BankWest latest with low rate credit card
(30 January 2006 – Australia) BankWest has launched its Lite MasterCard which has an ongoing interest rate of 8.99 percent and up to 55 days interest free.
The move comes just days after Virgin Money launched its new credit card which has an interest rate of 12.65 percent.
BankWest chief executive of retail, Chris Whitehead, said Australians wanted a low rate credit card which was "really low rate and without any catches".
"They need a card that meets their personal finance needs, without the necessary frills, programs and perks that are expensive and that the majority of Australians don’t need or use," he said.
The bank said it expected the low rate credit card market to double over the next three years, reaching parity with the UK and US.
BankWest chief executive of retail, Chris Whitehead, said Australians wanted a low rate credit card which was "really low rate and without any catches".
"They need a card that meets their personal finance needs, without the necessary frills, programs and perks that are expensive and that the majority of Australians don’t need or use," he said.
The bank said it expected the low rate credit card market to double over the next three years, reaching parity with the UK and US.
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