Quote:
Originally Posted by Phanuthier
why? is there something you know that I don't?
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I'm sure if you Google around a bit, you'll find more detailed accounts of unfair practices with MBNA, particularly with respect to their interest rates. In
this link there's one article (NYT) which touches on it, and which might be of general use to first time credit card users unfamiliar with the processes issuers employ.
Anecdotally, I remember a call I got from MBNA when I was finishing up my undergrad. The guy asked for my housemate to offer him a platinum Mastercard (my housemate was in Commerce, and they regularly got hit up for this kind of thing on the expectation they'd be big earners). Anyways, I told the guy that he wasn't home. His response was to ask me if
I would like a platinum Mastercard. He had no idea who I was, what my credit history was, or what my earning potential was. I thought it was funny, so I told him my name and address. He asked for more detailed information, and I said I just wasn't going to give it to him.
A couple of weeks later, I received my platinum Mastercard, even though I had refused to answer most of his questions. I promptly cut it up and never activated my account.
What does this suggest to you? To me, it suggests they'll issue a card to anyone because they feel safe in the knowledge that they can just hook into you with their interest rates, and freeze your credit while they do so.