Understanding credit
Read our simple guides to help answer any questions you might have around your borrowing needs
What is credit?
Put simply, credit is borrowing money and repaying it back over a period of time, usually with interest on top. Everything you borrow will show on your credit file. In the guide below, you can learn how to build and look after your credit score (this is like a snapshot of your credit file), which is important for borrowing now and in the future.
Applying for a credit card or loan
Before you apply for credit, you need to think about whether a credit card or personal loan will suit your borrowing needs best. Find out how to do this here, as well as what you need to know about eligibility checks and interest rates.
Managing your credit card or loan
Once you’re up and running, it’s important to manage everything carefully. This includes making regular repayments, dealing with your future credit needs and understanding any fees and charges that might apply.
Understanding transfers
Credit cards offer a range of flexible services, including the option to transfer balances between cards or to your bank account. To find out more details about this and how to make transfers, select the link below.
Extra help with your finances
Borrowing can be a useful way to fast track your plans, but it’s important to stay on top of things. It’s also good to know what to do if your circumstances change, and what extra help and support might be available.
Some helpful organisations
There are lots of organisations out there who can offer you help and advice with credit management, including:
Important: the contents of these pages are not intended to be taken as financial advice or recommendation made by MBNA. You should seek independent financial advice if unsure about your financial needs.