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New MBNA credit card charges no handling fees

Credit card may appeal to frequent travellers

Couple on beach

The latest credit card deal from MBNA may appeal to frequent travellers but does it offer a better deal than its rivals? Which? finds out.

The vast majority of credit cards on the market charge a fee every time you use them overseas. 

This fee – typically up to 2.99% and charged on all transactions – can quickly add up over the course of a holiday. 

However, a small handful of credit cards offer to waive this fee, making them popular among regular jetsetters. 

We compare the latest deal from MBNA with the best deals offered by rivals the Post Office, Halifax, Nationwide, NatWest/RBS and Saga.

Which? Money Compare table: Credit cards for overseas use – find a great deal    

MBNA Everyday Plus Credit Card

The Everyday Plus American Express credit card from MBNA charges no foreign exchange transaction fees when you make a purchase or cash withdrawal overseas. 

Unusually it also claims to charge no handling fees in the UK or abroad, which applies to money transfers, balance transfers and cash machine usage. The Halifax Clarity MasterCard is the only other credit card for overseas use that charges no fee for cash withdrawals, though interest is applied from the point of transaction. 

Click here to find out more about the card.

MBNA’s card offers the lowest ongoing interest rate of 7.4% APR for customers accepted at its headline rate compared with its rivals. MBNA says alternative products with APRs of 9.9% and 12.9% may also be available for customers that don’t qualify for the headline rate. The card also offers contactless payments of up to £30 and is compatible with Apple Pay. 

In addition, Santander is introducing a fee waiver on foreign exchange from 16 September 2015 to 31 December 2016 for new customers, and from 11 January 2016 to 31 December 2016 for existing customers. Click here to find out more about this card.

Find out more: Contactless payments – how does this technology work?

How does this credit card deal compare?

This card is a great all-rounder – it’s perfect for use abroad and has a very low rate of interest on borrowing with no handling fees or annual fee. 

To see how it compares with other credit cards for use abroad visit the Which? Money Compare credit card tables, which let you search hundreds of cards from providers large and small to choose a great deal based on quality of service as well as cost and benefits. 

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Which? Limited is an Introducer Appointed Representative of Which? Financial Services Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 527029). Which? Mortgage Advisers and Which? Money Compare are trading names of Which? Financial Services Limited.

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