MBNA Brings “More Rewards” to UK Consumers

MBNA launches “More Rewards Credit Card Account” for eligible new customers
New dual card reward offer with low APR developed in response to consumer feedback
Around 35,000 redemption options available on new-look MBNA rewards platform

CHESTER, England, 28th February 2013, PR Newswire – Rewards are the single most important factor when consumers are looking for a new credit card, consumer research commissioned by MBNA suggests.

A total of 29 percent of consumers surveyed highlighted rewards – including reward points – as the key element they look for when searching the market for a new credit card, followed by a low annual percentage rate (APR), highlighted by 13 percent of those surveyed1.

The findings come as MBNA launches the new MBNA More Rewards Credit Card Account, offering new customers two cards on one account and huge reward earning potential on all of their spending. It comes with a market-leading representative rate for reward cards of 12.9 percent APR (variable) and is available now on MBNA’s website http://www.mbna.co.uk, as well as most comparison websites.

Michael Donald, MBNA’s Business Development and Marketing executive, said: “MBNA More Rewards offers new customers the opportunity to get something back on all of their spending. Unlike many other loyalty credit card programmes, there is no limit on the amount of points customers can earn, or the type of spending that will earn them points.”

MBNA More Rewards offers customers successfully applying for the account one credit limit and two contactless-enabled credit cards – an MBNA More Rewards American Express® credit card and an MBNA More Rewards Visa credit card – enabling them to earn rewards any time they spend on the cards virtually anywhere in the world.

New customers will earn two reward points for every £1 spent with their MBNA More Rewards American Express® credit card, or one reward point for every £1 spent on their MBNA More Rewards Visa credit card. For the first three months, customers can earn double points on both cards2.

Donald added: “MBNA More Rewards is a great example of how we’re listening and responding to our customers. They are telling us they want compelling rewards, and MBNA More Rewards delivers that by enabling them to earn every time they use their cards for spending. Consumers are also seeking a lower APR and MBNA More Rewards delivers that with a very competitive APR of just 12.9 percent.”

To coincide with the launch of MBNA More Rewards, MBNA has developed a new-look rewards platform offering up to 35,000 different redemption options.

Donald continued: “The new-look rewards platform we’ve developed enables customers to use the points they accrue to redeem against a huge selection of rewards – around 35,000 options including high street vouchers, home entertainment and luxury experiences among many others.”

More details on the new MBNA More Rewards Credit Card Account are available at http://www.mbna.co.uk/credit-cards/mbna-more-rewards/

Representative example 12.9% p.a. variable on card purchases. This is equivalent to 12.9% APR representative variable based on a credit limit of £1200.

1 Source: You Gov Omnibus survey commissioned by MBNA and carried out on 2,037 GB adults, 1,453 holding one or more credit cards, between November 30 and December 3, 2012.

2 Double points means customers will earn 4 points for every £1 spent on their MBNA More Rewards American Express® credit card and 2 points for every £1 spent on their MBNA More Rewards Visa credit card within the first 90 days of the account opening date. Rewards points are earned on card purchase transactions only. All points expire three years after they have been earned and are forfeited on account closure.

About MBNA Limited:

MBNA Limited 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.

Editor and supplementary notes:

The information contained in this press release is intended solely for journalists and should not be used by consumers to make financial decisions. Any consumer interested in learning more about any of this product should visit http://www.mbna.co.uk for full terms and conditions.

For further information, contact:
Gary Jenkins
Corporate Communications
Tel: +44(0)1244-574136
Email: gary.jenkins@mbna.com

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