MBNA has launched a brand-new All Round 30/30 Credit Card.
This deal offers:
0% interest on purchases for up to 30 months.
0% interest on balance transfers for up to 30 months.
0% interest on money transfers (i.e. from overdrafts, loans etc) for up to 30 months.
What to watch out for:
There’s a balance transfer fee of 2.72% – so it will cost you £27.20 to transfer £1,000.
There’s a money transfer fee of 4% – so it will cost you £40 to transfer £1,000.
Purchases after the introductory offers have expired are charged at 19.9% APR.
You need to do balance/money transfers within 60 days of opening the account otherwise you’ll be charged interest and a higher BT fee.
Eligibility depends on your circumstances and the results of the eligibility check. The APR, credit limit and terms of the offer you get may differ from the example.
Why I like this card:
I reckon the All Round 30/30 card is a decent everyday card, especially if you have an existing credit card debt to transfer over.
You can check your eligibility before you do a full application.
Obviously, it’s not the best for either balance transfers (you can get 43 months at 0% with Santander) or purchases (you can get 32 months with AA) but it’s one of the best cards offering 0% on both for a decent time period.
There are a couple of other cards also offering 30 months at 0% on both purchases and balance transfers. These include the Post Office Money Matched Mastercard, Sainsbury’s Bank Dual Offer Mastercard, and Santander Everyday Mastercard. What’s best for you will depend on where you’re transferring a balance from – you generally can’t transfer to the same card provider.
All comments (31)
AstalaVista
14 Aug 17#1
Thanks OP. Appreciate the clear description and specifying alternative better options for balance transfers and purchases.
padamowicz93
14 Aug 17#2
Not for people with low credit score, is it?
LeahsMintytoutou to padamowicz93
14 Aug 17#5
I was wondering a similar thing, I have quite good credit but I have a low income so I'm not sure if that will affect me being accepted. I know MBNA used to do cards for low credit score but not sure if they still do.I want to buy some furniture. It seems in my house once one thing goes, one by one, other things start breaking.
Gwadinina
14 Aug 17#3
Thanks OP
CampGareth
14 Aug 17#4
Thanks OP, been looking for something since halifax said they'll change my overdraft fees from £1/day to 1p per £7, so in my case from £30/mo to about £85/mo. Same overdraft fee is happening at Lloyds. At least with a 0% card those payments apply against the balance not the fees.
DrLamok to CampGareth
14 Aug 17#7
Are you overdrawn by £60000 ?
Gormond to DrLamok
14 Aug 17#8
If he is paying £85/month and if we assume a month to be 30 days, that's £2.83/day. Multiplied by 700 (1p per 700p) would then be £1981 overdrawn.
CampGareth to Gormond
14 Aug 17#9
Pretty much, used to be 0% with no fees as I was a student until recently. A balance transfer card would sort all this out though.
Gormond to CampGareth
14 Aug 17#10
Yeah I'm looking for a new 0% card too and this seems like the best deal.
Joemobro
14 Aug 17#6
MBNA is owned by Lloyds Bank now.
thermomonkey
14 Aug 17#11
43 months on balance transfer with Santander? Wow... Thanks OP.
When do you generally become a new customer for these credit card offers? After a year of not being with them?
From_the_Midlands to thermomonkey
14 Aug 17#13
Don't think there's such clause with majority of credit cards. If you're eligible and are accepted for one, you normally get what was offered. Sight variation with Amex, you don't get bonus membership rewards point if you've not been away for 6 months.
jcluk
14 Aug 17#12
Great deal if you take the chance to pay off your debt.
keanepw
14 Aug 17#14
Hot! Shame I've already got an mbna card.
callum84 to keanepw
15 Aug 17#16
If it's the balance transfer your interested in keep an eye on your account and letters. I'm always getting offers in for 24 months interest free balance transfers and cash transfers. No purchase offers though.
From_the_Midlands to callum84
15 Aug 17#17
You can have up to 5 MBNA cards at the same time. The only thing stopping you (if you're accepted) would be if you already have this specific card.
callum84 to From_the_Midlands
16 Aug 17#19
Didn't realise that. Thanks for the heads up!
purplefleece
14 Aug 17#15
This is ridiculously expensive. Go to Money Saving expert or similar and look at the fees on other deals.
1616french
15 Aug 17#18
Ok, so I'll make this clear I've not ever had a credit card but I'm hoping to go to Italy next year for a relative's wedding. It'll cost around £2500-£3000 for the stay. I was thinking about getting one of these to book the holiday maybe next month or October. I see lots of mentions of balance transfers but I have no other debt to transfer so could I pay for my holiday using this card then be allowed 30 months to pay it off interest free. Don't think I could save that amount by next summer so I'm tempted by this.
From_the_Midlands to 1616french
16 Aug 17#20
Yes you can. Make sure the card you're applying for offers "interest free purchase offer", which this card does. Once you've got the card, make your purchase, pay minimum balance (never recommended) or divide the amount by number of months you're entitled interest free and you won't pay any interest and be debt free at the end of it.
Stags to 1616french
19 Aug 17#28
Hello, hope the trip goes well. Makes sence of you are booking it in £'s fo you are doing euro transactions you may want to check if there is a fee for doing this.
You might want to check MSE cheapest way to travel section to find out the cheapest way to buy in euro's.
just a thought
1616french
16 Aug 17#21
Anyone know the best card for 0% purchases? Santander offer over 40 months for balance transfers but only 6 months for purchases.
From_the_Midlands to 1616french
16 Aug 17#22
This very deal
1616french to From_the_Midlands
16 Aug 17#23
Thanks a lot. Just one more question, does the 30 months start from when you receive card or when you make your first purchase/transfer?
From_the_Midlands to 1616french
16 Aug 17#24
Primarily, when your application is accepted your promotion period starts. I personally dislike it as you lose 10-15 days. It can easily take up to 10 days for the new card to arrive in the post. However, I have once complained when my new card took ages (25 days) to arrive, the issuer (not MBNA) extended the interest free period by 1 more month.
1616french to From_the_Midlands
17 Aug 17#25
Thanks for taking time to help, appreciated.
From_the_Midlands to 1616french
17 Aug 17#26
You're welcome. Give me a shout if you need more help. Top advice: never overspend on your credit card, it's very tempting. Always make the transaction for the what you need and not for what you want. Pay off decent amount every month so that you never pay interest and never accumulate debt. Lastly, Never never never miss your payment!
dodoegg1
18 Aug 17#27
are there any decent 0% cards that give rewards/ points? I've just finished my 18 month 0% on Tesco so looking for something similar to earn points on
Anon32
24 Aug 17#29
After being rejected for m&s got this with a £7400 credit limit promptly reduced to £5000. M&s take ages while this took minutes! Funny that they think i can't pay back the money or maybe they just won't make money out of me! Hence rejection. 24 hours after being rejected i was accepted for this. Dont give up peeps. However only use these if you have to or are very clever and sharp with credit! Perfect for the heating system
iibdii
27 Aug 17#30
I have had one of this in 2006. I think it was 3000 or 5000 limit After two years they closed my account for using limit , clearing balance and using it again 3 or 4 times every month The reason given was not allowed to use for business use.
MassiveAttack99
12 Sep 17#31
Sorry to bump this, but just need a bit of advice. I was in between jobs for five weeks there, meaning that these next few weeks are very tight as I haven't received any pay for a month and won't receive any from my new job until the end of the month. Would you recommend using this card for things such as getting the shopping in and transport? Plan to pay it all back within two months so only want it as a short term option.
Never had a credit card before so thought I'd ask before I apply!
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Opening post
MBNA has launched a brand-new All Round 30/30 Credit Card.
This deal offers:
What to watch out for:
Why I like this card:
I reckon the All Round 30/30 card is a decent everyday card, especially if you have an existing credit card debt to transfer over.
You can check your eligibility before you do a full application.
Obviously, it’s not the best for either balance transfers (you can get 43 months at 0% with Santander) or purchases (you can get 32 months with AA) but it’s one of the best cards offering 0% on both for a decent time period.
There are a couple of other cards also offering 30 months at 0% on both purchases and balance transfers. These include the Post Office Money Matched Mastercard, Sainsbury’s Bank Dual Offer Mastercard, and Santander Everyday Mastercard. What’s best for you will depend on where you’re transferring a balance from – you generally can’t transfer to the same card provider.
All comments (31)
When do you generally become a new customer for these credit card offers? After a year of not being with them?
The only thing stopping you (if you're accepted) would be if you already have this specific card.
It'll cost around £2500-£3000 for the stay.
I was thinking about getting one of these to book the holiday maybe next month or October.
I see lots of mentions of balance transfers but I have no other debt to transfer so could I pay for my holiday using this card then be allowed 30 months to pay it off interest free.
Don't think I could save that amount by next summer so I'm tempted by this.
Makes sence of you are booking it in £'s fo you are doing euro transactions you may want to check if there is a fee for doing this.
You might want to check MSE cheapest way to travel section to find out the cheapest way to buy in euro's.
just a thought
Santander offer over 40 months for balance transfers but only 6 months for purchases.
Just one more question, does the 30 months start from when you receive card or when you make your first purchase/transfer?
However, I have once complained when my new card took ages (25 days) to arrive, the issuer (not MBNA) extended the interest free period by 1 more month.
Top advice: never overspend on your credit card, it's very tempting. Always make the transaction for the what you need and not for what you want. Pay off decent amount every month so that you never pay interest and never accumulate debt. Lastly, Never never never miss your payment!
After two years they closed my account for using limit , clearing balance and using it again 3 or 4 times every month
The reason given was not allowed to use for business use.
Never had a credit card before so thought I'd ask before I apply!