Pay 0% on your balance transfers
If you’ve built up a balance on another credit card, you might be able to transfer it to a new card and pay back the balance interest free. This could save you money.
MBNA have two balance transfer cards available. The MBNA Platinum card allows you to transfer an existing balance and repay it interest free for up to 41 months. If you transfer a balance, you’ll have to pay a 3.45% transfer fee on the amount transferred.
The nuba transfer credit card (issued by MBNA) also allows you to pay off a transferred balance interest free for 41 months. With this card the transfer fee is slightly higher at 3.49% but it does come with a £20 Amazon gift card if you transfer at least £1,000 to the card.
Make sure that you pay off the transferred balance inside the 41 months otherwise you could get a nasty surprise. After this time, or on any transfers after you’ve had the card for 60 days, you’ll pay interest at 20.9% plus a 5% handling fee.
Both cards charge interest at 18.9% on new purchases.