Credit cards Date:
MBNA has launched a new balance transfer credit card onto the market that gives customers the chance to secure a 0% balance transfer rate for a market-leading 39 months, seeing it soar straight to the top of the Moneyfacts charts.
MBNA Platinum 39 Month Balance Transfer Credit Card Visa offers the longest introductory balance transfer term available (complete with an introductory balance transfer fee of 2.98%), and it even boasts 0% money transfers for 20 months (with a 4% fee). However, customers should be aware that this card won't be around forever – it's a limited time offer and is only available until 12.2.16.
The finer details…
Balance and money transfers must be made within the first 60 days to be eligible for the introductory offers. After their respective introductory periods, balance transfers will be charged at a yearly rate of 20.9% and will attract a fee of 5%, while money transfers will be charged at 22.9% per annum with the same 5% fee.
Meanwhile, standard purchases will attract a charge of 18.9% APR. Borrowers must be at least 18 years old to apply and should remember that rates are representative and dependent on credit ratings.
Why we like it…
This balance transfer card has soared straight to the top of the charts with good reason, offering borrowers over three years to clear unwanted balances without interest adding to the bill. However, the limited edition nature of the card means that customers will need to act fast if they want to secure this market-leading deal. This is an outstanding product that truly deserves the highest Moneyfacts rating.
Moneyfacts rating: Outstanding
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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