Bank of America’s MBNA UK unit has introduced a 0% APR on balance transfers and money transfers for up to 32 months from the account opening date on a new credit card. It is believed to be the longest ever 0% balance transfer credit card in the UK.
The new MBNA Platinum Credit Card will apply the offer to transfers made within the first 60 days of account opening. However, a 2.69% handling fee applies to balance transfers and a 4% fee applies to money transfers, with a £3 min.
MBNA noted promotional rates will no longer apply from the beginning of any statement period during which customers have breached their terms and conditions, particularly late payments on exceeding credit limits.
The credit card also features the eligibility check, which enables consumers to find out if they are eligible before applying for the card.
The new MBNA Platinum credit card is also equipped with contactless technology.
MBNA was named Credit Card Provider of the Year after a vote among UK consumers, in the Consumer Moneyfacts Awards 2014.
For more data on MBNA Investigations access CardData®. For information and commentary on MBNA Investigations visit the searchable CardFlash® Library of more than 58,000 articles published since 1995. Custom RAM Research® projects on MBNA Investigations are available exclusively through CardWeb.com.®