MBNA has launched a new
credit card which has no charge for balance transfers and offers low interest rates.
As well as incorporating no fee for moving existing debt over, the Platinum card offers an introductory rate of 1.9 per cent for 12 months on purchases.
The new card – which has a standard interest rate of 16.9 per cent APR – is likely to prove popular in a highly-competitive market where 18 per cent interest rates are increasingly common.
Will Curley, product executive for Bank of America Europe Card Services, which operates under the MBNA brand in the UK, said his organisation is “delighted” to lauch the new product which offers a range of savings to customers.
"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, and we will continue to offer more value and choice among our UK card portfolio," he said.
MBNA recently unveiled a new facility which allows customers to check their
credit card balance via their mobile phone.
