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Rate for Life credit card launched

Credit card customers have the chance to apply for a new offering from MBNA, the Rate for Life card.

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3 February 2009

Rate for Life credit card launched”

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Credit card customers have the chance to apply for a new offering from MBNA, the Rate for Life card.

The interest rate of 5.9 per cent offered by the payment solution is set to apply to all money and balance transfers made within the first 60 days of the account being authorised.

Only available online, the card can be applied for via the provider's website.

Greg Reed, president of MBNA UK Card, said: "MBNA is delighted to be launching this market-leading product which offers a great low rate card for balance transfers and money transfers."

Last month, MBNA announced the launch of the new United Mileage Plus American Express Credit Card, which will offer two air miles for every £1 spent on purchases using it for the first six months after the account is first opened.

After the half-year period has expired, it will revert to one mile for every £1.

The offer applies to applications received before the end of April.

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Credit Cards	0% Balance Transfers	0% Purchases	APR Representative (Variable)
	Tesco ClubCard Credit Card
	9 months	15 months	16.9^%
16.9% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.9% p.a(variable).
	Virgin Credit Card
	20 months	3 months	16.8^%
16.8% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.8% p.a(variable).
	Barclaycard Platinum with BT
	22 months	3 months	17.5^%
17.5% APR representative (variable). Based on a credit limit of 1200 and purchase rate 17.5% p.a(variable).
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