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MBNA launches 29-months 0% card

Macro shot of red credit card24/12/13

By Ian Barnsley

MBNA has launched a new credit card that allows customers 0 per cent interest on balance and money transfers for up to 29 months.

A balance transfer allows customers to move a debt from one credit card to another.

A money transfer allows consumers to move funds from a credit card to a current account, so can be a useful way to clear an overdraft, for example.

The 29-months 0% deal is is MBNA's longest ever credit card offer in the UK, and applies to transfers made in the first 60 days after an account is opened.

Interest-free on purchases for three months

The Platinum credit card includes 2.89 per cent and 4 per cent handling fees for balance and money transfers respectively.

The card also offers zero per cent interest on purchases for three months from the opening of the account.

"This new long-term balance transfer credit card is the longest we've ever offered in the UK," said Michael Donald of MBNA.

"We're delighted to be able to make it available for eligible new customers looking to get their finances in order after their Christmas spending or in the New Year."

Eligibility checker

MBNA's new eligibility checker allows consumers to find out whether they can get the offer without a registered credit search on their file before going ahead.

An online decision is provided within minutes and if approved the card will arrive through letter boxes within 10 days

Donald said: "We're constantly seeking ways to make life easier for consumers, and the new eligibility checker is designed to be a useful aid when they are considering a card."

MBNA is one of the biggest issuers of credit cards in the UK, including cards linked to some of the top football clubs in Britain, such as Manchester United, Chelsea, Liverpool and Arsenal.

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