Credit Card Provider of the Year[1]MBNA Launches new Platinum Credit Card Offering Zero Percent p.a. for up to 30 Months

PR Newswire

CHESTER, England, April 14, 2014 /PRNewswire/ --



Chester, UK: MBNA has launched its longest ever balance transfer credit card, offering eligible[2] new customers 0 percent p.a. on balance transfers and money transfers for up to 30 months from the account opening date[3] (handling fees apply).

     (Photo: http://photos.prnewswire.com/prnh/20140414/680858 )

"This new long-term balance transfer credit card is the longest we've ever offered in the UK, and we're delighted to be able to make it available for eligible new customers. It's a fantastic opportunity for consumers who may be looking to better manage their finances", said Michael Donald, Marketing and Commercial executive for MBNA.

The offer applies to transfers made within the first 60 days of account opening (a 2.89 percent handling fee applies to balance transfers and a 4 percent fee applies to money transfers).

The card also offers zero percent p.a. on purchases for three months from the date the account is opened.

The new MBNA Platinum credit card is available for consumers to apply for now at http://www.mbna.co.uk.

The credit card also features the eligibility check, which enables customers to find out if they are eligible before applying for the card without it affecting their credit rating. If they are not eligible, they may be offered an alternative MBNA product to consider.

Once a full online application is completed, a decision could be made in minutes. Once a customer is approved, their card should be delivered within 10 business days.

MBNA also offer a balance transfer calculator[4] to help consumers estimate the potential interest savings they could make over the promotional period by transferring other balances to an MBNA Platinum Credit Card. The calculator is available on desktop, tablet or mobile at http://www.mbna.co.uk/choose-credit-card/.

"Choosing the right credit card is an important decision and we hope people find the balance transfer calculator a useful aid", added Donald. "It is part of our ongoing commitment to making life easier for those we serve now, and for those we hope to serve in the future."

The new MBNA Platinum credit card is also equipped with contactless technology. Learn more at http://www.mbna.co.uk/understanding-credit/contactless/.

Representative example: 18.9% p.a. (variable) on card purchases. This is equivalent to 18.9%APR representative (variable) based on a credit limit of £1,200. 

[1] MBNA named Credit Card Provider of the Year after a vote among UK consumers, in the Consumer Moneyfacts Awards 2014.

[2] Credit is available, subject to status, only to UK residents aged 18 or over. Calls may be monitored and/or recorded for quality and training purposes and for compliance with regulations.

[3] Transferring other debts to the MBNA Platinum Credit Card and paying only the minimum amount due each month may lower the overall monthly debt repayments, but it may take longer and cost more to repay the outstanding balance. Other lenders may charge a fee for settling a loan early.

[4] The calculator gives estimated savings only and is for illustrative purposes. Consumers are informed that their existing balances may be made up of amounts attracting different rates. Savings shown can only be calculated on the rate provided by the user and on the balance transferred, assuming that minimum repayments are made in line with MBNA's terms and conditions.

Promotional rates will no longer apply from the beginning of any statement period during which customers have breached their terms and conditions, for example if they haven't paid on time or have gone over their credit limit. Customers cannot transfer balances between MBNA accounts.

About MBNA Limited: 

MBNA Limited is a wholly owned subsidiary of Bank of America Corporation (BAC). For more information, visit the company's website at http://www.mbna.co.uk.

Editor and supplementary notes: 

The information contained in this press release is intended solely for journalists and should not be used by consumers to make financial decisions. Any consumer interested in learning more about any of this product should visit http://www.mbna.co.uk for full terms and conditions.

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