... One day, I received a letter from BOS telling me that henceforth, their credit card section would be administered by MBNA and my card would from this point on be an MBNA Platinum Mastercard. Therefore I approach this review from a slightly different angle to most of the previous reviewers ... Read review
Advantages: Good customer support, internet accessibility Disadvantages: Slow to increase credit limits, only mastercard available
...section would be administered by MBNA and my card would from this point on be an MBNA Platinum Mastercard. Therefore I approach this review from a slightly different angle to most of the previous reviewers who applied for their card direct from MBNA.
At the time of writing (Oct 06), MBNA Europe offer several credit cards, all of them Mastercard branded. The application process for the Platinum card is no different to that for any other ... .../>
The APR offered by MBNA is 15.9% at the time of writing (Oct 06), which I have to say is perhaps slightly higher than some other cards/companies (but see below). However, you do get a 6 month period of 0% from the time that your account is opened, which is fairly standard these days.
♣♣♣Credit Limits♣♣♣
At the moment my limit is GBP 1800, although if I remember rightly ... more
Until two years ago, I was quite happily using my Bank of Scotland (BOS) Mastercard with its attractive picture of Edinburgh's Bristo Square. One day, I received a letter from BOS telling me that henceforth, their credit card section would be administered by MBNA and my card would from this point on be an MBNA Platinum Mastercard. Therefore I approach this review from a slightly different angle to most of the previous reviewers who applied for their card direct from MBNA.
At the time of writing (Oct 06), MBNA Europe offer several credit cards, all of them Mastercard branded. The application process for the Platinum card is no different to that for any other credit card and the same checks are in place (e.g. you need to have a paying job when you apply). However, I can't really comment on the application procedure and the time it took for the card to arrive due to the reasons outlined above, and this review is based on my experience of owning and using the card.
♣♣♣Interest Rates♣♣♣
The APR offered by MBNA is 15.9% at the time of writing (Oct 06), which I have to say is perhaps slightly higher than some other cards/companies (but see below). However, you do get a 6 month period of 0% from the time that your account is opened, which is fairly standard these days.
♣♣♣Credit Limits♣♣♣
At the moment my limit is GBP 1800, although if I remember rightly it started out at GBP 1000 when I first opened my account with Bank of Scotland. One slightly annoying thing was that although BOS increased my limit to 1800, MBNA re-set it to 1000 when they took over BOS credit card operations, despite sending me an assurance that I would experience no changes.
♣♣♣Fees/Charges♣♣♣
As with all credit cards, if you are able to clear your balance in full you will attract much less in the way of charges. That said, the minimum monthly payment amount if you don't want to do this is 2.25% of the balance with a minimum of GBP 5.00.
The great thing about this card is that it carries no annual fee although this does have a trade off: as mentioned above the APR is 15.9% ,which is relatively high. If you are looking for a lower APR and don't mind paying an annual fee it may be worth shopping around for a different card and avoiding this one. It all really depends on how much you are planning to use it.
In terms of other charges, there is 0% p.a. on balance transfers until November 2007, and 0% p.a.on card purchases until February 2007. Credit card cheques and cash advances attract a 2% handling fee and you will be punished with a GBP 25.00 fee for going over your limit, making late payments or for any dishonoured/returned payments
♣♣♣Website♣♣♣
http://www.mbna.com/europe/index.html is the place to go. Here, you can apply online and once you have opened an account you can register to access your details online, make payment and transfers etc. For me, it is much easier than 'phoning or relying on postal mail to manage my account. They also have an option to allow you to consolidate all your credit card/store card balances onto your Platinum card if you have several cards, which I have found handy in the past.
♣♣♣Customer Support♣♣♣
I have to say that this has been excellent so far. On two occasions I have 'phoned the customer support section either to ask for my PIN or to request a new PIN and on both occasions my call was dealt with promptly and courteously. The customer advisor who took my second call explained that it would be a simple matter to issue me with a new PIN number and told me that she could send it to my address within 2 days, which she did.
♣♣♣Customer Loyalty Benefits♣♣♣
Unfortunately none exist on this card, which also compares unfavourably with many other credit card packages. If you desire a credit card with points rewards, then MBNA do offer a Platinum Rewards card and a Platinum Points card.
♣♣♣Value for Money♣♣♣
This is always something I have been fairly happy with. I originally signed up for a BOS/MBNA card because I was looking for one with no annual fee as I don't use my card all that often. Apart from making occasional purchases online, I mainly use my card when I travel, either to buy tickets and settle hotel bills or to get cash out of an ATM overseas. I am also one of those people who always clears my balance if I possibly can, and so the MBNA Platinum card was ideal for me, despite the somewhat high APR. The choice of credit card is really dependant upon a consumer's lifestyle and what they wish to use the card for and I believe the card offers good value for money for anyone who fits my profile of occasional use and total balance clearance.
♣♣♣Summary♣♣♣
A good card account for occasional credit card users. However, if you use your card frequently, then there are better value for money options around, and if you like a card with a loyalty/points scheme then you should also look elsewhere. Similarly, if for some reason you particularly want a VISA or other credit card type then you should look elsewhere as MBNA only support Mastercard.
Advantages: 0% balance transfer, phone and net support Disadvantages: No loyalty scheme, not impressed with service
...So onto the MBNA card, which is a slightly differnet kettle of fish. ---------------------------------------------------------------------------
THE MAIN FEATURES OF THE PLATINUM CARD
---------------------------------------------------------------------------
- Typical APR is 15.9%. This may vary from person to person
- 0% p.a. on card purchases for 6 months (from date of account
opening)
- 0% p.a. on balance transfers + 'credit card cheques' ... ...easiest way. Go to the MBNA site, and click on the platinum card. Then click on the apply now button. You will be referred to their special application website. You will have to provide:
- name
- address
- nature of work and income
- bank details
- balances of other cards, loans etc
- date of birth
- and declare whether you have been bankrupt before
You recieve info through the post a few weeks later to say whether they have approved your ...
Dan_ep 14.06.2006
· Read full review
Ciao members have rated this review on average: very helpful Review of MBNA Platinum Card
...I have been an MBNA Platinum Plus cardholder for several years but in that time have never used the card as my primary credit card account. One of the reasons for this is that on the whole I tend to clear my balance monthly, so I want a credit card that offers something for simply using the card for every day transactions – unfortunately the MBNA Platinum Plus card does not have any sort of loyalty scheme.
Application
========
MBNA have ... ...for the Platinum Plus card, MBNA may well offer you one of their other cards, providing you meet the credit scoring requirements.
Competitiveness of APR
==================
The MBNA Platinum Plus card does not offer a very competitive APR. The current standard APR for purchases or cash advances is 15.9% - not the highest in the market, but not the lowest either. Where the card offers much greater value is in the APR for balance transfers or introductory ...
LostWitness 28.10.2001
· Read full review
Ciao members have rated this review on average: very helpful Review of MBNA Platinum Card
Advantages: Good customer service, frequent incentives to transfer balances at very low rates, one of the longest interest free periods on the market, Up to 59 days interest free Disadvantages: Payments are used to clear balance transfers first whilst any other spending accumulates at 15.9% APR
MBNA was the first credit card I held, and has remained steadfastly tucked in my wallet ever since. On their main silver accounts they had rubbish interest rates and no loyalty packages, but did offer interim incentive periods at very low interest rates for balance transfers.
I was going to close both my accounts with them, when RBS refused me a special rate on a balance transfer, so I elected to contact MBNA who offered me 1.9% fixed for 6 months ... ...As I have pointed out MBNA offer existing customers balance transfers at extremely preferential rates - however be careful - I took advantage of an excellent rate of 4.9%APR to transfer a balance of £700 from an existing card - I did however already have a balance on the card. I had a sizeable chunk of money and decided to reduce the MBNA balance - only to discover that those balances carrying the lowest interest rate are actually cleared first - ...
sue.51 17.11.2001 (28.06.2003)
· Read full review
Ciao members have rated this review on average: very helpful Review of MBNA Platinum Card
Advantages: You can get cash advances cheaper than a bank loan! Disadvantages: No cash-back or points incentive
I've had an MBNA Platinum VISA card for about 5 years now. The rates for retail purchases are average when compared to all the other cards; 15.9% is typical.
The credit limit is shopping-friendly without being silly. When you first get the card they appear to start you off on a low credit limit, and they increase it on your statements until you've had the card long enough and you notice that the credit limit is noticably more than you spend, but ... ...difficulties with the repayments.
I've had one or two fraudulent transactions on this card even though I never lost the card. No doubt, then, not MBNA's fault for not cancelling it (since I never lost it) but probably someone in a shop making a copy of my card or duplicating a receipt. This could have happened with any card so no criticism to MBNA. In fact, when I noticed the extra transactions on my statement, they had no problem at all crediting ...
Andrew.Self 28.09.2001
· Read full review
Ciao members have rated this review on average: very helpful Review of MBNA Platinum Card
Advantages: Good intro rate, good customer service, Credit card chequebook Disadvantages: Poor "normal" rate, no incentives (e.g. cashback), no Internet presence
MBNA International Bank are best known for their wide range of
credit cards. They do many "affiliate" cards such as alumni cards
for staff and students of universities, as well as their own-brand
Silver, Gold and Platinum cards.
I had a Silver card with them originally, and now have an MBNA
Platinum card. In the time that I have been a customer of theirs,
I have found that their staff are very helpful, my account has been
run smoothly, and ... ...to a not-very-competitive 18.9%
MBNA can sometimes be persuaded to extend this for another 6 months,
if you tell them that you can get a better rate elsewhere. If you carry a large balance on an MBNA card, it's worth phoning their
customer service department to ask if they'll lower your rate.
Other advantages with MBNA are that there's no annual fee, and you get a "credit card cheque book", which makes it easy to transfer balances from other ...
madwolf 28.07.2000
· Read full review
Ciao members have rated this review on average: very helpful Review of MBNA Platinum Card
Competitiveness of APR
Product package
Quality of Customer Ser...
Reward Scheme
Additional Charges
Security and Privacy
Ease of Application
Similar reviews »
Reviews which might be of interest for "MBNA Platinum Card"
Advantages: Good customer service Disadvantages: big late payment cost
I have had an MBNAPlatinumCard for about 18 months and have to say that on the rare occasion that I have had any queries their customer service have been very helpful. As Owenski found, they do charge an £18 late payment fee - this has been charged to me three times and every time this has been due to my bank being late. Every time I have called them and they have taken the charge off my account straight away. The APR is very competitive (16%) and the credit limit is easy to set if you are after a larger credit limit. Although they do tend to increase it by £1500 every six months unless you ask them not too... All in all I have to say this is a very good card. ...
SHadleigh 26.09.2001
· Read full review
Ciao members have rated this review on average: somewhat helpful Review of MBNA Co-branded
Advantages: Accepted every where (but then it is a Mastercard), earn club card points every where Disadvantages: The additional rewards are quite poor
's a credit card" quickly turned in to sarcasm that, I regret to say, were almost to the point of rudeness. Whilst a Mastercard that looked like a clubcard was a talking point at many cash tills it soon got tiresome. Another thing I found was that I sometimes handed the cashiers my actual clubcard (after all I do carry a club card as well) which was actually quite embarrassing. It was soon time to change to the strawberry design.
****Interest rate****
The current interest rate is on this credit card is 16.9% APR. In all honesty this is not a great rate (at the time of writing both the 'basic' Natwest and RBS credit cards are at this level) and there are lower rates (the MBNAplatinumcard is carrying an interest rate of 15.9%) and higher rates (the American Express Blue Sky card is carrying a rate of 17.9%).
****The Tesco rewards ...
Advantages: low APR Disadvantages: some people don't recognise it as a British card
MBNA are fantastic - no two ways about it! Their staff are friendly and knowledgeable, whilst their website is clear and easy to understand. The only bad move they hav erecently is to align themselves with the 'Sh'Abbey National to produce their credit cards. Abbey National's speed and efficiency brings MBNA's good reputation down which is unfortunate for them. MBNA have a wide range of cards to offer each customer and are willing to talk you through each one if you are unsure as to which one to choose. I have a PLatinumcard from MBNA and think it is the best thing since sliced bread!! I would most definately recommend it to anyone who will listen. MBNA are the best ...
