MBNA releases new 0% balance transfer card | Product News - Moneyfacts

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MBNA releases new 0% balance transfer card

MBNA releases new 0% balance transfer card

Category: Credit cards
Date: 26/02/2015

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

MBNA has unveiled a new card offering an extended period of 0% interest on balance and money transfers, making it a competitive force in the market.

The basics…

Fluid 33 Month Balance Transfer Card Visa offers a lengthy 33 months of 0% interest on balance transfers, along with 20 months of 0% interest on money transfers. Up to 50 days of interest-free purchases are also offered.

The finer details…

After the introductory period ends, the standard purchase rate increases to 18.9% APR while the standard balance transfer and money transfer fees rise to 20.9% and 22.9% per annum respectively.

Transfers must be made within 60 days to benefit from the deal and will command reduced introductory fees of 2.88% for balance transfers and 4.00% for money transfers. Once this introductory period expires, transfer fees for both balance and money transfers rise to 5.00%.

A complimentary 12-month McAfee Online Banking Suite is offered to existing MBNA customers who register for online card services.

Borrowers must be at least 18 years old to apply for this card. Applications must be made online, but the card can then be managed online, by phone, by post and by Smartphone app. Applicants should remember that the rates are dependent on their credit rating.

Why we like it…

The offer of a 33-month 0% interest balance transfer period, along with a lengthy 20-month money transfer timeframe, is certainly likely to appeal to those who wish to reduce the cost of their credit card borrowing. Although not the longest 0% terms in the market, the reduced fees add to the appeal and are sure to catch the eye of borrowers.

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 Any products featured may be withdrawn by their provider or changed at any time.

 

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 Any products featured may be withdrawn by their provider or changed at any time.

 
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