MBNA Europe, a wholly owned subsidiary of Bank of America, has launched the MBNA Business Credit Card, a new business credit card, intended specifically for sole traders and small businesses.
The new MBNA Business Credit Card offers 0% pa on business purchases for one whole year from the date the account is opened, the bank said. The standard rate of interest for purchases will be 15.9% APR variable.
MBNA said that the card has no annual fee and comes with free purchase protection insurance and employee misuse insurance.
Allison Moulton, head of business lending at MBNA, said: We recognise the importance of small businesses and sole traders to the economy, and in these uncertain times with other credit facilities being in short supply, this new business credit card aims to help small businesses and sole traders manage their cash flow.
The card offers 0% for 12 months on purchases, allowing businesses to buy almost anything for their business, from fuel and stationery, to ease the burden of business expenses with no interest on card purchases and no transaction fee deal for a whole year.
