Has Your MBNA Credit Card Been Replaced by a Bank of America Credit Card?
Whether or not You Have a Bank of America Credit Card, Mergers Can Affect You
Quite often in the consumer credit card industry banks merge, change names, or are bought out such, which is how I now have a Bank of America credit card. Situations like this may disrupt consumer’s individual service or cause some other related headaches. Whether or not you have a Bank of America credit card as a result of their recent merger with MBNA, the following information can be helpful.
Say Goodbye to MBNA
Consider the Bank of America’s recent acquisition of MBNA. I have had an MBNA credit card for many years, and I have maintained an active account until present day. This resulted in several inconveniences on my end when my MBNA card became a Bank of America credit card.
Your Bill Is Changing
First of all, the bill for my Bank of America credit card looked totally different than what I was used to from MBNA. The outside envelope had a different color and font. I mistakenly thought this was a new credit card offer and threw this bill into the garbage. After realizing I didn’t pay my old MBNA that month, I called my credit card company and told them my situation. They were very kind and understanding and waived my late for that month on my new Bank of America credit card.
Another inconveniences which you may notice is the location you send the bill to is different. This will not be a big problem if you pay your bills using traditional US mail. However, if you pay your bills using a bill paying service from your bank, then you must update this information so that your credit card company will receive your payment on time.
Also, be careful that the payment due date doesn’t change with your new credit card company. This could cause a problem if you have pre-scheduled automatic bill payments. You will need to update the payment date to avoid late fees. So whether or not you have a Bank of America credit card, it is important to regularly take a closer look at the information you have on file for your electronic bill paying service.
If you look at statements online, you may need to update login and password information. This will consist of changing your password and updating your security questions. Expect a small unavailability time for the webpage immediately after the merge to transfer your account. This may be as small a few hours to one day. Hopefully, this transition will be very smooth. Whether or not you are a former MBNA client who now has a new Bank of America credit card, mergers can affect your life and you should be attentive in order to minimize the impact they have.