MBNA Best Western Platinum Plus Credit Card
With the MBNA Best Western Platinum Plus, you can earn 1.5 Gold Crown Club Points for every $1 purchase you have made using the card. Once you have made the first qualifying purchase, the cardholder will get 5,000 Bonus Gold Crown Club Points as a bonus for getting the credit card. Additionally, you will receive 50 Gold Crown Club Points for each cash advance transaction made that goes over $50 in value. You will also earn additional Gold Crown Club Points by just going shopping at any retail partners that made a tied up with MBNA.
Annual Interest Rates of the Card
MBNA Best Western Platinum Plus does have a standard rate 19.99% for purchases. If you avail its balance transfer feature, the rate is at 19.99% including cheque cash advances. The same rate goes for cash advances as well as cash equivalents. For the default rate, your interest rate will increase by 5% if you pay off your balance late more than once within the 12 consecutive billing cycles. However, if you pay off the minimum amount on time for 12 consecutive billing cycles having the rate increase already, your current interest rates will be reduced by 5%. This means that it is necessary for you to take note of your due date and pay off your balance to keep away from interest rate increase. The following interest rate being presented will be applied on the day your account has been activated.
Credit Card Interest-Free Grace Period
The cardholder is given an interest-free grace period on new purchases you have made for at least 21 days. This will pursue if you can pay off the total balance found on your billing statement before or on the due date. For balance transfer, cash advances or cash equivalents, the interest-free grace period is not available. Only allow for purchases transactions only. Every cardholder must take advantage of this grace period since it does not charge you interest which in turn can be considered as a savings for you.
Minimum Payment of the Credit Card
The minimum payment for this card will be the sum of the current payment due plus the past due amount. This is subjected to a minimum of $15. The current payment due will be the sum of 1% of your balance not including the new interest charges. If the balance is less than $15, the minimum payment will equal the balance. In this way, the credit cardholder will not get into trouble with paying off the balance but if this goes on for quite sometime and the cardholder experiences financial problems, this could be dangerous for your credit status. You will have a huge debt with the card company.
Foreign Currency Conversion
The card company will bill you for all transactions in Canadian dollars. Any transactions that the cardholder has made in a foreign currency will be converted to Canadian dollars utilizing the currency conversion rate established by MasterCard. This conversion rate reflects the fee retained by MasterCard as a cost of performing the conversion service. In addition to the conversion rate, the company will charge an extra fee of 2.5% of the transaction amount after the amount has been converted.
Annual and Other Fees
The credit card does not have any annual fee. If ever there is an annual fee charged, it will be charged on your first statement and annually afterwards on your anniversary date. The card does have other fees to charge on. Transaction fees are given once you are going to avail cash advance including automated teller machine and over the counter advances. The rat is at 1% of the amount of cash advance having a minimum fee of $7.50. For balance transfer including cheque and cash advances, the rate is also 1% of the amount transferred or advanced having the same minimum fee under cash advances. For cash equivalents and wired transfer, the rate and minimum fee are more or less the same at 1% with $7.50 fee.
The card also has account fees. When you go beyond your credit limit, you will be charged $25 per billing cycle. In time of return occurrence, the fee would only be $20 per transaction as well as return cheque cash advance. In case you lost your monthly statement or sales draft, you can get another copy for only $2.50. For inactive balance cases, you will still be charged starting on the date that your account was last active. The fee is at $25.
See Also
Student Credit Cards Canada
Rewards Credit Cards Canada
Prepaid Credit Cards Canada
Points Credit Cards Canada
Platinum Credit Cards Canada
Gold Credit Cards Canada
Bad Credit Cards Canada
Balance Transfer Credit Cards Canada
Best Low Interest Rate Credit Cards Canada
Rewards Program Canada
External Links
Creditcards.redflagdeals.com
Creditcardsearch.ca
Canada.creditcards.com
