APR on NFL Rewards Card

Posted Thu April 13, 2006 5:02 pm, by James W. written to MBNA

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When I first got my MBNA NFL Rewards Card my APR was a low 9.99%. I then after about a year did a balance transfer to the card with a balance transfer APR of 2.99%. After reviewing one of my statements a few months later I noticed my APR, including my balance transfer APR shot up to over 19%. I called MBNA and they were less than helpful. All they told me was that due to my high balances on other credit cards they raised my APR. I have no idea what sort of business practice this is but it does not bode well with MBNA. I also have zero late payments across the board with ANY card.

I want MBNA to either lower my APR back down to close to 9.99% or I'm closing out the account. It simply isn't worth it at that percentage rate. Either this is done or I'll simply transfer my balance over to one of my low rate cards and then close the MBNA account.

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Re: APR on NFL Rewards Card by FnkeeFresh Posted Wed July 5, 2006 @ 3:07 PM You might as well close the account. Unless you are making them a bit of money (like carrying a balance each month or using for atm transactions) then they won't lower your APR.......about you having high balances on other cards, as a financial institution they compare your yearly income to the amount of debt that you have, its called a debt to income ratio. If you want to have that reviewed then call in and ask to speak to an ARA specialist. They have to protect their assets as a company which is why if you only pay the minimum on a 20k balance it will take you forever to pay it off at a high rate. Reply