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Credit cards - Frequently Asked Questions

Provided by MBNA Cheshire platinum credit card

 

Who is MBNA?

MBNA Europe was a wholly owned subsidiary of MBNA America, they have recently been taken over by Bank of America.

They have issued over 40 million cards worldwide and have over £7 billion outstanding in the UK.

What is the APR and how long do introductory rates last?

We are currently offering a great introductory rate of 0% per annum for 12 months on balance transfers combined with 0% per annum for 3 months on retail purchases. After the introductory period the card will revert to a typical rate of 15.9% APR (variable). There is a 3% handling fee on balance transfers

Is there an annual fee?

There is currently no annual fee.

What is the credit limit?

The limit is assigned on a case by case bases and is chosen to reflect your needs and circumstances, up to a maximum of £50,000.

Is there any interest free period with the card?

Up to 56 days interest free on purchases when you pay balance in full and on time each month.

After the statement date, how long do I have to pay my bill?

 You will have 28 days to pay your statement after the statement date.

Is interest charged at a different rate if I pay by direct debit?

No, you will be charged at the same rate no matter how you pay. Arranging to pay by direct debit will, of course, make sure that you never forget a payment (Direct Debit can be for minimum, maximum or a fixed payment).

I have outstanding debts on more than one credit card. Can I transfer them all to my new Cheshire Building Society Credit Card?

Yes, credit limit allowing but you can’t transfer balances from other MBNA cards on to your Cheshire Building Society card.

I’ve been previously declined by MBNA – can I apply again?

Please apply again as your circumstances may have changed.  MBNA has a unique way of making our lending decisions – every single application receives the personal attention of an analyst rather than going through an automated process.

How old do I need to be to apply?

We accept and approve applications from all ages over 18 and all backgrounds.

How do I consolidate balances?

Once you have been approved for the card you will receive a welcome call from MBNA and can transfer balances over the phone at that time.  After that you can call the freephone number provided at any time to consolidate any additional balances.

What will my minimum payment  be?

Your payment will be the lesser of

  • 2.25% of your balance (min of £25)
  • Payment protection (optional, terms and conditions apply) cover plus interest plus fees plus £25 – or
  • The balance if this is less than £25
Could I have a joint account?

Unfortunately, we are unable to open a joint account for you at this time. However, you can add up to 3 authorised users to the Cheshire Building Society Credit Card account.  The account would be in your name, but another person could carry and use a card.

Can I pay off any creditor with my Balance Transfer cheque?

You can pay off any creditor other than an MBNA account.

How can I get a cash advance/How much can I request?

When you call to activate your card, you will be prompted to select a PIN number (Personal Identification Number) which can be used at ATM’s. You may request cash advances up to your available credit line.  Alternatively you can go into a bank and request the money over the counter (they will probably ask you for identification).

Cash handling fees for New Customers

Your terms and conditions will outline all fees applicable to your account.  These include:-

  • BT fee = 3% handling fee min of £3 (this includes credit card cheques)
  • Cash transactions = 3% handling fee min of £3 (this includes money transfers)
  • Foreign currency transactions = 2.75% commission

By clicking 'Apply online' you will leave the Cheshire's site and go directly to the MBNA website specifically designed for Cheshire credit card customers.

The Cheshire Building Society Credit Card is issued by MBNA Europe Limited, Registered Office: Stansfield House, Chester Business Park, Chester, CH4 9QQ. Registered in England number 2783251.
Credit is available, subject to status, only to UK residents aged 18 or over. MBNA monitor or record some phone calls. MBNA is authorised and regulated by the Financial Services Authority.