I avoid this by using a check/debit card. Works for me up to $700 per day.
John Dunn in Napa Valley
> Thought you might be interested...
>
> MBNA changes
> the rules
> I received an insert with my last credit card statement (MBNA Platinum
> MasterCard) that listed several "amendments to the original agreement" --
> all increases in fees, of course. One that was well hidden:
Person-to-person
> money transfers will now be subject to cash equivalent transaction fees.
> Huh? I called to find out what this means, and here is the explanation:
> Paying for things using online services like PayPal will now be treated
like
> cash advances, not purchases. That means no grace period applies to these
> kinds of convenience transactions plus a 3- to 5-percent per transaction
> cash advance fee and the interest rate is higher on cash advances.
> Unfortunately, this change is being quietly slipped in without the average
> consumer even realizing what it means. Online shoppers will continue to
shop
> as they have in the past and only notice the new terms after it's too
late.
>
> Interesting huh,
> Mike