Understanding credit

Read our simple guides to help answer any questions you might have around your borrowing needs

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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.

A guide to credit

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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.

Credit card or loan?

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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.

Find out more

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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.

Transfers made easy

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.

Help and support

Money worries

If you find you are worrying about money, managing your debt or the rising cost of living and energy prices, you really aren’t alone. Whatever support you need, we’re here to help.

Money worries support

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.