MBNA Business Card
Business cards are typically set up a little differently in order to get their customers extra benefits for being a business. With the MBNA Business Card there are a few things you might find pleasant. In this article we will review the options with the MBNA Business credit card to determine its value.
The first thing that can be noticed about this card is the introductory rates. Typically MBNA and Barclay are the only two banks to offer an introductory offer for business cards. Most business cards offer rewards, but don’t have the balance transfer options. These cards consider that a personal perk. So MBNA has a zero percent interest on balance transfer for 12 months. This means you have up to a year to pay off any balance you transfer within the first 30 days of the account being opened. It can certainly help your business save a little money. There is a transfer fee of 3 percent.
They also have a purchase discount of zero percent interest for three months. This purchase option is truly unique as there are about 4 cards on the market for business that will offer this deal. The balance transfer amount will be paid off before the purchases, so make sure you understand the terms before you use the card for purchases.
After the introductory rates are over you will be charged 15.9 percent. This 15.9 percent is about average for personal cards on the market. Most of the business cards are actually charging a higher interest rate, so again this card is coming out in a better light than some of the other business card options. The rate is standard variable which means it will change as the market changes or as your income in the business changes. It is important to make your payments on time every month to stay within good standing at the company. With a business card you do have the option of earning a 56 day free interest period if you pay the balance off in full each month as well as on time. It is just another little perk.
With the MBNA Business card there are not specified rewards. You can receive discounts at specific stores throughout the year, but these are subject to change and not always in effect. There is no rewards programme designed for this business card. This card is meant mostly for balance transfer needs in your business. There are other business cards through MBNA and other banks that offer flight rewards, discounts on business shopping and other things. MBNA doesn’t charge an annual fee for this card, which makes it one of the better business cards on the market. They do have payment penalties if you are late or miss a payment. They tend to be a little stricter with their business cards in that when you fail with a payment, your account can be closed a little faster than if it was a personal card. Having this business card is worth it for the introductory offers.
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