In the Fall of 1998, I entered the University of Georgia as a freshman. Like most big universities, MBNA sets up shop outside home football games trying to convince college students that they just HAVE TO HAVE their college's credit card. And really, how could I resist the bright red credit card with a black Georgia G on it? And of course, I got a free towel with my application.
In 2001, I read in Newsweek that MBNA had been Bush's top Contributor and was pushing the administration for bankruptcy "reform". Even though I still had my Gore / Lieberman sticker on my card, I couldn't part with my red Georgia G card.
When I graduated in 2002, MBNA upped my card to platinum, but switched my card to this goldish color with the Arch on it. WTF is this? But still I kept my card, until now.
I had always justified my keeping of the card as, "Well, I never keep a balance.. so what's the harm?" Of course, I liked to conveniently forget that credit card companies charge businesses who accept their card as payment.
But not this year. Yesterday, I paid off my this month's balance. And 5 minutes ago, I called up MBNA to cancel my card. When asked why, I said, "Because your PAC overwhemingly donates to Republicans." The lady said, "What?" To which I rattled off the figures I listed in the letter listed below and said I could no longer in good conscious support a companies which aims to squeeze the middle class. She sort of did a "hmph" noise but proceeded to cancel my card.
Here is the letter I'm sending off to MBNA, copy it if you wish:
MBNA
P.O. Box 15720
Wilmington, DE 19850-5720
December 1, 2004
To Whom It May Concern,
I have been a customer of MBNA since the Fall of 1998. However, I recently cancelled my Platinum Plus MasterCard ending in 4519 because of MBNA's political leanings.
In 2000, MBNA was President Bush's top contributor. In 2004, MBNA's political action committee contributed more money than in 2000 but was only President Bush's sixth most generous contributor.
In addition, MBNA's political action committee overwhelmingly favors Republicans with a 71% donation rate to Republicans in 2004, 66% in 2002, 78% in 2000 and 78% in 1998.
I can no longer in good conscious support a company that favors policies which aim to undermine the middle class in this country. I was also disheartened to read that MBNA had been raising interest rates on people for no justified reason. The practice of universal default is unnecessarily squeezing Americans families. If this is how MBNA chooses to conduct their business, then I will choose to not do business with MBNA. And I have encouraged all my friends and family to do the same.
Sincerely,
Short and sweet. I even footnoted it with OpenSecrets.org URLS.