CREDIT CARDS

New MBNA Balance Transfer Credit Card

A new balance transfer credit card has been launched by MBNA offering customers 19 months zero percent on balance transfers.

This 0% interest free period is the longest deal MBNA have produced, and this MBNA Platinum Balance Transfer credit card also offers a highly competitive 2.5 percent handling fee when transferring the balance to the new credit card.

New customers will be able to take advantage of the new deal which is available now for the next four weeks until 18 July 2011.

“The length of the offer is not the only element of a deal UK consumers should consider when opting for a new balance transfer credit card,” said Ian O’Doherty, Bank of America Europe Card Services which operates the MBNA brand.

“This card enables customer to transfer, for a low fee, money into their current accounts to enable them to pay off or save money on other higher interest bearing debts they may have.”

The credit card’s representative rate is 16.7 percent APR variable, and is a contactless enabled card so users can simply tap the card at contactless terminals for purchases under £15 without having to enter a PIN.

There is also a three month period of 0 percent interest free on all purchases too.

Balance Transfer Credit Cards

If you are on the lookout for a means to transfer your existing debt on a credit card then a balance transfer credit card is one of the best ways to manage this.

There are many offers on the market at the moment offering long periods of interest free on transfers, and often on purchases too.  So if you want to borrow money, then the later would be something that may interest you more.

The representative APR variables however do rise quite significantly after this interest free period finishes, so make sure you clear the debt by that point.

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