CHESTER, England, October 22, 2012 /PRNewswire/ --
UK-based credit card lender MBNA is today launching a new
14-month balance transfer credit card offer with its lowest fee -
just 1.25 per cent.
(Photo:
http://photos.prnewswire.com/prnh/20121022/568263 )
The new low-fee MBNA Platinum Credit Card is available for UK
consumers exclusively on MBNA's website http://www.mbna.co.uk
New customers will receive 14 months at zero per cent interest
on balance transfers with the new card, as long as they are made
within the first 60 days of opening an account. The 1.25 per cent
handling fee that applies to these balance transfers is the lowest
MBNA currently offers in the UK.
Thomas Rebel, Product Marketing
executive for MBNA, said: "We've developed this low-fee credit card
for consumers looking to repay existing balances within 14 months,
but without the higher initial outlay associated with some of the
more headline-grabbing, longer-term deals available in the UK
credit card market.
"We've listened to our existing and potential customers, and we're
interested to gauge the consumer appeal of low-fee products like
this. By offering exclusive deals on our website, we're able to
give more value to consumers searching out the best credit cards
deals. Plus, what you see is what you get. Everyone who
successfully applies for this product will get this promotional
offer."
The contactless credit card enables customers to wave and pay for
purchases of £20 and under. It also offers a money transfer option,
allowing customers to transfer some of their card limit into their
current account, which could be used to help reduce the higher rate
interest charges they may pay on other debts, overdrafts or loans.
The 14-month zero per cent interest offer applies to money
transfers as long as they are made within the first 60 days of
opening account and a four per cent fee will apply.
Representative example 16.9% p.a.
variable on card purchases. This is equivalent to 16.9% APR
representative variable based on a credit limit of £1200.
Picture Caption: The new low fee MBNA Platinum Credit
Card
About MBNA Europe Bank:
MBNA Europe 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.