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BT Launches Credit Card
(27-06-07) - BT has announced a new credit card that will let customers save on their broadband and home phone the more they use it.
Following in the footsteps of AOL who launched a similar card last year, BT’s new card offers customers one penny off their telecommunications bills for every two pounds of purchases made on the card, up to the first £250 spent each month, then one penny for every additional pound spent.
Both the BT and AOL cards are supplied by MBNA, a major credit card issuer in the UK.
BT said that their card stands out from other reward schemes because customers don’t have to actually redeem any points - the discount is automatic.
The card is interest free on balance transfers for twelve months (subject to a three per cent balance transfer fee), and they also offer zero per cent on card purchases for three months, reverting to a typical rate of 16.9 per cent APR (variable) thereafter.
Chris Eagle, commercial manager at BroadbandChoices.co.uk said: “For BT customers this card could be great. They would be able to save money on their bills by simply doing their everyday shopping.
“However, customers need to ensure that they always pay their entire balance off each month, otherwise any interest they pay will massively overshadow the reductions on their bills. They also need to be careful that they don’t end up spending more just to earn money off or get caught out with ‘instant cash transactions’ that begin to charge interest the moment they go through.”
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