Credit cards often times offer rewards for having the card. This is why you can make a really simple choice in choosing the right credit card for you. Part of choosing a card is going to be based on the other features though, and if these aren’t good then the rewards won’t be worth it. In this review we are going to look at your options for this credit card.
The Limerick Institute of Technology Visa card offers benefits to education. Here is how it works. MBNA is going to contribute to the institute of technology when you open an account for this card. This contribution and subsequent ones will not be any cost to you. You see when you make a purchase the card must make a donation based on the amount of that purchase. The card offers the funds to the institute to make education better for their students by supplying things that the institute would need through these funds.
You have the option of taking advantage of the balance transfer rate. This is a six month option starting at the time the account is opened. You will have 1.9 percent interest for that duration. After that time is a 16.9 percent APR. To use this card effectively it is best to make sure you can pay off the debt in that six month term because you would go up to the 16.9 percent. You also shouldn’t use it for purchases during that time. The purchases are paid off second to any promotional amount, meaning you are earning interest on any purchase you make.
The purchase interest rate is 16.9 percent. Remember though only purchases will accrue donations for the company. This means using the card for balance transfers helps you, but not necessarily your Institute.
You also have free travel accident insurance for 127,000 Euros of coverage. There is fraud protection and online account management services. As you can see these last few things mentioned are no different than any other card through MBNA, but they do differ from other card companies. You also have the chance to earn free interest for 58 days when you pay your balance off in full every month as well as on time. The interest rate is average for other cards on the market.
Truly to decide if this card is right for you and the best option you need to look at the rewards and the other benefits. Just looking at the annual percentage rate is not enough. In our review we found the rewards programme to be beneficial if you want to support the Limerick Institute of Technology. If this has no bearing on your life it is not the card for you. Overall it is a great card depending on how you use it. By using it wisely you can save a great deal of your income for other purchases or important factors in your life. Applying for the card is an option if it fits you.