MBNA Platinum Credit Card

Today it is hard to determine what will be the best credit card because a lot of the companies are offering competitive cards in almost every feature.  With the MBNA Platinum credit card there are several benefits that may be worth your while.  We are going to discuss those benefits below to determine if this is a good card to have.

• Balance transfers: the Platinum card has an introductory rate on balance transfers for six months from the date the account is opened.  You can enjoy a 1.9 percent annual percentage rate during this time.  There is normally a handling fee of 1.50 percent or more on the balance transfers.  This can be withdrawn if you go over your limit or make a late payment.
• For purchases there is a 13.9 percent APR if you have a credit limit of 1270 Euros.  There is a chance to earn 58 days of interest free if you pay the account balance off every month, on time. 
• According to the information provided there is no annual fee, but a government tax of 30 Euros per year on all credit card accounts.
• They do have other fees such as the cash withdrawals, over limit fee, late payments, returned cheques, and returned payments.
• There is a security protection on the card to help combat fraud.
• There is also a flexible payment option such as direct debit or billpay for those who enjoy convenience, according to the site.

Everything that is listed above is standard with credit card offers.  You will find most of these options available no matter where you live.  The difference in this card is the balance transfer option.  This option has been changed from others.  Some options allow you to have zero percent interest for 6 to15 months depending on the card.  In this offer you will be charged interest at a lower rate for 6 months.  The card will only work for balance transfers if you feel you can pay off the transfer in that time period.

Additionally the 13.9 percent interest is one of the lower rates available on the market as most hover around 15.9 to 16.9 percent.  However, you must realise this interest rate of 13.9 percent is given only if you have the proper credit application.  In other words your credit scores need to be on the high side, along with a long credit history.  Your income must also support having the card.  If the qualifications are not met you may find your annual percentage rate is a little higher than the standard rate advertised on the MBNA platinum credit card.

Overall the comparison and review of this card finds it is a worthy card to consider.  When choosing a card it is best to apply for the one you can qualify for and receive.  If this is a card that fits that statement for your personal life it will be a card to consider, otherwise you may find better options out there for you.