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Wednesday, April 12, 2006

Credit Card Next Step For PayPal

Paypal is set to launch its own credit card. This seems the next logical step, and will tie in with their existing financial services & ebay (who own paypal). They will certainly have a fair amount of advertising weight!

What the card will offer:

* 12.9% Interest Rate (This is a fairly standard rate...)
* 0% Interest on balance transfers for first 6 months (This is good to get people on board)
* No Annual Fee (Pretty much the standard in the UK)
* Instant Decisions on applicants.
* ID theft insurance.
* Fraud Protection.

The credit card will be rolled out to selected existing users of paypal first, then will be offered to all from around May.

The card does not seem to offer a great many benefits in my opinion, but im sure it will get a reasonable amount of applications from paypal users who do not currently own a credit card.

It is yet to materialise how the card will offer benefits when joined with other paypal financial services.


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