I have an MBNA credit card because it is connected with LL Bean Clothing company. Its interest rate is high, but I can pay it off monthly and I get free shipping plus LL Bean $$. When they sent me information about a line of credit for 6.99%, I called to find out more about it. They take all your information, check your credit report and then, of course, come back to tell you yours will 9.99% or something like that. I already have a very good credit card for that amount and a Dell computers account for 6.99%, so I told them forget it, I didn't want it. They tried to change my mind and I explained why I didn't want it and then hung up.
Two weeks later I get a packet in the mail with checks telling me I now have a $10,000 (twice what I said I needed before I said no deal) line of credit with them. I called and told them to cancel it and what state agency could I complain to. After being on the phone 20 minutes and never getting an answer to that, I hung up. I got a fax stating that the account was canceled but that it would take 30 to 60 days for my credit bureau information to be changed and that I would probably get more blank checks in the mail for 30 to 60 days.
I have also noticed with my MBNA credit card that if I send my payment very early (two weeks), it still takes until right before the due date for the check to go through--thereby adding extra interest. Is there a regulatory agency I can complain to that could take action against MBNA?
