Bank of America buys MBNA.. How will MBNA credit cards be affected?
 

I don't have a credit card with MBNA - in fact, they denied me when I applied, since I had no credit history - but I am curious about how Bank of America's purchase of MBNA will affect their credit cards, whether it be rates, policy, and/or rates. Do you think this "changing of hands" will be felt by the MBNA card users, or is it strictly a company name change?

Most likely just a name change. Chase bought First USA last year and my card hasn't changed except for the name. If things change toward an area I don't like, then I'll negoiate with them or cancel the card.

Here's how it could be affected: http://news.yahoo.com/fc/business/ba...america___mbna

and here: http://money.cnn.com/2005/06/30/pf/b...n=money_latest

While I'm not a fan of Monopolies(sp?), I've been a BOA customer for about 4 years... I had a BOA credit card and a Fleet CC when they got bought, and nothing bad happened.. In fact, I merged the two cards together and ended up with one card with a large credit limit, and an even better APR. If this merger goes through, then I'm sure I can merge my MBNA card with my BOA and do the same thing... additionally, I used to have to go to 2 seperate websites to pay each bill, if you have more than one BOA account, it gets merged into one logon and you can see all your BOA accounts on on screen.

I doubt it will be a big deal, even if they have 90% of the industry, Discover, AMEX and the others will just be more competitive, and if they arent then, either way your getting the better deal....

I had that same thought but for a different reason. I work for **** and all of our personal credit cards are issued through MBNA. Now Bank of America is one of ****'s biggest competitors so what will that mean for us?

I'll be very interested to see how this all plays out.