Anorak News | Card Provider MBNA Launch Two New Products In UK

Card Provider MBNA Launch Two New Products In UK

by | 6th, October 2010

Sponsored post from MBNA

Bank of America subsidiary MBNA has announced the launch of two brand new cards for the UK market, both of which come with lengthy 0% balance transfer periods. They provide holders with market leading credit card offers, one aimed at customers seeking a balance switch*; and the other for those wanting both a transfer and purchase package.

Speaking about the new cards, Will Curley, product executive for Bank of America Europe Card Services, said: “We know from speaking to our customers, and potential customers, that they are looking for credit card lenders to deliver greater choice and better offers to the UK credit card market. Once customers are approved for one of our cards, they will be able to transfer a balance of up to 95% of their credit limit, as the cap MBNA sets on balances transfers is higher than most other lenders in the UK market.”

The new MBNA Balance Transfer credit card comes with 0% on balance transfers for 16 months (made within the first 60 days from account opening) as well as 0% on card purchases for the first three months. It has a transfer fee of just 2.9% and a lower than average standard interest rate of 16.8% APR (typical) variable.

The second card, called the MBNA Dual credit card gives holders 0% for 12 months on both balance transfers and card purchases. Transfers must be made within the first 60 days and a low 2.98% handling fee for balance and money transfers applies. The standard rate of interest is 18.9% APR (typical) variable.

Speaking about the additional benefits of being with MBNA UK, Mr Curley said: “We are one of only a handful of UK lenders who already allocate our customers’ repayments to their highest interest-bearing balances first; we stopped issuing credit card cheques all together earlier this year, we are developing new and exciting improvements to our mobile and online channels, and we are continuing to deliver a suite of products that offer real value for customers.”

Those interested in applying for either credit card can do so at MBNA’s website:

* Note: As of 3pm on Thursday 23rd September 2010

Posted: 6th, October 2010 | In: Money Comments (7) | TrackBack | Permalink