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What is a representative example?

What is a representative example?

When you apply for credit, you’ll see something called a representative example.

The rate shown is what a minimum of 51% of customers will pay on the credit card or loan and also shows what fees are payable (not default fees). It needs to state if an APR or interest rate is fixed or variable and give you a good idea of how much the credit card will cost you.  A representative example helps you compare credit and come to a decision about whether a particular credit facility is right for you.

When you come to MBNA, you’ll see the representative example for every one of our credit cards for you to compare. We understand how important your decision is so we make it as easy as we can. You’ll also find a wealth of information on how credit works, how to make your credit file better and a choice of credit cards with different features and benefits perfect for you.