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MBNA - Luring Students

MBNA America • Interest rate increases • Payoff agreements • Sales Practices • Credit protection plan • Credit line • Luring students • Pay-by-phone --- News • Bank of America Completes MBNA Buyout • Small Wonder MBNA Found Itself the Prey • Bank of America Buys MBNA • MBNA Profits Plunge • MBNA Turns Up the Heat • Supreme Court OKs MBNA's Charging Interest on Fees

Tara of Bethesda MD (2/10/04):
I cannot believe individuals continue to praise MBNA for their excellent customer service! Do you call luring eighteen year-old college students with the promise of a high credit line excellent customer service?

Although this happened to me years ago, I still cannot get over how despicable this company is for approaching young and impressionable individuals and luring them into the world of 22% interest rates. Although individuals are considered adults at the age of 18, do not think for a minute that MBNA does not recognize the fact that if they offer a student who has been eating ramen noodles for two months straight a credit line of $5000 (who gives a person with no credit history a $5000 credit line to start?!) they will accept it not realizing the potential danger they face with such asinine APRs.

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