MBNA reduces fee on 20-month zero per cent balance transfer deal

MBNA has reduced the balance transfer handling fee on its longest ever balance transfer credit card. The MBNA Platinum Credit Card offers zero per cent interest for 20 months for new customers, now with a reduced balance transfer handling fee of 2.85 per cent.

The new MBNA Platinum Credit Card offers zero per cent interest on balance transfers and money transfers for 20 months from the date the account is opened.

To qualify for the 20 month offer, balance transfers and money transfers will need to made within the first 60 days of opening the account (the 2.85 per cent handling fee applies to balance transfers. A four per cent fee applies to money transfers).

The card also offers zero per cent on purchases for three months from the date the account is opened.

The MBNA Platinum Credit Card has a representative rate of 16.9 per cent APR variable. Representative example 16.9% p.a. variable on card purchases. This is equivalent to 16.9% APR representative variable based on a credit limit of £1200.

Michael Donald, Business Development and Commercial Executive for MBNA, said: "We are pleased to offer new customers a reduced balance transfer handling fee on our longest ever balance transfer product and to give more value to consumers looking for an alternative to some of the higher handling fees available in the UK market.

"We are committed to offering more great deals and more choice and we hope people consider MBNA credit cards when they are deciding on a credit card to suit their needs. Sometimes it pays to come directly to us, so I'd encourage more people to visit our website for some of our best deals and to see what products we can offer them."

Consumers can apply for the deal directly at mbna.co.uk/credit-cards/mbna-credit-card/