In a market place where 18% interest rates are the norm, balance transfer offers are few and far between and card providers seem to just want to cash in on debt, the new Platinum card from MBNA is a breath of fresh air. It gives card-holders an introductory rate of 1.9% for 12 months on money and balance transfers and no fee at all for moving the debt over.

* There is one small, standard requirement: To qualify for the zero handling fee and low rate, balance transfers and money transfers need to be made within 90 days of opening the account.

And it gets better; the standard rate of interest for card purchases is just 16.9% APR (typical) variable, well below the 18.6% industry average and sure to attract some attention.

When asked why they launched the new Platinum credit card, Will Curley, product executive for Bank of America Europe Card Services, which operates under the MBNA brand in the UK, said: "MBNA is delighted to be launching this market-leading product, which offers no handling fees on balance and money transfers and a low rate for 12 months if they are made in the first 90 days.

"We know this is product will appeal to many of our customers, particularly those looking to pay down their debts over a short period with lower fees, and we will continue to offer more value and choice among our UK card portfolio."

The demand for the card will be high in such a stagnant market and will only be boosted by the change in MBNA's payment allocation order due on September 1st. From that date onwards, payments to the lenders cards by customers will pay off the most expensive balances first. MBNA have made the card deal an Internet-only offer and anyone interested should go to: