Happy New Year to everyone and thanks for all the kind messages in my guestbook!! Am back from Xmas ...
Happy New Year to everyone and thanks for all the kind messages in my guestbook!! Am back from Xmas now and back to r/r/c-ing and writing.
Member since:17.08.2006
Reviews:43
Members who trust:67
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 postalmail 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.
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.
How helpful would this review be to a person making a buying decision? Rating guidelines
I have owned an MBNA card when I was in the USA and sadly did not find their customer service to be what it should be. Good review though and glad it works for you.
elspeth334 10.11.2006 22:23
I have a Thomas Cook MBNA card and get pounds off my holiday it amounts to several hundred Cheers Elspeth
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
sue.51 17.11.2001 (28.06.2003)
·
Read 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
madwolf 28.07.2000 ·
Read review
Ciao members have rated this review on average: very helpful
Review of MBNA Platinum Card
Oct 3rd, 2006
exceptional by (3%):
very helpful by (95%):
helpful by (3%):
