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BT customers have saved
an average of £45
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BT celebrates 100,000 money-saving credit cards
Garnet Roach garnet@consumerchoices.co.uk
Just over a year after launching its own credit card, BT announced that it has signed up its 100,000th customer (26-09-08).
The UK’s largest broadband provider said that its first venture into the financial services market had saved customers an average of £45.
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"We launched the card based on what customers said they wanted"
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The BT (www.BT.com) credit card offers customers a “unique reward scheme that automatically reduces users’ BT bills every time it is used”.
Customers earn one pence for every two pounds of purchases for the first £250 spent on the card each month, with no minimum level of spending required. Any customers that spend more than £250 in a month will earn double the discount on their BT bill: one penny for every additional pound spent, explained the ISP.
And unlike other reward cards, there are no points to redeem or vouchers to lose; any discount you earn will automatically be deducted from your bill up to a total value of £75 a year.
Additional account holders living in the same house can also earn up to £75 off the shared household bill.
Chris Hillman, general manager financial services, BT Retail, said: “The BT Credit Card has been a big hit with our customers. We launched the card based on what customers said they wanted: a competitive credit card which rewards them for spending and gives automatic discounts on BT bills. We gave them what they wanted and 100,000 have already signed up, it’s another great success story.”
However, Michael Phillips, BroadbandChoices.co.uk product director, warned customers to be careful with their card and avoid paying interest. “Although this is a great way to save money on your bills, any discount you receive will immediately be overshadowed by any interest that you pay,” he said.
“The only way to make reward cards work for you is to ensure that you pay the full balance off at the end of every month,” concluded Phillips.
The BT credit card offers zero per cent on balance transfers for twelve months, and zero per cent on card purchases for three months, with a typical rate of 16.9 per cent APR.
Related article - Cheap broadband.
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