Credit Card Articles

MBNA Trueline MasterCard Review

July 6, 2012 by CreditCardsCo™

It is important to not just carry a credit card these days, but you need one that easy to understand. Basic features with platinum level status, for example, could offer you all that you need without any confusing gimmicks.

Credit is a powerful tool that can help you get many of the things you want in life. Obviously it is not something that you need to have, but if it is the kind of tool that you want to utilize you might feel discouraged by all of the confusing, multi-layered, multi-functioning financial products currently in circulation. If this sounds familiar then you might like the MBNA Trueline MasterCard. This credit card offers several basic, easy-to-understand features, while maintaining elite platinum level status.

While some credit card companies may try to lure you in with complicated benefit structures that shift, change, or simply confuse you, there are other credit cards that just want to give you the basics. There is nothing wrong with basic service, particularly if you don't need all of those bells and whistles.

As a matter of fact, having a credit card with too many features is actually more difficult for some credit customers simply because it is too much to keep track of. If you are the kind of person who just wants to have reliable access to a generous credit line, and perhaps a few other auxiliary features that give you convenience and help you save money, this might be the right card for you.

Interest Rates

The first thing you will notice about this particular financial product from MBNA bank is that interest rates start at the same generously low percentage. This not an introductory rate, which means it will never expire and never increase (save for penalties, of course), so you will also have peace of mind knowing exactly what to expect from your credit card. This rate, then, is applied to the four different balances your card could carry at any given time:

  • Retail/standard purchases
  • Balance transfers
  • Access cheques (drafting a check from your credit card account)
  • Cash advances and ATM withdrawals

Be sure to pay attention to these, as they are default rates and will likely increase if you miss a payment or fail to satisfy other conditions (which are described in further detail on their website application). Of course, if the interest rate does change, it is quite possible to revert it to the lower rate once you resume regular payments or satisfy whichever penalty may have been incurred.

Other Benefits

As impressive and attractive as great interest rates can be for most people, you probably need to offer more if you want to stay competitive in today's broad, international credit card market. Fortunately, this credit card from MBNA bank also offers you a few other auxiliary benefits that are quite attractive and should increase the draw. This includes:

  • No annual fee
  • 21 days free of interest (when you pay new charges in full within the time period)
  • Exclusive platinum level benefits
  • Option to add more users for family or business
  • 24/7 fraud protection
  • Additional security featuring Chip & Pin technology
  • Foreign currency exchange convenience

Processing And Penalty Fees

Because this is a standard credit card, you can expect to face a few fees over time. Like other credit cards, though, the fee structure is designed to only affect you if you utilize any of the services that are considered to be "extra" or if you incur any penalties. First of all, then, you could pay a service or processing fee for:

  • Wire transfers
  • Balance transfers
  • Ordering a cheques draft from your account
  • Cash advances
  • Ordering additional copies of your statement
  • Foreign currency conversion

Processing fees are usually either a small percentage of the transaction or a flat rate, whichever is greater. Penalty fees, on the other hand, are usually assessed as a flat dollar amount, which may vary, per occurrence:

  • Going over your credit limit
  • Having a payment returned
  • Having a cheques draft returned
  • Having an inactive balance
  • Late payment/interest charges

Conclusion

Getting simple credit benefits with platinum level status is simple with this Trueline MasterCard from MBNA Bank. You will enjoy competitive interest rates with no annual fee and a handful of other comprehensive and competitive benefits to boot.

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