New Zero Transfer Fee* Credit Card Hits The Market From MBNA
Tuesday, 7 September 2010
Credit card provider MBNA gave consumers a double whammy last week with news of a great new card and new order of payment format. The Bank of America subsidiary has launched the MBNA Platinum card which offers no handling fee (and an introductory rate of 1.9 percent for 12 months) on all money and balance transfers.
* The only requirement is that you perform the balance transfer or money transfer within the first 90 days from account opening to receive the zero fee and low rate. As well as an unparalleled balance transfer deal; the standard rate of interest for card purchases is well below average at 16.9% APR (typical) variable.
When asked about the card's benefits to those wanting to reduce debt rather than move it about, Will Curley, from Bank of America Europe Card Services, which operates under the MBNA brand, said: "MBNA is delighted to be launching this market-leading product, which offers no handling fees on balance and money transfers and a low rate for 12 months if they are made in the first 90 days."
"We know this is product will appeal to many of our customers, particularly those looking to pay down their debts over a short period with lower fees, and we will continue to offer more value and choice among our UK card portfolio."
As well as the new low APR credit card, MBNA will also be helping customers get rid of expensive debts by changing the order of payment from 1st September. From that date onwards customer payments to their card will go towards higher interest balances first, then lower interest debts, therefore reducing overall interest accrued. The combination of debt reduction with attractive rates is sure to be popular and anyone interested in taking out the new credit card will need to visit http://www.mbna.co.uk to apply.
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