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MBNA Limited and Lloyds Bank plc are both part of the Lloyds Banking Group. Lloyds Bank plc adheres to the Standards of Lending Practice, which are monitored and enforced by the Lending Standards Board.

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Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278. Registered in England and Wales number 2065. Lloyds Bank plc Registered Office, 25 Gresham Street, London EC2V 7HN. MBNA is a trading style of Lloyds Bank plc.

Works exclusively with Lloyds Bank plc.

Personal loans: for personal (unsecured) loans, MBNA Limited: MBNA Limited is also authorised by the Financial Conduct Authority under the Payment Services Regulations 2017, Register Number: 204487 for the provision of payment services. Authorised and regulated by the Financial Conduct Authority. Registered in England and Wales under company number 02783251. Registered Office: Cawley House, Chester Business Park, Chester CH4 9FB.

All Rights Reserved.Credit cards: are issued by MBNA Limited. It is registered in England and Wales with Company Number 1833139 and authorised and regulated by the Financial Conduct Authority.Ĭopyright© 2022.

No interest-free period on balance/money transfers or cash advances (subject to any interest-free promotional offer).ģSee app store listings for operating system information.Īmerican Express Services Europe Limited has its registered o ce at Belgrave House, 76 Buckingham Palace Road, London, SW1W 9AX, United Kingdom.

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If you only make minimum payments, it will take you longer and may cost you more to clear the outstanding balance.ĢInterest free period - Maximum 56 days on purchases if you pay the full amount you owe on each statement date on time every month. You will still be required to pay your minimum due payments. If you do not pay your balance in full you may incur interest on your outstanding balance. Cash advances, balance transfers, and the interest charged on those non-purchase balances do not accrue interest at the standard. And it means you pay interest on the interest you’re charged, not just on the things you buy.ġInterest on all balances that result from purchases (including associated fees, such as non-sterling Transaction fees), interest charges and service charges (such as the copy statement fee), is charged at the per annum rate found in your Terms and Conditions (variable) if the statement balance is not paid in full, as per your Credit Card agreement. So, the following day you would pay interest on a balance of £1,000.55. The interest is added to your Account every day. This amount would then be divided by the number of days in a year: £200 ÷ 365, which is 55p. We then apply the daily rate and add it to the amount you owe each day.įor example, if you owed £1,000 and had a ‘simple’ rate of 20%, the amount you would pay in interest for one year would be 20% of £1,000, which is £200. We convert your annual simple rate into a daily rate, by dividing it by the number of days in a year (365). As these have their own interest rates, that are also linked to the Bank of England Base Rate. This is the rate you’ll pay on all balances on your Card, except for cash withdrawals or any other cash transactions you make. We work out your annual percentage rate of interest (APR) by adding your personal rate to the Bank of England Base Rate.

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