Consolidate Debt for Less With MBNA's Rate for Life Credit Card

CHESTER, England, February 21, 2011 - Consumers looking to consolidate high interest bearing debts on a lower
long term rate should consider an exclusive online credit card from MBNA.

The MBNA Rate for Life credit card offers a promotional rate of 5.9% and
a low handling fee of 1.5% on all balance transfers and money transfers made
within the first 60 days of opening an account.

Will Curley, product executive for MBNA, said: "The MBNA Rate for Life
card is one of the best products in the market for helping consumers to
consolidate higher interest bearing debts; and it could save people a great
deal of money(1). This card enables customers to bring higher
interest-bearing credit card balances, loans, finance agreements or
overdrafts together and consolidate them on a lower rate of interest,
5.9%, on balances transferred in the first 60 days until they are paid
off(2).

"The money transfer option we offer allows customers to transfer money
from their credit card straight into their current account for one of the
lowest transfer fees in the market(2)."

The average interest rates on a GBP3,000 loan in the UK market are
currently around or above 15%.

Mr Curley added: "This credit card can offer consumers certainty of cost,
it is covered by the layers of security and protection credit cards offer,
there are no early repayment fees, it offers flexible repayments if
circumstances mean customers can pay more and it can support many in reducing
the overall debt and interest charges they pay on other debts, agreements or
loans."

This is an Internet-only offer and anyone interested in learning more
about the new MBNA credit card should visit
www.mbna.co.uk/creditcards/mbnacards

    1 On-line research for personal loans from high street banks shows
      (correct as of 12 noon 21st February 2011):

    - Halifax (GBP3,000 over three years) - 22.9% APR - total interest
      GBP1,202.21*

For Halifax the first repayment is due three months after the start of
the loan, therefore the loan term is slightly longer than the number of
repayments.

    - HSBC (GBP3,000 over three years) - 18.9% APR - total interest GBP874.01
    - Santander (GBP3,000 over three years) - 14.9% APR - total interest
      GBP689.64
    - MBNA Rate for Life Credit Card2 (GBP3,000 over three years) - 5.9% APR
      - total interest GBP279.61 (+GBP45 fee)

2 If balance and money transfers are made within the first 60 days. The
rate applies until the transferred balances are paid off. The standard rate
of interest for card purchases will be 16.9%p.a. (representative 16.9%APR
variable). Promotional rates will no longer apply from the beginning of any
statement period during which a customer has breached their terms and
conditions.

About MBNA Europe Bank

MBNA Europe is a wholly owned subsidiary of Bank of America Corporation
(NYSE: BAC) and is the recognised leader in affinity marketing.

For more information, visit the company's website at

www.mbna.co.uk or Bank of America's website at

www.bankofamerica.com

Editor and supplementary notes:

The information contained in MBNA Europe's press releases is intended
solely for journalists and should not be used by consumers to make financial
decisions. Any consumer interested in finding out more about any of MBNA
Europe's products should visit www.mbna.co.uk for full terms and
conditions.

For further information, contact: Gary Jenkins, Vice President - Communications, Bank of America Europe Card Services, Tel: +44(0)1244-574136, Mobile: +44(0)7825-721118, Fax: +44(0)1244-672468, Email: gary.jenkins at mbna.com