MBNA Low Fee 0% Balance Transfer Credit Card review December 2019

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Slightly shorter than MBNA's longest 0% period, but offset by a reduced balance transfer fee.

If you’re looking to transfer existing card debt to a cheaper deal, you’ll normally (but not always) have to pay a transfer fee – but this card’s fee is cheaper than most.

Finder rating: ★★★★★

Representative example: When you spend £1,200 at a purchase rate of 20.93% (variable) p.a., your representative rate is 20.9% APR (variable).

26 months

0% interest on balance transfers

20.9%

Representative APR

12 months

0% interest on money transfers

£0

Account fee

Details

IssuerMBNA Limited
NetworkMastercard
Annual/monthly fees£0
Balance transfers0% for 26 months reverting to 20.93%
Balance transfer fee1% for 2 months reverting to 5%
Purchases20.93%
Purchases interest-free periodUp to 56 days
Money transfers0% for 12 months reverting to 20.93%
Cash advances20.93%
Min. credit limit£0
Max credit limitNot specified
Additional cards available3
Minimum Age18
Minimum income£14,000
ResidencyMust hold a UK bank/building society account. Must hold permanent UK address for 3 years.
AvailabilityAvailable to new customers
Annual/monthly fees£0
Balance transfer fee1% for 2 months reverting to 5%
Money transfer fee4% for 12 months reverting to 5%
Foreign usage charge (EU)2.95%
Foreign usage charge (rest of world)2.95%
Cash advance fee5% (min. £0)
Late payment fee£12
Duplicate statement fee£0
Exceeding limit fee£12
Additional card fee£0
Replacement card fee£0
Dormancy fee£0

Expert review

Chris Lilly

Review by


Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.

Expert review

As one of the biggest-hitters in the balance transfer game, MBNA, along with the likes of Barclaycard and Virgin Money, provides a range of balance transfer cards to suit various situations.

While the card issuer’s very longest 0% deal comes with a fairly painful balance transfer fee (especially if you want to transfer a larger sum), this card offers a reduced fee in return for a few months less at 0%. If the 26-month deal on offer here gives you enough time to clear your card debt, then you could opt to take advantage of the low transfer fee (divide your outstanding balance by 26 to see what you’d need to pay each month). Before you do, however, you should check out the selection of balance transfer cards currently available with no balance transfer fee.

How does this card compare with other balance transfer deals?

MBNA’s card

Updated December 14th, 2019
Name Product Balance transfers Balance transfer fee Purchases Annual/monthly fees Rep. APR Incentive Representative example
MBNA Low Fee 0% Balance Transfer Credit Card
0% for 26 months reverting to 20.93%
1% for 2 months reverting to 5%
20.93%
£0
20.9% (variable)
Representative example: When you spend £1,200 at a purchase rate of 20.93% (variable) p.a., your representative rate is 20.9% APR (variable).

Compare up to 4 providers

Other balance transfer offers

Table: sorted by length of 0% balance transfer offer, promoted deals first
Updated December 14th, 2019
Name Product Balance transfers Balance transfer fee Purchases Annual/monthly fees Rep. APR Incentive Representative example
M&S Bank Shopping Plus Mastercard
0% for 20 months reverting to 19.9%
2.9% (min. £5)
0% for 20 months reverting to 19.9%
£0
19.9% (variable)
Earn 1 point for every £1 spent at Marks and Spencer's and 1 point for every £5 spent elsewhere. 100 points = £1 reward voucher. Points will be converted into reward vouchers 4 times a year.
Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).
Halifax 29 Month Balance Transfer Credit Card Mastercard
0% for 29 months reverting to 19.95%
3% (min. £3)
0% for 3 months reverting to 19.95%
£0
19.9% (variable)
Representative example: When you spend £1,200 at a purchase rate of 19.95% (variable) p.a., your representative rate is 19.9% APR (variable).
Sainsbury's Bank Balance Transfer Credit Card Mastercard
0% for 29 months reverting to 19.95%
3% (min. £3)
0% for 3 months reverting to 19.95%
£0
19.9% (variable)
Earn 750 bonus Nectar points each time £35 or more spent on Sainsbury's shopping, up to ten times in your first 2 months, up to a total of 7,500 points, offer available for new customers. Earn 2 Nectar points per £1 spent on Sainsbury's shopping and fuel. Earn 1 Nectar point for every £5 spent elsewhere.
Representative example: When you spend £1,200 at a purchase rate of 19.95% (variable) p.a., your representative rate is 19.9% APR (variable).
MBNA Long 0% Balance Transfer Credit Card
0% for 29 months reverting to 20.93%
2.75% for 2 months reverting to 5%
20.93%
£0
20.9% (variable)
Representative example: When you spend £1,200 at a purchase rate of 20.93% (variable) p.a., your representative rate is 20.9% APR (variable).
Virgin Money 29 Month Balance Transfer Credit Card Mastercard
0% for 29 months reverting to 21.9%
3% for 2 months reverting to 5%
0% for 3 months reverting to 21.9%
£0
21.9% (variable)
Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a., your representative rate is 21.9% APR (variable).
Tesco Bank Clubcard Credit Card for 28 Months Balance Transfer Mastercard
0% for 28 months reverting to 21.814%
2.98% for 28 months reverting to 3.99% (min. £3)
0% for 3 months reverting to 19.944%
£0
19.9% (variable)
1 point per £4 spent (£4 minimum) in Tesco and 1 point per £8 spent (£8 minimum) outside Tesco. Must have available credit to earn points. Points are converted to Tesco vouchers or can be exchanged for Partner rewards to receive money off a variety of restaurants, entertainment or Avios points.
Representative example: When you spend £1,200 at a purchase rate of 19.944% (variable) p.a., your representative rate is 19.9% APR (variable).
TSB Platinum 28 Month Balance Transfer Mastercard
0% for 28 months reverting to 19.95%
2.95% for 3 months reverting to 3%
0% for 3 months reverting to 19.95%
£0
19.9% (variable)
Representative example: When you spend £1,200 at a purchase rate of 19.95% (variable) p.a., your representative rate is 19.9% APR (variable).
M&S Bank Transfer Plus Mastercard
0% for 28 months reverting to 19.9%
2.85% (min. £5)
0% for 6 months reverting to 19.9%
£0
19.9% (variable)
Earn 1 point for every £1 spent at Marks and Spencer's and 1 point for every £5 spent elsewhere. 100 points = £1 reward voucher. Points will be converted into reward vouchers 4 times a year.
Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).

Compare up to 4 providers

Approval for any credit card will depend on your status. The APR shown represents the interest rate offered to most successful applicants. Depending on your personal circumstances the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow.

Repayment options

When it comes to repayments, you can make manual repayments online or over the phone (0345 606 2062), or alternatively set up a direct debit. A direct debit is a great idea because it protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee or losing any promotional rates as a result. You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.

Choose from the following direct debit options for your monthly repayments:

Minimum amount Fixed amount Fixed percentage Full amount

How to apply for the MBNA Low Fee 0% Balance Transfer Credit Card

If you’ve compared cards and want to apply, completing the secure online application form takes about 15 minutes. Before you apply, MBNA requires you to use its “Clever Check” eligibility tool, to see which cards you’d stand a strong chance of being approved for. This part of the process involves a “soft” credit check and won’t hurt your credit score at all. If you then do then opt to apply for a card, MBNA will run a full, “hard” credit search, which has a small (but usually short-lived) negative effect on your credit score.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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