MBNA America Is The Biggest Credit Card Supplier.

MBNA America is one of the powerhouses of U.S. credit card lending.
Wilmington, Delaware-based bank made $79.5 billion in credit card loans
to 54.3 million consumers in 2002, ranking it just below international
conglomerate Citibank.

Not only does MBNA issue cards under its own name, it issues
"affiliate" cards for hundreds of retailers, trade groups, alumni
associations and other organizations.

If complaints coming in to ConsumerAffairs.com are any indication, MBNA
is also one of the more aggressive enforcers of "risk-based repricing"
or "universal default" contracts, in which a credit card lender scans
consumer credit reports frequently and raises interest rates on
existing balances if it doesn't like what it sees.

MBNA Europe is the parent of MBNA Europe Funding plc. On June 30, 2005
MBNA Corporation and Bank of America Corporation announced they had
signed an agreement and plan of merger, as described in MBNA
Corporation's Current Report on Form 8-K as filed with the SEC on July
6, 2005.

The nation's second-largest credit card issuer, MBNA America, is
sticking with Fair Share but tightening its requirements. MBNA says it
will only fund nonprofits that charge fair fees and don't use a for-
profit firm to contact and enroll customers. Bank of America has
already imposed similar terms.

If you have any experience with credit cards, you have likely already
heard of MBNA America. It is the largest independent issuer of credit
cards in the world, with offices in several countries and more than
28,000 employees. Besides credit cards, MBNA has expanded its financial
offerings to include insurance, consumer loans, and other products.

When I turned 18, I submitted applications for several credit card
companies. MBNA was the only company that would accept me and allow me
to start building credit. Through the years I have tried several other
credit cards including BofA, First USA, Discover, and Nextcard.

When I first came to MBNA America, I was lured in by an offer to
transfer other credit card balances at a low, “teaser” interest rate
that was good for six months. There was no annual fee, so it seemed
like a good place to open up an account.

Based in Wilmington, Del., the company is the recognized industry
leader in affinity marketing. Income from the UD Alumni Association's
affinity card helps support scholarships and other University programs.

When the LL Bean Visa card was first introduced, it offered a very
respectable deal. At that time, if offered a 1% rebate on all
purchases, and a higher rebate on LL Bean purchases. am sure that a lot
of customers were lured in by this offer.

The relationship between MBNA and the University "symbolizes the future
of both institutions," Cawley said, adding that, if the University of
Delaware were a portrait, it would be a "masterpiece.

ConsumerAffairs.Com contacted MBNA America for comment, but got no
response. MBNA, if you?re listening, we?d still like to hear what you
have to say.

Also at the ceremony, Roselle expressed appreciation to the state of
Delaware for its contributions to the project, and he acknowledged the
long-standing support from the Wilmington Trust Co., which funded the
Leonard Quill Conference Room, in honor of its former CEO, a graduate
of the College of Business and Economics' Class of 1958.

Well, when I got my statement, the over limit fee was there. I angrily
called MBNA and told them what had happened. Rather than admit the
mistake and reverse the charges, they insisted that this was the way it
works.

It looks like they are part of Bank of America. Do a google search.
There seems to be a lot of complaints about them due to fraudulent
business practices.

Author: Abol Joe is at http://mbnaamerica.blogspot.com