MBNA Platinum Card 0% for 32 Months!

BaronRidgeback

Just got acceptance for the following:-

MBNA Platinum credit card - Introductory offer:

- Purchases - 0% for 3 months
- Balance Transfers - in first 60 days, 0% for 32 months (2.69% handling fee).
- Money Transfer to my current account - in first 60 days 0% for 32 months (4% handling fee).

Every month the minimum repayment is £25 or 1% of outstanding debt, whichever is greater.

As a short term loan (money transfer) this strikes me as a good value way of borrowing (£5k in my case - £200 fee, £157 / month).

grumbler

And your point is.... ?

The card is listed in MSE article and, I think, on all comparison websites.

• Balance Transfer Credit Cards

Congratulations though...

Helen_1990_2

I hope you get a better experience with MBNA than I have. Nothing but hassle since my credit card application was approved which has culminated in me writing a full written complaint to them!

planteria

sorry to read that Helen. i have had one or more MBNA cards for about 15 years, and have had consistently good service and deals from them. they are nothing like Amex, service-wise, but i don't expect them to be.

YorkshireBoy

BaronRidgeback wrote: »

(£5k in my case - £200 fee, £157 / month).

£5,200 over 32 months is actually £162.50 a month.

However, why would you pay so much when you could pay only £52 a month (at the outset, and then reducing over time) and save the other £110 a month (5-6% AER currently available). Then, in 2017, withdraw the cash, repay the balance, and pocket the interest.