MBNA Rewards
MBNA Rewards Visa card is just one of the products on the market right now for credit cards. MBNA is one of the larger banks operating worldwide and offering the visa logo for purchases. The Visa logo is the most accepted card around the world. The MBNA Rewards credit card has several benefits that need to be explored to determine if this card is worthy of having in your wallet.
The first thing we have noticed with this card is the introductory offers. Most of the credit cards, to make it on the best list, are going to have very similar plans for rewards to make it competitive and of course more attractive to consumers. The balance transfer deal is zero percent for 13 months. This is one month more than the standard being offered by other cards, even business cards.
MBNA is also offering a deal on purchase rates as well. They have zero percent for three months or until August 2008. This part of the introductory rate is the same as the other cards. They just happen to give you a date for the card because they reserve the right to take this deal off the market at any time. In other words after the ending date of August they may not have a similar purchase rate deal again.
Next when you are considering a card it is important to view the annual percentage rate. After the introductory periods are over the interest rate is going to be 15.9 percent. This interest rate is in line with about ten other cards. It is currently one of the lower typical APR’s on the market for any card. This rate is variable and subject to the universal default. The universal default states that at any time when your credit rating decreases you could have an increase on your rate to over 30 percent.
The MBNA Rewards card does offer you rewards for shopping, flights, and cash rewards. When you use the card you are increasing your points towards these discounted offers or to earn flights. Usually you earn flights or other discounts at a 1 to 1 offer, meaning for every pound you spend you get one point. This is a similar system. The good news is you pick what you would like to redeem the points on. For flights you do have to have more points than it would take for shopping vouchers or cash back. This choice is a little new to the entire process. Most cards have one type of reward that you can earn such as flights. They may offer cash back, but again they don’t typically offer flights with a cash back reward. The rewards programme is truly what makes this card unique. They also don’t have an annual fee. The other terms and conditions are pretty standard with other cards, but it does bear looking into those conditions to make sure you agree. Overall as a card this is worthy of a second glance and possibly an application, depending on what you are looking for.
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