MBNA Platinum Visa

Banking and Borrowing

Updated on 09 April 2010 | 0 Comments

The MBNA Platinum Visa is a great choice if you want to pay off your credit card debt. Find out why.

If you’re looking for a nought percent balance transfer credit card, the MBNA Platinum Visa is a good option. It offers thirteen months interest-free on all balance transfers.

Other benefits

What’s more, this interest-free period includes money transfers. This means you can transfer money from your MBNA Platinum Visa straight into your current account. You can then use this money to help pay off an expensive overdraft, for example, and you won’t have to pay interest for thirteen months.

Bear in mind you’ll have to pay a fee of two point nine percent for standard balance transfers, and four percent for money transfers.

A word of warning

Although the MBNA Platinum Visa offers three months interest-free on any purchases you make, don’t be tempted to spend on it if you’re carrying out a balance transfer. Otherwise you’ll be caught out by negative order of payment. This is when your cheapest debts are paid off first, leaving you to rack up interest on the most expensive debt.

Get the MBNA Platinum Visa via lovemoney.com

Rachel Robson reviews the pros and cons of the MBNA Platinum Visa credit card

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