MBNA Transfer and Purchase Credit Card: The Basics

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Are you looking for a credit card to help spread out the cost of an upcoming expenditure? It can be challenging to find a reliable credit card that gives you instant benefits without a hassle. In today’s market, there are so many to choose from that it can be difficult to decern which one is right.

So, let us introduce you to the MBNA 0% Transfer and Purchase Credit Card; a simple, everyday credit card that has proven itself to be one of the best cards in the UK market.

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The MBNA 0% Transfer and Purchase Credit Card comes with a 0% introductory interest rate, zero annual fees and it is very user-friendly. Interested in finding out more? Let’s dig in and check out the features and benefits of this credit card and how you can apply today.

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The Basic Benefits

To start with, if you transfer your existing balance from a credit card with another bank to the MBNA Transfer and Purchase Credit Card, you can enjoy 0% APR for up to 27 months. On top of this, you can take advantage of the 0% introductory APR on purchases for up to 27 months. You will also be offered a low balance transfer fee of 2.69% for the first 60 days. In addition, there is no annual fee associated with this credit card.

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Other than these low rates on balance transfers and purchases, you can also rest assured your credit card purchases are secure. If you spot something unusual happening with your account or you lose your card, contact the bank immediately and they will ensure you won’t be liable for any fraudulent transactions. On top of this, you can keep track of transactions and manage your credit card online, wherever you are.

Finally, powered by Mastercard, this MBNA credit card makes shopping quick and easy. With its chip technology, you can make contactless transactions at any point of sale. For added convenience, simply add the credit card details to your mobile wallet and make purchases without even having your card on you.

What Happens When the Promotional Period is Over?

While you may be able to use your card worry-free for the first 27 months, it is essential to remain aware of when the promotional period expires. After the first 27 months, the interest rates on both purchases and balance transfers will rise to 20.93% (variable). If you are not conscious that your account has begun to accrue interest, charges may add up quickly.

The period of 27 months if quite a long promotion period, which is one of the chief benefits of this card. However, in those couple of years, cardholders may forget that their card will start earning interest eventually. Our advice is to set a reminder on your phone or computer to tell you when your interest-free period is almost over. This way, you can pay off any balance you are carrying and avoid high-interest charges.

Are You Eligible?

To be eligible, you must be at least 18 years of age, a permanent resident of the UK, and you must also have a stable income. To show that you are a UK resident, you need to provide at least 3 years of UK address history, an email address, phone number, bank account number and sort code.

Other requirements include:

  • You are free of County Court Judgements (CCJs), Individual Voluntary Agreements (IVAs) or bankruptcies
  • You are not unemployed or a student
  • You have not been declined an MBNA credit card within the last month
  • Finally, your credit rating and income are also taken into account

If you are eligible, applying for this credit card is fairly straightforward and should only take you a few minutes. To apply, simply visit the MBNA website and use the Clever Check option to see what you can apply for based on your eligibility.

An Overview of Fees and Charges

If you’re considering getting a credit card, it’s imperative to be organised with your payments. If not, you could face unwanted charges and damage to your credit score, which could make it harder for you to borrow again in the future.

  • $0 annual fee
  • 0% APR on balance transfers for 27 months, 20.93% p.a thereafter
  • 0% APR on purchases for 27 months, 20.93% p.a thereafter
  • 2.69% balance transfer fee for 2 months, 5% thereafter
  • 2.95% foreign usage fee
  • 5% cash advance fee
  • £12 late payment fee
  • £12 over limit fee

MBNA’s Address & Contact Details

Address: 25 Gresham Street, London EC2V 7HN.

To get in touch with MBNA, call 03456 062 062 or, if you are outside of the UK, call +44 1244 659 005.

Conclusion

If you’re looking for a simple credit card with zero introductory fees and rates to spread out the cost of an upcoming purchase, the MBNA 0% Transfer and Purchase Credit Card should be on your radar. Visit the MBNA website and use the Clever Check function to get started today. You can also keep shopping around and check out some of MBNA’s other credit cards.

Note: There are risks involved when applying for and using a credit card. Please see the bank’s Terms and Conditions page for more information. 

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