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When the many usual credit card offers come through the post I usually rip it up and throw it straight away. But I heard how good people’s bank credit card was from friends, so when there leaflet come threw the door I had a read. I t sounded really good. No twisted catches or ridicules balance transfers fees. So I called and applied. For the Peoples Bank card PLATINUM Peoples Bank is offering a 2.9% fix until the next nine months. Then it goes up to 11.99%. But what I have done is transferred everything over, then when the nine months is up. Change it back to my Egg card, which is about 9.9%. I called to see if I would be accepted for a card, the person at the other end of the line took my details quite quickly and told me there and then I had been accepted. I had to wait only a week to get my details my card no., pin no etc) I called up Peoples Bank again and I asked them to transfer my balance and they did it there and then. I also received a letter that my transfer had gone threw. Peoples bank also send you convenience cheques, you can use these to do your balances to, I have not used these as I think it was much quicker to call Peoples Bank inquiry line. So my cheques are sitting at the bottom of my drawer for emergency only (or maybe a rainy day) lol. Peoples Bank card offers no annual fee, 24 hour free customer service, and they ask you would like to make your payment. The statements are easy to read, and it shows who your balance transfers were paid to. The only thing that made my stomach do a summersault is when I read that if you miss a payment or a late payment your card goes up to a whopping 25.99%! If you do make a late payment or some how forget, they do send you a letter but like most banks now they will charge 25.00 for sending these letters. If you loose your card they will charge you about 4 or 5 pounds to replace. You can use your card in different countries but People's Ban
k will charge you a foreign exchange fee of about 2% of the amount.
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 c6p for every 20p you earn - so that's the catch - it's currently worth only about 0.3%. 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 !!
The 'little red card' is the People's Bank Comic Relief Visa. I got on as part of a big Comic Relief promotion a couple of months ago in which People's Bank agree to give £5 to Comic Relief for every account opened and a further 60p for every £100 spent or transferred from another credit card account. To encourage you to transfer your balance, the introductory interest rate is fixed at 7.9% for the first six months which beats the rate of my main Visa card. Other than the charitable aspect, it is a pretty standard credit card. There is no annual fee and they issue additional cards for free. I was also sent eight credit card cheques which hasn't happened with any of my other credit cards but, to be honest, I'm not really sure what to do with them! The People's Bank staff all seemed really helpful on the one two occasions that I have had to telephone them. The first time was to activate my card so there were no problems there but the second time was five days later when the card was declined in a shop. I telephoned People's Bank who could find no reason why the card had been declined but who credited my card with £5 for the inconvenience - don't you love it when banks do that! The introductory interest rate if quite tempting and its nice to know that People's Bank are so generous at compensating customers if a mistake is made. But the main advantage of the little red card is obviously the donations that are made to Comic Relief. If 10% of the people who make donations on Comic Relief day opened a little red card account and spent £150 in the first month, Comic Relief would receive an additional million pounds by the next Comic Relief day which is really great news. So I get a pretty standard credit card (in a very fetching colour) which increases the donations to Comic Relief without me actually having to donate anything. Can't be bad.