Lloyds completes MBNA takeover - but 'no changes whatsoever' for customers

The takeover, announced in December 2016, means Lloyds Banking Group now controls more than a quarter of the UK credit card market (26%), second only to Barclaycard (27%).

The three million existing MBNA customers in the UK will not receive any communication about the takeover, a Lloyds Banking Group spokesperson said, as there's "no impact" on them. This means that:

• The MBNA brand will remain distinct from other Lloyds Banking Group brands, including Lloyds, Bank of Scotland and Halifax.

• Customers will still be able to transfer credit card balances from MBNA cards to any existing Lloyds Banking Group brand.

• MBNA will continue to offer competing credit card deals to Lloyds Banking Group.

For details on the current best-buy credit cards, including 0% spending, balance transfer and money transfer deals, take a look at our full Credit Cards section.