CHESTER, England, April 14, 2014 /PRNewswire/ --
Chester, UK: MBNA has launched
its longest ever balance transfer credit card, offering
eligible[2] new customers 0
percent p.a. on balance transfers and money transfers for up to 30
months from the account opening
date[3] (handling fees apply).
(Photo:
http://photos.prnewswire.com/prnh/20140414/680858 )
"This new long-term balance transfer credit card is the longest
we've ever offered in the UK, and we're delighted to be able to
make it available for eligible new customers. It's a fantastic
opportunity for consumers who may be looking to better manage their
finances", said Michael Donald,
Marketing and Commercial executive for MBNA.
The offer applies to transfers made within the first 60 days of
account opening (a 2.89 percent handling fee applies to balance
transfers and a 4 percent fee applies to money transfers).
The card also offers zero percent p.a. on purchases for three
months from the date the account is opened.
The new MBNA Platinum credit card is available for consumers to
apply for now at http://www.mbna.co.uk.
The credit card also features the eligibility check, which
enables customers to find out if they are eligible before applying
for the card without it affecting 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.
MBNA also offer a balance transfer
calculator[4] to help consumers
estimate the potential interest savings they could make over the
promotional period by transferring other balances to an MBNA
Platinum Credit Card. The calculator is available on desktop,
tablet or mobile at http://www.mbna.co.uk/choose-credit-card/.
"Choosing the right credit card is an important decision and we
hope people find the balance transfer calculator a useful aid",
added Donald. "It is part of our ongoing commitment to making life
easier for those we serve now, and for those we hope to serve in
the future."
The new 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] MBNA named Credit Card
Provider of the Year after a vote among UK consumers, in the
Consumer Moneyfacts Awards 2014.
[2] 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.
[3] 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.
[4] The calculator gives
estimated savings only and is for illustrative purposes. Consumers
are informed that their existing balances may be made up of amounts
attracting different rates. Savings shown can only be calculated on
the rate provided by the user and on the balance transferred,
assuming that minimum repayments are made in line with MBNA's terms
and conditions.
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.
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.