BT Credit Card

MBNA credit card review: BT

DO you spend more time chatting on a BT phone line than Kris Marshall? You could save on your bill as you spend with the BT credit card.

It's a simple reward scheme - the money comes off your BT bill automatically and there's no upper limit - but one that'll get you money off a household basic. Can't say much fairer.

For every £1.50 you spend a penny will come off your BT bill and - with a 0% purchases offer for the first three months - the BT credit card could also come in handy for spreading the cost of high spending.

Finally, the BT credit card includes a 13 month 0% balance transfers offer - that's just two months off the market-leading rate.

However, this offer should be used with caution when you're trying to get as much money off your BT bill as you can.

Although the BT credit card applies payments to the shortest 0% offer first after that payments will be applied to the 0% rate first.

That means you won't be able to pay back any of your purchases until the balance that you transferred over to the BT credit card is paid off in full or, to put it another way, if you're not careful you'll be building up interest at the same time as you're trying to pay it off.

With this in mind we'd recommend that if you're new to credit (or prone to being disorganised) you don't spend on the BT credit card at all when you're paying back a balance transfer.

If you're more experienced credit card wise, though, you could always use both and just clear the purchases balance in full within the first three months.

The BT credit card is issued by MBNA so you'll have access to their decent online account management service and generally reliable fraud monitoring service.

All in all, you can save money on your talk as you spend with the BT credit card.

Interest Rates and Fees
		Notes..
Typical APR	16.9% APR (variable)	The typical APR is the rate most people are offered.
Introductory Purchases	0% for 3 months	Payments will be applied towards 0% purchases before 0% balance transfers. However, once the 0% purchase period ends, payments will be applied first towards 0% balance transfers. After the introductory period purchases will be charged at the standard rate of 16.9% p.a.
Balance Transfers	0% for 13 months Includes transfers to a current account (4% fee)	Must be made within 90 days of account opening to qualify. Also includes money transfers to a current account, but with a 4% handling fee. Payments are applied towards 0% purchases before 0% balance transfers, but when the 0% purchase period ends payments will be applied towards 0% balance transfers before standard rate purchases. After the 0% balance transfer period ends, balance transfers are charged at the standard rate of 18.9% p.a. and money transfers are charged at the standard rate of 20.9% p.a.
Balance Transfer Fee	3% (£3 minimum)	This fee applies to balance transfers. Money transfers will be charged a 4% fee.
Cash Withdrawal Rate	27.9% p.a. (variable)	-
Cash Withdrawal Fee	3% (£3 minimum)	-
Annual Fee	None	-
Foreign Transaction Fee	2.99%	This fee will be charged if you make a purchase or cash withdrawal in a foreign currency.

Rewards
		Notes..
Reward #1	BT Phone Bill Rebate	You'll earn: - 1p discount for every full £1.50 spent in purchases - There is no limit to the amount of discount that can be earned. - Discount rebates will be automatically credited to your BT phone bill. - If you have any surplus discount it will be rolled over to the next month.

Cardholder Services & Extras
Online Account Management		You can log in to a website and manage your MBNA BT credit card account online. Optional paperless statements.
Fraud Guarantee		There is no liability or excess to pay for theft, loss or fraudulent use online or on the high street, as long as you notify MBNA as soon as your card cannot be found or you notice any unsual transactions on your account.
Fraud Monitoring		Fraud Warning System MBNA will monitor your account for any suspicious activity. They also offer a purchase disputes team and a 24/7 365 helpline.
Identity Protection		MBNA do offer a Identity Theft Protection Scheme, which is a free booklet offering advice on how to protect yourself from ID theft.
Verified by Visa		An extra layer of security when shopping online. Register and set up a password-protected identity-check when you shop online with participating online retailers.
Purchase Protection Insurance
Purchase Delivery Insurance
Comprehensive Travel Insurance
Travel Accident Insurance
Travel Inconvenience Insurance
Assistance Abroad
Emergency Card Replacement
Other Extras	- 24 hour UK based customer services - Up to 3 additional cardholders free.
Optional Extras	These are extras that you can choose, but you will have to pay for them. - Payment protection - Card protection - Identity protection alert.

Payments & Payment Details
		Notes..
Credit Limit	£1,500 assumed	Credit limit subject to status.
Interest Free Period	Up to 50 days	For purchases if you pay your statement balance in full and on time every month. There is no interest free period for balance transfers, money transfers or cash advances - except for those within an interest free promotional offer.
Minimum Monthly Payment	1% (£25 minimum)	If your balance is less than £25 you must repay your balance in full. Otherwise, you must repay the greater of: - £25, OR - 1% of your statement balance before any default charges and interest, plus any default charges and interest on the statement.
Allocation of Payments	Low interest rate balances » Higher interest rate balances	Where there are two or more balances at the same promotional rate they will repaid in the following order: - The one which expires first, Then - If the expiry dates are the same - the one which started first, Then - If the expiry and start dates are the same - the one with the lowest standard rate.
Default Charges	£12	This is how much you will be charged for late payments, returned payments and if you go over your credit limit.

Card Details
		Notes..
Online Application	Yes
Card Type	Classic	-
Payment Company	Visa	The company who provides the payment technology and infrastructure to allow you to use this credit card. Retailers and ATM machines displaying the 'Visa' logo will accept this credit card.
Card Issuer	MBNA	The bank who issues this credit card.
Card Advertiser	MBNA British Telecom	The company who advertises and promotes this credit card.

Review Continued...

Apply Online for BT credit card »