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MBNA + Bank of America = Scheduled Payments Lost

One of the great things about my MBNA Platinum Plus credit card was that I could use it to pay off other credits, basically giving me an additional month of float. Well, when Bank of America acquired MBNA, they consolidated all the cards underneath the BoA brand effective October 23rd. That means any scheduled bill payments you may have had with your MBNA cards disappeared. A reasonable person would have set up the system such that the scheduled payments would transfer over, right? Of course not! That would make it too easy on consumers, think of all the late fees and finance charges BoA just earned other companies. BoA scratches their back and then, sometime in the future, another company can screw you for BoA’s benefit.

So, if you schedule payments that would post after the 23rd, reschedule them again ASAP. Luckily I only had one missed payment, missing by one day (due date today), on a Citi card and they were pretty forgiving about it.