CHESTER, England, August 28, 2014 /PRNewswire/ --
Improvements include zero percent
p.a. for up to 13 months on all card purchases and up to 21 months
zero percent p.a. on balance transfers - both from account opening
date
MBNA has improved its Everyday Credit Card, designed to offer
eligible new consumers an all-in-one solution to their everyday
spending and debt consolidation
needs[1].
(Photo:
http://photos.prnewswire.com/prnh/20140828/703387 )
MBNA has increased the zero percent p.a. offer on card purchases
made on the card from eight months to 13 months from account
opening.
The zero percent p.a. offer on balance transfers has also been
increased from 18 months to up to 21 months from account opening,
now with a reduced 1.50 percent balance transfer handling fee
(reduced from 1.99 percent previously).
MBNA has also ensured the annual rate for card purchases on the
Everyday Credit Card remains competitive at just 14.9 percent p.a.
(variable).
The improved Everyday Credit Card is available to new applicants
on MBNA's website,
http://www.mbna.co.uk/credit-cards/mbna-everyday-credit-card/.
"The Everyday Credit Card is one of the most popular and
comprehensive all-round credit cards we've brought to market, and
we're pleased to be able to improve the offer for our UK
customers," said Michael Donald,
MBNA's Commercial and Customer Experience executive. "The card
offers a convenient solution for customers who want to take
advantage of a low APR, great promotional offers and low fees."
The credit card also features the eligibility
check[2], which enables consumers
to find out if they are eligible before applying for the card. As
part of the eligibility check a quotation search is carried out and
this won't show as an application for credit so won't affect their
credit rating. If they are not eligible, they may be offered an
alternative MBNA product to consider.
Once a full online application is completed, a decision could be
made in minutes. Once a customer is approved, their card should be
delivered within 10 business days.
The new MBNA Everyday credit card is also equipped with
contactless technology. Learn more at
http://www.mbna.co.uk/understanding-credit/contactless/.
Representative example: 14.9% p.a. (variable) on card
purchases. This is equivalent to 14.9% APR representative
(variable) based on a credit limit of £1,200.
Credit is available, subject to status, only to UK residents
aged 18 or over. Calls may be monitored and/or recorded for quality
and training purposes and for compliance with regulations.
[1] Transferring other debts to
the MBNA Everyday Credit Card and paying only the minimum amount
due each month may lower the overall monthly debt repayments, but
it may take longer and cost more to repay the outstanding balance.
Other lenders may charge a fee for settling a loan early.
Promotional rates will no longer apply from the beginning of any
statement period during which customers have breached their terms
and conditions, for example if they haven't paid on time or have
gone over their credit limit. Customers cannot transfer balances
between MBNA accounts.
[2]Eligibility for this card
depends on the customer's circumstances and the results of the
eligibility check. The product, APR and promotional offer customers
could get may vary from the example.
About MBNA Limited:
MBNA Limited is a wholly owned subsidiary of Bank of America
Corporation (NYSE: BAC). For more information, visit the company's
website at http://www.mbna.co.uk.
Editor and supplementary notes:
The information contained in this press release is intended
solely for journalists and should not be used by consumers to make
financial decisions. Any consumer interested in learning more about
any of this product should visit http://www.mbna.co.uk for full
terms and conditions.