New MBNA card.

jckh14

Just to let people know I've noticed MBNA have just brought out a new card today and it looks like MBNA are trying to appeal to people looking for an alternative to a loan.

-A low rate of 4.9% p.a. on transfers and card purchases for up to 5 years
- 0.5% handling fee on transfers (within 60 days)
- Standard rate of 8.9% p.a

What do people think

PS I thought MBNA were trying to exit the UK market and sell there credit card?

[Deleted User]

They are. But they need to have something good to sell.

guesswho2000

jckh14 wrote: »

Just to let people know I've noticed MBNA have just brought out a new card today and it looks like MBNA are trying to appeal to people looking for an alternative to a loan.

-A low rate of 4.9% p.a. on transfers and card purchases for up to 5 years
- 0.5% handling fee on transfers (within 60 days)
- Standard rate of 8.9% p.a

What do people think

PS I thought MBNA were trying to exit the UK market and sell there credit card?

Sounds ok but not amazing. The ongoing rate isn't too bad, but why charge the 0.5% fee? You can also get 0% on purchases for ~27 months, and 0% balance transfers with no fee for around 2 years, which is easily better than this, but does, of course, rely on the latter still being around in 27 months to transfer to!

As another comparison, as an existing customer, MBNA have been offering me 4.9% for life on Balance and Money transfers, with no fee, for the last few months.

bengalknights

This is normal for MBNA they tend to have one new offer every few months