Tuesday, 30 June 2009

MBNA Europe Bank

It seems that the credit card company MBNA is cancelling cards of customers who have always paid-off the full amounts on their monthly statements. Particularly hit are cards that are infrequently used and carry high credit limits.

MBNA say it's because they are a "responsible lender". What's that got to do with the price of fish? Perhaps the real reason is more along the lines of MBNA is not making enough money off these customers. Or could it be that the credit card company is finding its resources stretched in these hard times?

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