MBNA brings "More Rewards" to UK consumers
Rewards are the single most important factor when consumers are looking for a new credit card, consumer research commissioned by MBNA suggests.
A total of 29 percent of consumers surveyed highlighted rewards - including reward points - as the key element they look for when searching the market for a new credit card, followed by a low annual percentage rate (APR), highlighted by 13 percent of those surveyed.
The findings come as MBNA launches the new MBNA More Rewards Credit Card Account, offering new customers two cards on one account and huge reward earning potential on all of their spending. It comes with a market-leading representative rate for reward cards of 12.9 percent APR (variable).
Michael Donald, MBNA's Business Development and Marketing executive, said: "MBNA More Rewards offers new customers the opportunity to get something back on all of their spending. Unlike many other loyalty credit card programmes, there is no limit on the amount of points customers can earn, or the type of spending that will earn them points."
MBNA More Rewards offers customers successfully applying for the account one credit limit and two contactless-enabled credit cards - an MBNA More Rewards American Express credit card and an MBNA More Rewards Visa credit card - enabling them to earn rewards any time they spend on the cards virtually anywhere in the world.
New customers will earn two reward points for every £1 spent with their MBNA More Rewards American Express credit card, or one reward point for every £1 spent on their MBNA More Rewards Visa credit card. For the first three months, customers can earn double points on both cards.
Donald added: "MBNA More Rewards is a great example of how we're listening and responding to our customers. They are telling us they want compelling rewards, and MBNA More Rewards delivers that by enabling them to earn every time they use their cards for spending. Consumers are also seeking a lower APR and MBNA More Rewards delivers that with a very competitive APR of just 12.9 percent."
To coincide with the launch of MBNA More Rewards, MBNA has developed a new-look rewards platform offering up to 35,000 different redemption options.
Donald continued: "The new-look rewards platform we've developed enables customers to use the points they accrue to redeem against a huge selection of rewards - around 35,000 options including high street vouchers, home entertainment and luxury experiences among many others."
More details on the new MBNA More Rewards Credit Card Account are available at mbna.co.uk/credit-cards/mbna-more-rewards/
Representative example 12.9% p.a. variable on card purchases. This is equivalent to 12.9% APR representative variable based on a credit limit of £1200.