You will not pay any interest for the first 26 months after opening the account on any purchases made within the initial 60 days. When you transfer a balance within the first 60 days you will receive the low rate of 0%, the standard rate is 20.93% P.A variable with a fee of 5%. The duration of this offer may differ depending on personal circumstances.
Balance Transfer 0% for 26 months with a 2.8% fee
Credit cards for bad credit you can trust
There are a lot of options when it comes to balance transfer credit cards, which is great news for anyone who is looking for a credit card with great rates. Recently, a lot of focus has been placed on credit cards for bad credit because of the increasing number of people who are struggling to get standard credit cards. However, that does not mean there aren’t also a tonne of fantastic balance transfer credit cards available for those with a good credit score. The MBNA credit card is one that is mentioned a lot and that is because it has a lot to offer users. If you take the time to conduct a credit card compare search, you will see that MBNA ranks alongside some of the more well known credit card options.
Who Can Apply For A MBNA Credit Card?
Though there are a number of credit card options to choose from, these are only available to those who meet the specific requirements and the MBNA credit card is no different. In order to be approved for the MBNA credit card, you must be a UK resident and over the age of 18. There is no minimum income but you do need to have a good credit score, something that will be considered on an individual basis.
What Does The MBNA Credit Card Offer?
- With the MBNA credit card, you can benefit from not paying any interest for 26 months on the purchases that you make in the first 60 days. This 26 month period starts from the date of opening the account, not from the date of the first purchase.
- The credit card offers a rate of 0% for 26 months with a 2.8% fee on all balance transfers. If you do not transfer a balance within 60 days of opening an account, you will not be able to take advantage of the deal. Without the deal, the balance transfer rate is much higher at 20.93% P.A variable with a 5% fee. The duration of the introductory offer may vary depending on your personal circumstances, with credit history and credit rating being taken into account.
- The MBNA credit card has an APR of 20.9% and this is fairly average for standard credit cards. It’s not exceptionally low, nor is it exceptionally high. This means choosing the MBNA gives you an APR that’s to be expected.
The MBNA credit card offers similar things to other credit cards such as an introductory rate of 0% on balance transfers for the first 26 months, an introductory rate of 0% on purchases made within the first 60 days and an APR of 20.9%. Though you won’t see this with all credit cards, the vast majority of credit cards aimed at people with good credit offer something similar. If you meet the requirements for the MBNA credit card and you need good balance transfers rates, it’s certainly an option that’s worth considering.