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January 3, 2017

MBNA introduces new balance transfer credit card

MBNA, a UK-based credit card provider, has launched a new credit card to help customers consolidate their post-Christmas debts and card balances.

By Verdict Staff

MBNA, a UK-based credit card provider, has launched a new credit card to help customers consolidate their post-Christmas debts and card balances.

The new offering, MBNA Balance Transfer Credit Card, provides up to 43 months at zero per cent on balance transfers, if the transfer is carried out at the start of the offer window.

The cardholders will get £20 cash back when they transfer £1,000 or more in the first 60 days of opening an account, according to MBNA.

The users will have to pay a competitive 3.29% balance transfer handling fee for the card.

MBNA marketing and digital director Richard Whatmough said: “Many people's new year's resolutions are focused on consolidating their debts and card balances at this time of year, so we've looked to offer a compelling new option in time for January – and it's our best ever balance transfer offer.

"Not only is 43 months at zero per cent our longest ever, but we've added a special £20 cash back offer and retained competitively low handling fees for customers looking to manage down the cost of borrowing in the new year and beyond.

"When the value of this offer is put into these types of numbers, we think this is an incredibly attractive option for many people aiming to improve their financial fitness this January.

Additionally, new customers can transfer money into their current account using the new credit card and pay no interest for a period of 20 months.

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