$120/yr seems a bit insulting to anyone who currently has MBNA.

Sure, it's 1:1 but if you managed your spend accordingly, MBNA was same for first $30k.

Free cat 4 or below - again, insulting considering over the past few years, every hotel I would stay at has been ratcheted up to 5 or above (I remember when staying at the NY Hotel and Towers was a Cat 3! -- Now it's a 5 and last time I stayed there not much had changed). It's also only a single night.

Seems to me they would be foolish not to offer the 1st yr free to existing MBNA's. I understand they don't want to undercut their exisiting cardmembers but why alienate those who have been loyal for many years.

10,000 signing bonus might be worth something but MBNA basically gave me the same and it was free.

Gold Membership -- Not worth much considering they seem to give it away these days and it's been years since I was ever upgraded to anything of value ("oh no sir, not club level, just a room on a higher floor" -- with a wonderful view of our HVAC system).

Unless things change they can count me OUT!

Good Luck AMEX.