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New MBNA 16-month 0% balance transfer deal

New 0% offer is a Which? Best Rate deal

MBNA has launched two new credit card deals, both of which are new Which? Best Rates – one for 0% on purchases and one for 0% balance transfers.

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Unless you really need to, try not to withdraw cash using your credit card – the interest rates are eye-wateringly high

16 months at 0% on balance transfers

The new MBNA Balance Transfer credit card offers 0% on balance transfers for 16 months from account opening, equaling the best deal on the market from Barclaycard. Balance transfers attract a 2.9% handling fee and must be made within the first 60 days of holding the card.

The credit card also offers 0% on purchases for the first three months. After this period, the standard rate of interest is 16.8% APR (typical) variable.

12 months at 0% on both balance transfers and purchases

The second new deal from MBNA is the MBNA Dual credit card, offering 0% for 12 months on both balance transfers and card purchases from account opening.

A 2.98% handling fee applies to balance transfers and money transfers, which must be made within the first 60 days. The standard rate of interest on the card is 18.9% APR (typical) variable.

Great deals but poor customer service

Which? credit card expert, Martyn Saville, commented: ‘If you have existing credit card debt and are looking for the longest 0% balance transfer deal, the MBNA Balance Transfer card is a strong contender. If you want to transfer a balance and use the same card for spending, the Dual card is a good choice – it doesn’t offer the longest 0% periods on the market, but for those consumers who only want to carry one card, this card offers a very competitive deal.

‘As with all credit card deals from MBNA, however, we have to sound a word of warning. With one of the worst customer satisfaction scores on the whole credit card market (51%), MBNA needs to get its customer service act together. It’s not good enough just to offer the best credit card deals – MBNA should be aiming for the excellent customer scores achieved by John Lewis / Waitrose (88%), Smile (83%) and First Direct (78%).’

Get the best credit card

Get the best credit card deal with our Which? Best Rate credit cards. We scour the whole market to find the best deals for your needs, as well as recommending those providers that offer the best customer service.’

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