ONLINE personal finance brand Fluid today launched a new low-fee balance transfer credit card for UK customers, powered by MBNA.
The new Fluid credit card offers new customers 15 months at 0% interest on balance transfers made within the first 60 days of opening the account with a low 1.5 per cent handling fee.
Customers also benefit from 0% interest on purchases for five months from the date the account is opened. New customers receive a 30 per cent discount on Fluid travel insurance — just in time for the summer holidays.
Will Becker, chief executive of Media Ingenuity, Fluid’s corporate parent, said: “We have listened to what customers want within the UK market. In conjunction with MBNA, we’ve created a card with an exclusive offer that can yield a substantial saving to consumers. This is a great card for people who are looking to get control of their finances and repay existing balances within the 15-month offer period.”
Michael Donald, business development and commercial executive for MBNA, said: “We have developed this credit card, in partnership with the Fluid team, as a direct result of customer feedback. We know consumers are looking for interest-free credit but without the higher initial outlay required by some of the more headline-grabbing, longer-term deals available in the UK market.”
The new contactless credit card, enabling customers to wave and pay for purchases of £20 and under, also offers a money transfer option, allowing customers to transfer some of their credit card limit into their current account to help reduce the overall interest charges they pay on other debts, or loans. A 4% fee applies to money transfers.
The Fluid credit card is available now at http://www.fluid.co.uk.
Representative example 15.9% p.a. variable on card purchases. This is equivalent to 15.9% APR representative variable based on a credit limit of £1200.
Fluid is a premium personal finance brand with the core value of using technology to deliver speed, ease and value. Our credit card portfolio is the first in the world to use a soft credit search to pre-screen customers for acceptance, saving customers time and the risk to their credit rating of a failed application. Fluid is a partnership between Media Ingenuity and MBNA, one of the world’s largest credit card issuers. Like all our credit card partnerships, it’s operated by our MI Money Ltd subsidiary.
About MBNA Europe Bank
MBNA Europe is a wholly owned subsidiary of Bank of America Corporation (NYSE: BAC). For more information, visit the company’s website at http://www.mbna.co.uk.