CHESTER, England, November 10, 2014 /PRNewswire/ --
MBNA Platinum card offers eligible new customers zero percent p.a. on Balance Transfers for up to 32 months, and zero percent p.a. on Money Transfers for up to 24 months, both with a handling fee of 2.69 percent - applies to transfers made in the first 60 days of account opening
MBNA has launched an MBNA Platinum credit card offering 2.69 percent on all transfers - money transfers and balance transfers - made in the first 60 days of account opening.
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The card, available now on the MBNA website http://www.mbna.co.uk, offers eligible new customers zero percent p.a. on balance transfers for up to 32 months and zero percent p.a. 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 2.69 percent handling fee applies to both money transfers and balance transfers, £3 min).
Money transfers from MBNA are different to balance transfers in that, for a handling fee (in this case, 2.69 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 account[1].
"Unlike many other credit card providers in the UK, we offer a money transfer facility that enables customers to transfer some of their available credit into their current account," said Michael Donald, Commercial and Customer Experience executive for MBNA. "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/.
The credit card features an eligibility check, which enables consumers to find out if they are eligible before applying for the card[2]. As part of the eligibility check a quotation search is carried out and this won't show as an application for credit so won't affect their credit rating. If they 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 in minutes. Once a customer is approved, their 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/understanding-credit/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 they could get 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.
About MBNA Limited:
MBNA Limited is a wholly owned subsidiary of Bank of America Corporation (NYSE: BAC). For more information, visit the company's website at http://www.mbna.co.uk.
Editor and supplementary notes:
The information contained in this press release is intended solely for journalists and should not be used by consumers to make financial decisions. Any consumer interested in learning more about any of this product should visit http://www.mbna.co.uk for full terms and conditions.
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