New Zero Transfer Credit Card From MBNA

MBNA have just launched a new zero transfer fee credit card with an introductory rate of 1.9 % for the first twelve months.

The no cost handling fee and discounted 1.9% rate will apply to all balance transfers and money transfers made in the first 90 days after the account has been opened.

After the first twelve months the standard variable interest rate for card purchases will come into force at 16.9 percent APR.

“MBNA is delighted to be launching this market-leading product, which offers no handling fees on balance and money transfers and a low rate for 12 months if they are made in the first 90 days.

“We know this is product will appeal to many of our customers, particularly those looking to pay down their debts over a short period with lower fees. We will continue to offer more value and choice among our UK card portfolio.”, said Will Curley, product executive for Bank of America Europe Card Services, which operates under the MBNA brand in the UK.

This is an internet only deal, so consumers looking to take advantage of this should visit the MBNA credit card website.

MBNA have been making a number of changes to their credit cards recently. A few weeks ago the company changed the way in which patments are allocated to customer credit card statements which means that from September 1, 2010, payments made to MBNA credit cards in the UK will go towards paying off balances with the highest interest charges first.