MBNA again
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Posted by Drew
(24.59.27.46) on November 01, 2003 at 12:09:49:
I just recieved the snail versions of our credit reports from Equifax and I found something that really got me mad. In the inquiry section, MBNA (a creditor of ours) has been doing soft inquiries into our credit files. These credit inquiries are labeled under AR by creditors which are permissable. That I understand. However what bothers me is that MBNA reviews our credit files MONTHLY and has been doing so for the last couple of years. Is there a limit on how often or many times a creditor can go snooping around in your credit file? I think monthly snoops are excessive and each time they snoop around, they find a reason to up the interest rate. A late payment to another creditor (Accidently missed this payment and forgot) was the reason for a seven point interest raise. I am really getting POed at this company. I have made the decision to pay them off as fast as I can and then I am not going to use their credit card anymore except once every three or four months and then I will pay them off in full. I will not let them earn one more dime of interest than I have to. I will let them build my credit and then find a decent bank who does not snoop. I had an account with US Bank (who sold it to MBNA and that is how I got stuck with them) and US Bank did not check our reports monthly. ONce every six months they did but this monthly snooping into credit files is pure crap!
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