Goldfish Introduce New Credit Card Offer
Goldfish have announced a new credit card reward scheme that will benefit customers as taking out the new card will mean cardholders can earn double Goldfish points, which equates to two points for every pound spent on the new card.
However, the ratio of points to pounds is relatively low and cardholders will have to spend considerably or frequently to receive points that will transfer into cash worth any significance.
Under the new scheme customers will have to spend £1,500 on their card in order to earn 3,000 goldfish points. Theses points are worth a retail value of a meagre £20. In other words, in order to build up points worth any real value, cardholders will have to use Their Goldfish card as their primary credit card and use it for every day expenditure.
The points earned on the card can be redeemed in the form of retail vouchers, which can be used at 18 different retailers including Boots, John Lewis, Argos, WH Smiths and Marks and Spencer.
Goldfish Credit Card Company are now part of the Morgan Stanley group after the latter added the former to their credit card portfolio. This now sees Morgan Stanley enjoying a larger share of the UK credit card market.
“ When Morgan Stanley acquired Goldfish we set out to rejuvenate interest in the brand and the launch of this credit card offer is the first step,” said managing director of Morgan Stanley’s UK credit card business, Charlotte Hogg.
Morgan Stanley offer a variety of credit cards in the UK, aimed at various areas of the market. Among these cards are the ‘buy and fly’ aimed at frequent fliers and the Platinum card, which is aimed at the premium end of the market.
As credit cards offering 0% interest balance transfers with no fee are dwindling, loyalty credit cards have experienced a recent surge in popularity as customers try to earn rewards for using their credit cards. In fact a recent report stated that credit cards have outstripped the use of cash for the first time for every day purchases such as shopping and petrol, for example. Now customers are reaping financial benefits from using the cards daily in the form of loyalty rewards such as, for example, High-Street vouchers, cashback and airmiles.
Alisdair Milton
27th
July 2006
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