MBNA 0% credit cards comes up as a good option on the credit card calculator! IT MAY NOT BE FOR YOU

MallyGirl

If you have a big purchase you need to fund and pay off over 2 years then it is fine. It is not for ongoing everyday spending

MallyGirl

the offer has been confusing people for a while:
https://forums.moneysavingexpert.com/discussion/6079199/mbna-60-days-0-purchase
https://forums.moneysavingexpert.com/discussion/comment/76450663#Comment_76450663
https://forums.moneysavingexpert.com/discussion/comment/75974975#Comment_75974975

[Deleted User]

Those deals used to be very common.  They were very useful for large one off spends, such as a car or kitchen.

P1

Its more like a loan card then? They shouldn't be lumped in with 0% interest free purchase credits in my view.  They should be called one off purchase credit cards or something like that.  So annoying.  Diddled myself with a little bit of help from MBNA

P1

They are effectively different products sold as the same

Fighter1986

EmpressBlandings said:

@Fighter1986 It;s not about balance transfers but about purchases. It's marketed as 'free for 24 months' and all other (that I'm aware of) cards limit the interest-free time on transfers, but not purchases. This, as the OP says, somewhat hides the change (even on the copy of T&Cs I have, having a convenient page-break before the line 'charges commence after 60 days at standard rate').

Would be better if MSE clearly explained that too. It's NOT a traditional '0% on purchase' card.
And, before anyone points it out, 'yes. I should have read the full T&Cs'

OP didn't mention Purchases in his opening post, just "Payments", hence my reply. 

But now you have, you're right that it's a bit of a strange one. 

TadleyBaggie

P1 said:

Apart from me being an idiot who would sign up to that?  

Me, if I wanted to make a one-off large purchase and spread the repayments over 24 months.
I have a couple of other cards that I use and pay in full, both pay me rewards.

P1

Fighter1986 said:

EmpressBlandings said:

@Fighter1986 It;s not about balance transfers but about purchases. It's marketed as 'free for 24 months' and all other (that I'm aware of) cards limit the interest-free time on transfers, but not purchases. This, as the OP says, somewhat hides the change (even on the copy of T&Cs I have, having a convenient page-break before the line 'charges commence after 60 days at standard rate').

Would be better if MSE clearly explained that too. It's NOT a traditional '0% on purchase' card.
And, before anyone points it out, 'yes. I should have read the full T&Cs'

OP didn't mention Purchases in his opening post, just "Payments", hence my reply. 

But now you have, you're right that it's a bit of a strange one. 

I just thought it was just a standard purchase card. So odd.

MinuteNoodles

MallyGirl said:

the MBNA deal is 0% on purchases made in the first 60 days - that is not normal.

Yes it is, it's very normal. You get XX days where purchases are interest free for YY months.

cymruchris

P1 said:

And I'm not blaming this site either!  Just odd that that deal is even there.  Whats the point of it?!?!?!?

Well if someone was planning to go buy a new sofa, dining table and bed next week - it'd probably be quite a lot of use.