MBNA has enhanced the MBNA Platinum credit card, now offering a handling fee of 2.20 percent on all transfers – money transfers and balance transfers – made in the first 60 days of account opening.
“We have enhanced our Platinum credit card by reducing the fee to 2.20 percent,” said Michael Donald, Commercial and Customer Experience executive at MBNA. “Unlike many other credit card providers in the UK, we also offer a money transfer facility that enables customers to transfer some of their available credit into their current account. For a 2.20 percent fee, this money could be interest-free for up to 24 months for eligible customers.”
The card, available now on the MBNA website www.mbna.co.uk, offers eligible new customers zero percent per annum on balance transfers for up to 32 months and zero percent per annum on money transfers for up to 24 months – both from account opening date. The offer applies to transfers made within the first 60 days of account opening (the 2.20 percent handling fee applies to both money transfers and balance transfers, £3 min).
Money transfers from MBNA are different from balance transfers in that, for a handling fee (in this case, 2.20 percent, £3 min), they enable new customers to transfer money from their credit card account (maximum 95 percent of their available credit limit) into their bank or building society account1.
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.