MBNA stands for Maryland Bank, National Association. It was originally founded in 1982 and quickly grew to become one of the largest independent lenders in the world. In 1993 it began to issue cards in the UK. At the beginning of 2006, MBNA was acquired by the Bank of America. It is now the European credit card section of the Bank of America, one of the world's largest financial institutions. Although a US-based company, MBNA does have a notable presence in the United Kingdom. It is one of the largest lenders in both Europe and the United States (under the Bank of America).
In the UK, MBNA focuses on providing both personal and business cards, rather than any other financial services. It can be seen as a credit card specialist. They mainly deal with their customers through phone and online contact.
MBNA have one of the biggest selections of cards available online, covering a wide variety of customers, although they generally require customers who have a good credit rating. Their vast selection of cards makes them one of the most competitive companies for 0% on purchase deals and balance transfer credit card deals. There are a few cashback credit cards available, and they have no cap on how much cashback you can earn. There are also some co-branded airline credit cards on offer, which allow you to collect mile points that you can use towards flights, upgrades, hotels, travel services, and others. The miles earned and the usage of them will depend completely on the type of card that you choose. MBNA have co-branded cards with some merchants and service providers. These cards offer point collection schemes and discounts when shopping at the co-branding partner.
Some of their cards have annual fees, although many do not. With a wide selection of cards, it is easier for you to find the best credit card to suit your requirements, providing you have a good credit rating. Whether you want low purchase rates if you are a frequent shopper, low money transfer rates or low balance transfer rates, MBNA may have a card that is just what you are looking for. You may want a specialist card or a card that donates money to chosen UK charities. They also have a number of benefits that come as standard with most of their cards, including paperless statements, free online card services, fraud protection and 24 hour UK-based call centres.
MBNA has an ambitious programme of events and investments. This includes: sponsorship and philanthropy, financial education, working with certain sports teams, supporting culture and the arts and working within communities. MBNA is also serious about combating climate change.