The MBNA Rewards Credit Card

The MBNA Rewards credit card offers a competitive 13 months of 0% interest on balance transfers, and you can also use it to get rid of your overdraft, with a money transfer into your bank account.

However, there are better cards in the market for balance transfers, which offer longer interest-free periods.

Purchases on the MBNA Rewards card are free of interest charges for the first three months. Again, you can do a lot better than this with other cards.

Why should you go for this card?

I would go for the MBNA Rewards card for its rewards scheme, which gives you a return on your spending. For every £1 you spend, you get a reward point. Build up enough reward points, and they can be redeemed for all sorts of great goods and services, including flights, electrical goods and even  cash.

If you are going to be taking advantage of the rewards scheme though, it is really important to pay your bill off, in full, every month. Otherwise the interest you pay will eliminate the benefits of the rewards.

Watch out for negative order of payment

Whatever you do, don’t make purchases after transferring a balance onto this card, as MBNA operates a nasty trick known as negative order of payment. Find out more about negative order of payment.