Showing posts from July, 2005

It pays not to cave... that is. We have an Amtrak Guest Rewards credit card, which is the railroad equivalent of those airline mileage credit cards. It was issued by MBNA. A couple months ago we got a notice in the mail indicating that the terms of our account were about to change. It said that if we were late on even a single payment, MBNA would have the right to permanently increase our interest rate without giving notice. This would be in addition to any late fees. Naturally, I wasn't too keen on this. In fact, I considered it totally unacceptable. Late fees, a single penalty for a single offense, are one thing. Perpetual punishment for a single offense is quite another. The fine print (it was all very fine print, actually) said we could reject the change, if we did so in writing. However, if we rejected their terms, they would have the right to cancel our account at any time. Not a pleasant prospect, since we're saving up for some free Amtrak trips that we could probably not otherwise a