As a long time customer of MBNA, I was amazed to receive a letter telling me that they were going to increase my interest rate from 14% to 23% even though I was current and had been for years.

The reason... apparently they obtained information from a credit bureau indicating that my income to debt ratio had changed.  This little trick almost doubled my monthly payment.

I was advised that they had every right to do this... and sure enough... there, hidden in the fine print, was an obscure reference in legal terms saying they could do this.

What a bunch... it boarders on racketeering and loan sharking.   But I guess as long as the banks have the politicians in their pockets this financial rape will continue.  Beware of MBNA.  Beware!

I am interested in starting a class action suite.  Anyone interested?

Gordon Bridger, Trader777@earthlink.net