Monthly interest

princesmd

Hi, can anyone advise me on what my monthly interest charge will be on a MBNA credit card, 36 months at 3.9% please? Thanks in advance.

[Deleted User]

Balance amount?

princesmd

Sorry, £1000.

[Deleted User]

Assuming there's no fees that help make up the APR, around 0.33% per month.

princesmd

0% balance transfer at 3.9% over 36 months

[Deleted User]

£3.33 per month

princesmd

Thank you����

Leew89

I assume the 0% means you pay no monthly interest on that £1000 for 36 months and the 3.9% is the transfer fee on the amount you are moving. So a flat fee of 39 quid?

Nebulous2

Leew89 wrote: »

I assume the 0% means you pay no monthly interest on that £1000 for 36 months and the 3.9% is the transfer fee on the amount you are moving. So a flat fee of 39 quid?

MBNA do a fee-free money transfer for 3 years at a low APR. This sounds more likely to be that than what you are suggesting. It's very unlikely to get 36 months 0% nowadays.

Leew89

Nebulous2 wrote: »

MBNA do a fee-free money transfer for 3 years at a low APR. This sounds more likely to be that than what you are suggesting. It's very unlikely to get 36 months 0% nowadays.

Ah, that makes sense.

Yes, on second thoughts 36 months interest free would be very generous at present!