0 Balance Transfers Credit Card Mbna

0 Balance Transfers Credit Card Mbna

Balance Transfers - Most Bank of America cards offer 0% APR on balance transfers for a period of 6 - 12 months. If you happen to carry a monthly balance on your current cards, you may want to consider taking advantage of a balance transfer offer to save money on interest payments. They also allow you to pay off more of the principle with the money you would have otherwise of been spending on interest.

Understanding the details of a credit cards balance transfers options can be a very complicated matter. But, the basic idea is very simple. In the simplest scenario, the consumer has at least two accounts -- one credit card account with a balance and one without. In most cases, the credit card with a balance has a high interest rate, and the credit card with a lower balance has a lower interest rate.

MBNA Corporation was a bank holding company and parent company of wholly owned subsidiary MBNA America Bank, N.A., headquartered in Wilmington, Delaware, prior to being acquired by Bank of America in 2006. It was the world's largest independent credit card issuer, specializing in affinity cards. MBNA was founded in 1982 as Maryland Bank, N.A., a subsidiary of Maryland National Bank. The name MBNA is an initialism that was derived as an abbreviation or acronym of Maryland Bank, National Association. In 1989, Maryland Bank was renamed MBNA America Bank. MBNA Corp. spun off from Maryland National and became an independent company in 1991. Maryland National was acquired by NationsBank in 1993.

0 Balance Transfers Credit Card Mbna