I Saved 89 On Annual Fee Mbna

I saved $89 on Annual Fee - MBNA
I called MBNA today to switch my card over to a No Annual Fee card..

The customer service mentioned that I have an incredibly low interest rate on this card... MBNA Travel Rewards Platinum.. the rate is 7.99% which is pretty sweet.. I also have 1.99% interest on balance transfers until October 2010.!! That's pretty sweet as well.

I'm not crazy about the $89 annual interest rate. I told the CSR that I want to switch over to another credit card that doesn't charge the annual fee.. He indicated that I probably wouldn't get the same low interest rate if I changed to another card.

The CSR asked to be excused for a moment while he checked my options... when he returned on the line, he quickly indicated that he would remove the $89 annual fee, for this year, if I stayed with this card.

While I'll have to call back again next year... I saved $89 with a 6 minute phone call! This goes to show that MBNA is ready to give you a break, if you've got good credit. The other main point here is this: You may be able to save on interest rates and annual rates if you call your creditors.

The Keys To My Success in this regards:
If you're wondering why I get such good rates, and good privileges, I've done the following:
• Had the card since 2000
• Paid it up as agreed since then.
• My credit score is around 805
• I don't carry a balance.

These all make me able to negotiate favorable rates with MBNA.

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3 Comments
On Dec 23, 2009, Milton van der Veen Said:
I'm using the President's Choice MasterCard. It has no annual fee and I can use it to buy groceries at my local Zehr's and No Frills grocery stores. And it gives me 1% back on all my purchases. Since you pay off your card every month, what difference does it make what the interest rate is? I pay off every month too and have no idea what my interest rate is since I never have to make use of it. Elliot
On Dec 22, 2009, Milord Said:
I'm thinking of switching to the MBNA Travel Rewards Platinum card from CIBC Aeroplan ($120/yr plus $50 for supplementary card). I also would not bother with Air Miles since I discovered today that it is almost as difficult to book a seat on points with them as it is with Aeroplan (Air Canada). I'm wondering if it's worth the switch. I've heard good things about MBNA Travel Rewards, especially that there is no hassle when you decide to cash in your points for a trip. Can you tell me your experience with this? Thanks!
On Dec 21, 2009, Albert Said:
I was accused by some of being a cave man for some of my home business ideas for moms, even though they are good for dads too. Since then I've received additional suggestions that might get you thinking about starting your own business.