MBNA Everyday Plus vs. Halifax Clarity

sharp910sh

Yes the interest rate is only 7.4% but the exchnage rate could be worse.

NoodleDoodleMan

Apologies - I'm not clued up on this aspect as I've never drawn money from an ATM on a credit card.

The MBNA Amex blurb states that there are no fees in the UK or abroad.

So what interest is added if you take cash from a hole in the wall ?

How do you calculate it at a daily rate ?

SuperHan

NoodleDoodleMan wrote: »

Apologies - I'm not clued up on this aspect as I've never drawn money from an ATM on a credit card.

The MBNA Amex blurb states that there are no fees in the UK or abroad.

So what interest is added if you take cash from a hole in the wall ?

How do you calculate it at a daily rate ?

There are no fees, but cash withdrawals do not benefit from the c. 60 days interest free like purchases do. As such, interest starts accruing on the date the cash is withdrawn and not from the next payment due date.


To calculate the interest, you would do the following:


GBP value of withdrawal x interest rate x (number of days between withdrawal and payment divided by 365)


It's only ever likely to be a few pounds at most.

NoodleDoodleMan

Thanks SH.

MiraculousM

Quick question- is this no longer available?

its been taken off the credit card list page and when i search it on google you cant get to the page.

OOOO

I asked MBNA about this and was told it has been removed and no plans to be reinstated. But my google search does show the following so hopefully one will be available again soon

MBNA Everyday Plus Amex Credit Card – Coming Soon | MBNA
https://www.mbna.co.uk/compare-credit-cards/low-rate-credit.../everyday-plus/
We're nearly ready to reveal a new MBNA Everyday Plus American Express® credit card. There's not long to wait…

MiraculousM

is this credit card no longer available? i have one and am worried the terms and conditions will change. Any search for the american express card does not come up.. did i just get lucky in applying fast enough?

I might get the creation one now as a back up and use this one as a back up back up haha (as this was used as my back up for the clarity)

MiraculousM

I hope they dont get rid of the free purchases/cash withdrawals abroad

System

With the interchange caps, there is little benefit for MBNA in issuing Amex now and all the hassle with lower Amex acceptability in many countries etc

MiraculousM

i am slightly dumb in this aspect- what happens now to people that already have this? will they get rid of this card?