A credit card that charges no fees and no interest
Posted by MattE on 03 Aug 2007 at 02:42 pm | Tagged as: Marketing
Here is a novel marketing initiative by HSBC - they are offering a credit card that is fee free of fees and charges.
While the offer period means that fees and charges apply after January next year on purchases, and until March 08 for balance transfers (if you want to escape a high interest cost card I guess) until then you get all the advantages of a credit card, but none of the costs.
For those seeking an easy way to effectively get a loan for free and pay it back by the end of the year, this represents a pretty damn fine deal.
I guess the fees and interest earnings they miss out on for six months will be recouped when customers are rolled over onto a regular credit card and one assumes, stays a customer for a long time.
Credit cards are a very competitive business and word is this approach is doing very nicely thank you.
Oh, and if you want to apply for one you can do it here. (Australians only sorry)
