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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: loantech who wrote (26897)	2/22/2005 5:28:20 AM
From: Elroy Jetson	Read Replies (1) \| Respond to of 110194

Bank One Visa recently added a 2% fee for making purchases in non-US currency as part of their merger with JP Morgan Chase. Although the fee is small and partially offset by their 1% rebate, I'm offended on priciple and decided to obtain a card which does not add this surcharge. Someone here mentioned that MBNA does not add the 2% surcharge. After obtaining their Motley Fool 1% back Visa I discovered a problematic feature with MBNA. Unlike many Visa card issuers, they do not offer a service which automatically deducts your Monthly Statement Balance from your checking account. I find this both annoying and freakish. If you go on-line at the correct time of month, you can learn what your monthly balance is and effect a transfer from your checking account, or for a fee do this by phone, but in either instance this requires your personal intervention. Although you can schedule estimated over-payments, if you overpay by too much, they claim they will reject your payment - such an idiotic game. No leaving home for three months without your computer. What a nuisance! Although ideal for offshore use in one way, it's useless in another. I suppose by failing to offer automatic payment they must be somewhat more likely to collect late fees or the like. I can't think of any other reason for this. If anyone has discovered a way to automatically pay their Statement Balance each month with MBNA I'd love to know about it. .