I don't know if this question belongs to this forum, as I am looking for advices. MBNA has just cancelled both of my credit card accounts with them without notifying me in advance (They said that they've tried to contacted me by phone the day they closed the account - my cell phone; yet I didn't get any message from them - which MBNA later said that they called, but hang up without leaving any message). When I contacted MBNA, I was put to their credit analyst department and spoke with the senior analyst, Michael Lock. Michael Lock informed me that MBNA did not like the pattern of my usage and chose to terminate my accounts without any warnings. He was referring to the facts that I have been using BillPay to pay my other credit cards, then paid off the MBNA balances for the past eight months (the balances are around ten thousands each month). When I asked Michael Lock direcly(yes or no question) that did I possess any risks to MBNA if I had a high balance, but have been paid them off every time, he reluctantly said no (My accounts with MBNA are over eight years, and I have never been late - or carry a balance). I then rephrase his analysis that my accounts were closed, and I was discriminated against, because I had high balance and paid them off - and they don't like that - he became upset and said that I took it too personally (maybe the word discrimination took too much weight) and my accounts are to remain closed. He also asked that I do not call back again (I called twice - the first time to ask for my accounts to be reopen).

What can I do? Can MBNA do that? Are there any wrong doing on MBNA part? Any advises are appreciated. Thank you.

Do a search, this was addressed a little while ago.

Took less than a minute

Hickup.

This scares me. I've started using Bill Pay on my Fidelity MBNA card to pay about $1000/month of other credit cards, as well as maybe $2000/month of purchases. Since I'm a FWer, I pay the balance on time every month. Does this mean that I'm at risk of having my account closed, too?

Call back again and ask that for one account to be reopened

A couple of questions OP:

1) Were you paying off your balances each month in whole or in part with balance transfers from other credit cards?

2) What percentage of your MBNA credit lines were you hitting when you were running those $10K/mo bill pays thru?

3) Would you characterize the income you disclosed to MBNA when you applied for your cards being sufficient to suggest that $10K/mo of credit card payments was reasonable?

Hoping to learn something about what MBNA was triggering off from your responses.

Thanks

Let's turn this around.

you obviously are not a profitable customer, mbna cannot tell you this str8 up. You expect them to continue losing profit which in turn will cost other customers more money. And they cut you loose.

As a finance person i can tell you this goes on all the time. In big business, folks will fire other companies because they end up not making profit from you.

It may seem unfair, and i agree you should complain. But companies don't stay in business by holding on to loss leaders... thats a fact.

dweick said:A couple of questions OP:

1) Were you paying off your balances each month in whole or in part with balance transfers from other credit cards?

2) What percentage of your MBNA credit lines were you hitting when you were running those $10K/mo bill pays thru?

3) Would you characterize the income you disclosed to MBNA when you applied for your cards being sufficient to suggest that $10K/mo of credit card payments was reasonable?

Hoping to learn something about what MBNA was triggering off from your responses.

Thanks


I paid my balances off in whole directly from my checking account. My total credit line from the two MBNA cards were 60000.00 (after 8 years of perfect usages --- no late payment, no balance carried). I would think that the income I disclosed to MBNA were reasonable to carry a $10K/month, but I think they don't really care about my income as the cards are closed, not adjusted. It's obvious that the reason they cancelled the accounts were that they weren't profitable. I am just not happy with the approach that they took. Maybe it's a hint at their current financial position....hmmm

You lost $60k in credit? Ouch!

Thanks for posting OP.

BlkSnday, thanks for your experience too. If you could provide more details (when they closed your accounts, whether you made any purchasers, etc.). that would be helpful too.

Any other information any of you could provide on similar situations would be most helpful. This is certainly a worrisome trend, effecting many FW readers, and any info on what's caused it thus far would be appreciated by many.