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MBNA platinum credit card offers 2.48 percent fee

Date: 6th Aug 2015 | Posted in: Financial News, News

MBNA Platinum credit card offers 2.48% fee on balance transfers and 4% fee on money transfers

Chester, UK: MBNA has launched an MBNA Platinum credit card offering 2.48 percent on all balance transfers and 4 percent on money transfers made in the first 60 days of account opening.

The card, available now on the MBNA website www.mbna.co.uk, offers eligible new customers zero percent p.a. on balance transfers for up to 36 months and zero percent p.a. on money transfers for up to 20 months – both from account opening date. The offer applies to transfers made within the first 60 days of account opening (the 2.48 percent handling fee applies to balance transfers and 4 percent to money transfers with a £3 min.).

Money transfers from MBNA are different from balance transfers in that, for a handling fee (in this case, 4 percent with a £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.

Unlike many other credit card providers in the UK, MBNA offers a money transfer facility that enables customers to transfer some of their available credit into their current account. This MBNA Platinum credit card is part of a commitment by MBNA to offer a broad range of products that can help make life easier for consumers to manage their finances.

The MBNA Platinum credit card is available for consumers to apply for now at https://www.mbna.co.uk/compare-credit-cards/balance-transfer-credit-cards/mbna-platinum/.

The credit card features an eligibility check, which enables consumers to find out if they are eligible before applying for the card2. As part of the eligibility check, a quotation search is carried out – this won’t show as an application for credit or affect  applicants’ credit rating. If applicants 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 within minutes. Once a customer is approved, a card should be delivered within 10 business days.

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

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.

2 Eligibility for the card depends on a customer’s circumstances and the results of the eligibility check. The product, APR and promotional offer a customer could receive may vary from the example.

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.