Daily Kos

Cancel your MBNA cards

by sockeye

Wed Feb 25, 2004 at 02:20:28 PM PDT

MBNA, the Delaware-based credit card bank, donated nearly a quarter of a million dollars to the Bush campaign last time around, more than any other company (I have seen other reports placing MBNA at #2 behind Enron.)

CEO Charles Cawley is one of Bush's notorious Pioneers.

With the help of Google, you should be able to find plenty more reasons why MBNA is not a company that deserves the support of progressives and other Bush opponents.

The reason for this post is that MBNA is the #1 private issuer of credit cards in the USA. Odds are, you have one of their cards in your wallet -- particularly if you have an "affinity" card with a team logo, University name, etc.

I would like to call on bloggers and anyone else in the progressive web community to urge anyone who cares about what happens in November, to cancel their MBNA accounts if they have any, and to tell MBNA why they are doing so -- because of the company's financial support of the Bush administration.

This is an easy slam-dunk guys. If you want to really piss them off, make a big donation to the DNC on your MBNA card right before you close it out.

I would be thrilled if some bloggers out there picked up this message. Look what we did to the RNC in Kentucky. Let's show MBNA how big our numbers are, and that we're not going to let our credit card payments be used to support Bush and his cronies again.

John

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Permalink | 25 comments

  •  Already done (none / 1)


    I've refused a number of great credit card offers from MBNA, settling for less appealing offers, since 2000.  For exactly this reason.  Thanks for making a suggestion that more people do so.

    by CTDem2 on Wed Feb 25, 2004 at 02:34:38 PM PDT

  •  Beware the Apple store too! (none / 0)

    Please note that many other retailers and organizations use MBNA to provide credit.

    For example, Apple offers fairly low financing when you purchase a computer or iPod in their store. This financing goes to MBNA.

    So everytime you mail your monthly payment for your nifty iPod or iMac, you will be making a contribution to Bush's reelection campaign.

    by sockeye on Wed Feb 25, 2004 at 02:45:01 PM PDT

  •  questions (none / 1)

    I have a Working Assets card, which earlier this year was tranferred from Fleet to MBNA. I never carry a balance, so I always figured that the cc company wasn't making any profit off of me. But maybe I'm missing something? If it turns out that my money is indirectly going to BushCo I'll certainly look for another card. But I'd hate to sacrifice the modest amount that my purchaches contribute to Working Assets' worthy causes. Advice?

    'S tric a bhris beul duine a shròin.

    by Seonachan on Wed Feb 25, 2004 at 02:45:18 PM PDT

    •  Working Assets should know better. (none / 0)

      Even if you don't carry a balance, the credit card company gets about 3-5% of the purchase price if I'm not mistaken.

      Look, no big company is completely clean, but this one is so completely dirty I don't want their name in my wallet.

      Every time you see the name MBNA, we need to think Bush/Cheney '04.

      by sockeye on Wed Feb 25, 2004 at 02:48:19 PM PDT

      [ Parent ]

      •  Tell Working Assets.... (none / 1)

        ...that they ought to know better than to deal with MBNA.  I have their phone service, and have sent them email and returned their credit card offers with a note indicating a lack of support for firms that support BushCo.

        My conflict is that I live in Delaware where MBNA ia a huge employer and I'd hate to see workers hurt by this...

        Ignorance, allied with power, is the most ferocious enemy justice can have. - James Baldwin

        by cassandra m on Wed Feb 25, 2004 at 02:57:34 PM PDT

        [ Parent ]

        •  Check to see if the workers are still in the US. (none / 0)

          Much of the credit card industry support worker base has already been outsourced to India and the Philippines.

          - What happens on DailyKos, stays on Google.

          by Jon Meltzer on Wed Feb 25, 2004 at 03:17:54 PM PDT

          [ Parent ]

        •  Nice of you to keep MBNA workers in mind, but... (none / 0)

          I grew up in Delaware too, and in those days everyone worked for Dupont. Wilmington was the chemical capital of the world. It now has the highest rate of breast cancer in the country ( breast cancer tends to be a good indicator of environmental carcinogens).

          My point is, what's good for a few workers isn't always good for the larger community.

          If you think MBNA does the community more good than Bush does harm, that's a reason to support them.

          I don't hold that view...

          by sockeye on Wed Feb 25, 2004 at 03:50:52 PM PDT

          [ Parent ]

    •  Yes, it hurts... (none / 0)

      Every time you use a credit card for a purchase, a tiny amount of the purchase price goes to the credit card company.

      by Dan Somoeoneorother on Wed Feb 25, 2004 at 05:53:35 PM PDT

      [ Parent ]

  •  Is there (none / 1)

    any OTHER credit card company I can use that doesn't donate big to RNC? I have MNBA card but it's the only one I have. I want to change. What's a legit alternative?

    http://www.usatoday.com/news/washington/2007-02-19-mccain-roe_x.htm

    by joojooluv on Wed Feb 25, 2004 at 02:49:14 PM PDT

  •  I did this 3 years ago (none / 1)

    I chopped up my MBNA card and sent them the shards with a note explaining that I would not do business with a company that gave such support to the Bush campaign. Why do you think bankruptcy reform was so high on their to-do list once they took office?

    "A shark on whisky is pretty risky; A shark on beer is a beer engineer." - Space Ghost

    by Gaska on Wed Feb 25, 2004 at 02:50:11 PM PDT

  •  Agreed (none / 1)

    I cancelled my MBNA card a few years ago, more because of their usual rate-hiking nonsense than anything else, but I'm not surprised to see this either.

    A useful bit of research would be to find "good" credit card issuers that people should try to transfer balances to if they can't simply pay off and cut up their cards.

    Our two open credit card accounts are both with community credit unions, which seems like a good option to the corporate giants.

    by Edge on Wed Feb 25, 2004 at 03:03:39 PM PDT

  •  MBNA sux (none / 0)

    I paid off my MBNA balance through a combo of balance transfers to low-fixed-rate cards and plain old scrimping and saving. It was obscene how much interest i'd paid them over 11 years at 22%.

    so i called up to cancel and the little twerp "closing agent" was so freaking obstinate and rude. i kept repeating over and over that i did not want to keep the card open, i simply wanted to close the account and wanted a letter stating i had paid the balance off.

    he did not listen to me for what seemed like 20 minutes. he kept offering up all these lame reasons to keep the account open.

    he would give me a reason and i would say, close the account. another reason, close the account. it went on and on and on. no matter the tone or content of my words, he would refuse to close my account and would not listen to what i said. it was like talking to a computer - or like he was trying to wear me down so i would hangup and keep it open by attrition.

    in the end i was being openly hostile, saying he was treating me like my wishes were of no consequence, the account was to stay open. it was a truly bizarre experience. i told him i would never give them a dime more of my money and that i would actively encourage my friends and family to close their accounts.

    later it seemed like he was really trying to strong arm me into keeping the account open at whatever cost. i could call him any name as long as the account was open - i felt sorry for the twerp, he had no conscience.

    i suppose working for them is no treat and the closing agents are there to harass and bully the customers into submission. it was truly frightening.

    thanks for reading my rant - it just seems obvious that the management is pro-Bush - they treat their customers like dirt.

    by mikepro on Wed Feb 25, 2004 at 03:42:40 PM PDT

  •  Rainbow Card (none / 0)

    MBNA also issues the Rainbow Card, being promoted in The Advocate. I have one which I use when I want to show my colors.

    by mike3k on Wed Feb 25, 2004 at 03:48:27 PM PDT

    •  Use your Rainbow Card, support Bush! (none / 0)

      How's that for a slogan: "Every time you use your Rainbow Card, you support the bigoted, anti-gay agenda of the Bush administration!!

      Support the Defense of Marriage Act with every purchase!!

      I think that's a message the gay community needs to hear...

      by sockeye on Wed Feb 25, 2004 at 04:15:49 PM PDT

      [ Parent ]

  •  Here's what I would like to see happen: (none / 0)

    Let's make folks aware that a payment to MBNA = a donation to Bush Cheney '04.

    Now let's get everyone who wants Bush out to cancel their card & tell MBNA why.

    Scene in MBNA boardroom:

    -- "Johnson, why have we had over 12 million cardholders close their accounts in the past 6 months?? This is killing us!!"

    -- "The cardholders say it's because of our support for Bush, sir. The American people are angry."

    If this happened, it would actually teach them a lesson. And if the media picked it up, it would serve as a warning to other companies that we have started paying attention to corporate behavior and are voting with our feet -- and our dollars.

    by sockeye on Wed Feb 25, 2004 at 04:05:03 PM PDT

  •  Cancelled a long time ago (none / 0)

    I got sucked into MBNA right after college when they promoted their card by telling me that money from my use of the card would go to my university. After a couple of years I called and asked them how much they donated and they couldn't tell me. Is this just a big scam or do they actually give some money to the institution on your card?

    Now, people had lost their fear. From that moment I knew we would win. - Oscar Olivera

    by Josh Prophet on Wed Feb 25, 2004 at 05:55:53 PM PDT

  •  MBNA (none / 0)

    I've had my MBNA card for 12 years, and I just paid it off. I'd love to cancel it in protest, but I want to do what's in my best interest.
    • If I keep my MBNA card and never use it, does that positively effect my credit rating?
    • If I cancel it <6 months after paying off a rather large balance, does that negatively effect my credit rating?
    I want to buy a house next year, so this is very much on the brain right now.

    Thanks.

    "It seems to me that when there is reason to go to war, it should be self-evident." - Charles Goyette

    by JoeStrummerLives on Wed Feb 25, 2004 at 06:51:16 PM PDT

    •  fwiw (none / 0)

      I don't know how much you want to rely on advice you get on a blog, but closing a paid-off card won't adversely affect your credit, nor will keeping one without using it...

      p.s. just got strummer's "streetcore"...what a great swan song. may he rest in peace.

      by sockeye on Wed Feb 25, 2004 at 07:10:30 PM PDT

      [ Parent ]

      •  MBNA (none / 0)

        Don't know why I'm asking you guys, found this here (seems like an unbiased source): http://www.bankrate.com/brm/news/cc/20020814h.asp

        But not everyone should start canceling all kinds of credit lines. If you're planning to buy a house or car soon, you may want to hang on to your unused credit lines until after you've qualified for a loan.

        Canceling a large amount of unused credit could actually hurt your credit score.

        Credit-scoring models look at a number of factors when calculating your score, including the result of the following formula: The total amount of debt on credit cards and revolving accounts divided by the total amount of debt available on those accounts.

        This formula results in a fraction less than one. The lower the fraction the better. A score of one would mean your outstanding debt equals your available credit and you've maxed out your cards.

        Let's look at an example. Let's say you've got $5,000 of debt and $15,000 in credit lines. By dividing 5,000 by 15,000 you get one-third. You're using one-third of the credit available to you.

        Now let's say you cancel an unused credit card with a $5,000 limit. You've still got $5,000 of debt but only $10,000 in credit lines. By dividing 5,000 by 10,000 you get one-half. You're now using one-half of the credit available to you.

        The closer to one this fraction gets, the more it hurts your credit score.

        The best advice for a home or auto shopper is to hang on to credit lines until after you've landed your loan.

        If your credit card balance is zero, go ahead and close as many unused accounts as you want. As long as your credit cards are balance-free, it won't hurt your credit score a bit. So call those card issuers and cut away.

        If you're in credit trouble or if you had credit problems in the past and you know an open credit line is just going to tempt you to spend -- go ahead and close the account.

        Yes, it may ding your credit score a bit. But if it will keep you from acquiring more debt, it's best to do it. You can worry about building up your credit score after you're back on your feet financially.

        Guess I'll keep it for now. Or maybe I'll call and make them squirm a bit. :-b

        "It seems to me that when there is reason to go to war, it should be self-evident." - Charles Goyette

        by JoeStrummerLives on Wed Feb 25, 2004 at 07:37:59 PM PDT

        [ Parent ]

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