Daily Archives: January 26, 2010

Banks, Checking & Savings, Credit Cards, Financial, Financial Management, Financial Services, Financial Solutions, Money, Personal Finance

Barclaycard Brings Freedom To Over 30,000 Retail Outlets Across The UK

Barclaycard has announced that it will be launching Barclaycard Freedom in March – the broadest retail rewards scheme the UK has ever known. The groundbreaking new loyalty scheme will be available to over eight million cardholders who will be able to earn rewards in an unprecedented number of shops, restaurants and online outlets across the UK, without having to do or pay anything to join.

Barclaycard Brings Freedom To Over 30,000 Retail Outlets Across The UK

The scheme allows cardholders to interact at the point of sale, bringing a new level of simplicity to the concept of customer rewards. There is no need to collect and save vouchers and coupons, no need to replace their card or carry an additional one, and with no points to calculate – the rewards will be recorded in pounds and pence. It will utilise a state of the art technology system and the chip within the credit cards will be totally electronic, instant and intuitive to cardholders. Retailers who participate in Barclaycard Freedom will be able to offer rewards and relevant offers at their point of sale to over eight million cardholders.

Barclaycard cardholders will automatically earn rewards, called ‘Reward Money’, when they use their Barclaycard at a participating retailer – 1 per cent on most transactions alongside regular special promotions and giveaways. When cardholders use their card in a participating retailer they will see the value of their Reward Money balance appear on the card machine before they enter their PIN to pay. They can then choose to redeem some or all of their Reward Money rewards towards that transaction or to continue to save up for a future purchase at another retailer within the scheme.

Barclaycard has invited more than 30,000 retailers of all sizes to be partners in the scheme, meaning that when it launches in March it will be a rewards coalition of unprecedented size and scope. On average, there will be 200 retailers within five miles of where a cardholder lives. Barclaycard Freedom will be supported by a significant marketing campaign with TV, online and print advertising driving awareness about the programme for customers.

Participating retailers will benefit from a loyalty scheme that includes over eight million cardholders at launch meaning there will be on average 75,000 Barclaycard cardholders within five miles of a retailer’s store.

Via EPR Network
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Financial, Financial Services, Home Equity, Insurance, Insurance Services, Loans, Money, Mortgage, Personal Finance

Interest Rates Are Held, But Mortgage Lenders Hike Their SVRs

2010 has started with yet another interest rate hold by the Bank of England – the tenth consecutive hold decision since Bank Rate was cut in March to an all-time low of 0.5%.

Interest Rates Are Held, But Mortgage Lenders Hike Their SVRs

Mortgage lenders Standard Variable Rates (SVRs) have also been very low over the last year, but despite Bank Rate remaining unchanged, a number of lenders have been increasing their SVRs – pushing up mortgage costs for thousands of borrowers. As this trend continues, more and more borrowers should consider switching their mortgage to a new deal.

Although SVRs tend to follow the Bank Rate, lenders can change their own rate at their discretion. Lenders such as C&G and Nationwide have rules in place which guarantee that their SVRs can be no more than 2% above the Bank’s base rate, but other lenders have no such restriction.

While the SVRs of both C&G and Nationwide remain at 2.5%, a number of lenders have recently increased their rates and some are now charging more than twice that rate. Marsden Building Society recently announced an increase in SVR from 5.49% to 5.95% effective this month and Kent Reliance increased theirs by 0.3% to a huge 6.08% from 1st December.

Others have increased by even bigger margins. Accord (part of Yorkshire Building Society), last month raised its SVR by 0.65% and Cambridge Building Society went up by 0.59%.

Most recently, Mansfield Building Society announced that it was increasing its SVR by 0.35% to 5.59% – effective from the 11th January for existing borrowers.

David Hollingworth, Head of Communications for L&C, said, “Following these rises, the gap between the lowest and highest SVRs is now more than 3.5%, so depending on which lender you’re with, paying the Standard Variable Rate could prove costly.

“If you’ve been paying your lender’s SVR, don’t just assume that it’s the best rate for you at the moment – you could be paying more than you have to and you could see you monthly mortgage payments increase out of the blue.”

A simple way to check if you’re paying too much for your mortgage is to use L&C’s 1 Minute Mortgage Check answer 3 simple questions and they’ll tell you if you could save money on your mortgage.

Via EPR Network
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Financial, Financial Information, Financial Services, Insurance

LV = Launches New 50 Plus Plan TV Advert

LV=, the insurance, investment and pensions group, has launched its fifth TV advertising campaign to promote its ’50 Plus plan’. The new TV advertisement was created by creative marketing agency ‘redtag’ to promote the LV= life insurance policy.

The new TV advertisement has been developed with the LV= brand and features three different families, with each one giving their perspective on losing a parent. It highlights how the money they received from the 50 Plus insuranceplan provided by LV= helped them at a difficult time. The theme of the advertisement is to ‘Look after what you love’.

Geoff Bates, Head of Direct Distribution for LV=, said: “We get a lot of feedback on the reasons why our customers buy our product, and leaving a legacy that helps their family at a difficult time is at the core of those reasons. We are pleased that the new advertisement demonstrates so clearly that protecting families is at the heart of our business.”

Launched in October 2004, the LV= 50 Plus plan is aimed at 50 to 80 year olds, living in the UK. The over 50 life insurance policy provides guaranteed cover with a cash lump sum payable on death, without the need for a medical or answering any health questions.

Kevan Kelsey, Creative Director at redtag, said: “It’s a new approach that takes the tried and tested formula we know customers like and uses it in a dynamic and emotive way”.

The life insurance advertisement was previewed on Facebook and YouTube in December 2009 before being launched on terrestrial, satellite and cable channels in January 2010.

Via EPR Network More Financial press releases