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Intermutual Credit Card

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Credit Card from Totalise in conjunction with Peoples Bank.

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      26.07.2001 20:03
      Very helpful
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      The Intermutual Credit card (run by Peoples Bank for Totalise the UK based ISP with ambitions to diversify) is one of the growing band of credit cards that offers you (the user) something back for spending with it. However, this one is different - it isn't cash or points that you get back, but shares, real, tradeable shares - not a gimmick, not a pretend, but shares in a live, trading, quoted company !! So, what's the deal ? Well, for every £1 you spend, you get 1% back in Totalise shares - simple and uncomplicated. What's the catch ?? Well, the shares are being given a minimum assumed value of 20p each, so at current prices you are being given a share traded at c5p for every 20p you earn - so that's the catch - it's currently worth only about 0.25%. Any other catches ?? Well, you will have dealing costs if you sell them, but if you don't, well the sky is the limit (in theory) and your credit card spending could be worth a lot more !!

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