculate it properly, the
interest is always behind a month.

seriously banks should do IQ tests before they issue credit (too bad
the law forbids this per regulation B of the fair lending act). too
many people cant manage their finances.

Current Balance does not equal Pay Off Balance.
And you should ALWAYS check your account for the next month to make
sure there are not a few pennies left over that you owe on.

Again, this is why people should have to go to financial class before
they can have a credit card or get a loan.

Why aren't you contacting MBNA directly? Until you do that, you have
no idea as to why the finance charge exists.

If you review your cardholder agreement, it tells you that interest is
compounded DAILY. Most likely this charge is the interest you owe from
your previous statement date to the date you made the transfer.

What most likely happened is that although you did a balance transfer
of the total amount owing MBNA at that moment in time, finance charges
had accrued on the account from the date of your late statement to the
time you did the transfer. My suggestion is to pay the finance charge
so as not to do further damage to your credit and also not allow the
balance to grow as they will eventually force you to pay what you owe
(including all late fees and interest) in accordance with the
cardholder agreement you signed. They are not being a "bully" - -
they are just making you live up to the terms you agreed to when you
used the account in the first place.