(1 of 4) [12/27/2005 5:01:08 PM] MBNA.com - If you're into it, we're into it. that offer credit cards are changing their minimum payment calculation in a similar fashion during the next several months. The result will be that minimum payments will be calculated very similarly across most credit card companies.<br><br> Top What is the purpose in changing the minimum payment calculation? The new minimum payment calculation is designed to help those Customers, who only make a minimum monthly payment, repay their account balance faster. Top How is my minimum payment calculated today?<br><br> Typically, your minimum payment is based on either fees plus finance charges plus $15, or 2.25% of your balance, whichever amount is less. Top How will my minimum payment be calculated under the new regulatory guidance? The new minimum payment calculation focuses on paying a higher percentage of your balance.<br><br> Generally, it will be 1% of the balance, plus finance charges, plus late fees, if any. It will never be more than 5% of the balance. We will also round the payment down to the nearest dollar.<br><br> Top Can you provide some examples of how the new calculation works for most accounts? Example 1: http://www.mbna.com/services/minpaychange.html (2 of 4) [12/27/2005 5:01:08 PM] MBNA.com - If you're into it, we're into it. Customer Balance = $3,500 Late Fee = None The Customer 9s payment would be: 1) Late Fee + Finance Charges + 1% of the final balance* = Total $0 + $49.55 + $34.50 = $84 Example 2: Customer Balance = $3,500 Late Fee = $39.00 The Customer 9s payment would be: 1) Late Fee + Finance Charges + 1% of the final balance* = Total $39 + $49.55 + $34.11 = $122 *Note: The final balance is calculated by taking the "New Balance Total" shown on your statement, and subtracting late fees and APR finance charges.<br><br> This is the final balance that is used for the 1% calculation. Top Is there a limit to the amount of the total minimum payment due? Yes.<br><br> Generally, the highest amount is 5% of your balance. The lowest amount is $15. If you have a past due amount, the required payment could be higher than 5%.<br><br> Top Does this change impact me if I pay my account in full every month by my due date? No. If you pay in full every month, you should not feel impacted by the change.<br><br> Your monthly billing statement will simply show the increased minimum payment. Top http://www.mbna.com/services/minpaychange.html (3 of 4) [12/27/2005 5:01:08 PM] MBNA.com - If you're into it, we're into it. What should I do if I use a bill payment service to pay my account?<br><br> We recommend that if you only make minimum monthly payments, you contact your bill payment service and advise them of the new minimum payment amount. Top When is the new minimum payment calculation effective? For most accounts, this change will be effective with the minimum payment on the December 2005 billing statement.<br><br> Top What should I do if I still have questions or concerns about the new minimum payment calculation? You may contact one of our knowledgeable account managers at 1-800-421- 2110, 24 hours a day, 7 days a week. Top Terms of Use | Privacy © 2005 MBNA Corporation http://www.mbna.com/services/minpaychange.html (4 of 4) [12/27/2005 5:01:08 PM]<br><br>

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