CHESTER, England, September 5, 2016 /PRNewswire/ --
- intu and MBNA today announce a
ground-breaking commercial agreement -
believed to be a UK first - reaching a
potential 35 million intu shoppers a
year
- Developed with MBNA, the new intu
credit card offers a fresh approach
to rewards - with new cardholders
benefiting from intu gift cards as they
spend, exclusive retail offers and
regular discounts
intu - owner of some of the UK's largest and most popular
shopping centres - has worked with MBNA to create a new, pioneering
credit card.
(Logo:
http://photos.prnewswire.com/prnh/20160905/404050LOGO )
(Photo:
http://photos.prnewswire.com/prnh/20160905/404051 )
The new credit card forms an integral part of intu's strategy to
build its national consumer-facing brand by offering intu credit
cardholders a range of benefits whenever they spend, including intu
gift cards. Cardholders can access exclusive offers with retail and
leisure brands in intu centres, from entertainment to leisure and
dining.
The deal between intu and MBNA is believed to be the first of
its kind between a credit card provider and a shopping centre owner
in the UK.
This new collaboration opens up a major new market for MBNA,
after successfully engaging with a range of leading brands over the
years. Consumer insight from MBNA has identified this as a
significant market opportunity for pioneering, new financial
products that will be beneficial for customers.
Over 35 million customers - equivalent to more than half the
nation's population - visit intu's UK shopping centres every year,
which include intu Trafford Centre (Manchester), intu Lakeside (Essex), intu Metrocentre (Newcastle), and intu Victoria Centre
(Nottingham). All in all, intu
customers make an incredible 400 million centre visits a year.
"Thanks to intu's nationwide scale and consumer-facing brand,
we've been able to team up with the UK's leading credit card
experts, MBNA, to create a sector-first commercial agreement that
will form an integral part of our ongoing brand-building strategy
and help all our retailers to flourish," said Trevor Pereira, intu's digital and commercial
director.
"Our combined expertise in retailing, customer experience,
payments and rewards has enabled us to create something very
special for millions of shoppers around the UK. With the new intu
credit card, we'll be extending our customer-first approach
straight to the wallets of our customers, providing them with
moments of delight through our value-added benefits and rewards,
which we have developed though the relationships we have in retail
and leisure."
Michael Donald, MBNA's Commercial
and Payments executive, commented: "We're delighted to be the first
credit card provider in the UK to collaborate with a market-leading
shopping centre owner in a new deal that brings an exciting mix of
rewards and benefits to customers. While many other credit card
providers have been downgrading their loyalty and reward programmes
or exiting this market completely, MBNA has worked with intu to
take a completely fresh approach for customers."
He added: "The result is the new intu credit card, the first of
a new breed of reward credit cards - you might say it's
'bursting with benefits.' We have the expertise to deliver
compelling financial products, tailored around the things customers
have been telling us are important to them. With their help, we've
put together an exciting range of unique offers and exclusive
benefits."
The new intu credit
card
The new intu credit card is available for eligible new customers
to apply for from today (Monday, 5 September). Visit
https://www.mbna.co.uk/compare-credit-cards/rewards-credit-cards/intu/
for more information or full terms and conditions.
The new intu credit card is 'bursting with benefits'
including:
- Up to £60 worth of intu gift cards in the first year.
Cardholders will earn intu gift cards when they make card purchases
anywhere (not just intu centres), including a £20 gift card when
they spend £250 in the first 90 days of opening an account. To
achieve the full £60 worth of intu gift cards, customers spending
£3,000 will receive an additional £20, and when customers make card
purchases of £5,000, they will receive another £20 gift card,
bringing the first year's rewards to a total of £60.
- The intu credit card can be used in conjunction with other
loyalty cards, meaning customers will be able to gain rewards on
both cards, known as double dipping.
- New intu credit card holders can enjoy a free 12-month
membership and discount meals with the Gourmet Society worth £70,
and members benefit from restaurant, cinema and national hotel
offers.
- Exclusive shopping offers. As soon as they receive their card,
customers can access a wide range of ongoing exclusive intu offers
from entertainment to leisure and dining.
- Prize draw entry. Customers are automatically entered into a
quarterly prize draw every time they make a card purchase with the
chance to win items such as a luxury holiday, courtesy of
MasterCard.
- Customers enjoy a promotional rate of zero per cent on card
purchases for up to 12 months from when the account is opened. When
this offer period comes to an end, a standard rate, which is
currently16.9 per cent, will apply.
- For transfers made within the first 60 days from account
opening, the intu credit card enables cardholders to transfer
existing debts from credit or store cards with zero per cent on
balance transfers for up to 12 months. A handling fee of 2.99 per
cent will apply. After this period a standard rate, which is
currently 18.9 per cent, and handling fee of 5 per cent will
apply.
- For transfers made within the first 60 days from account
opening, customers can transfer money into their bank account with
zero per cent on money transfers for up to 12 months. A handling
fee of 4 per cent will apply. After this period a standard rate,
which is currently 23.9 per cent, and handling fee of 5 percent
will apply.
Eligibility for the credit card is dependent on individual
circumstances and the results of MBNA's eligibility check. The APR,
credit limit and terms of the offer may differ from the examples
above.
Representative example 16.9 per cent per annum variable on card
purchases. This is the equivalent to 16.9 per cent APR
representative variable based on a credit limit of £1,200.
For the latest deals and offers available on the intu credit
card and for full card terms and conditions, please visit please
visit
https://www.mbna.co.uk/compare-credit-cards/rewards-credit-cards/intu/.
Editor's notes:
People interested in applying for the new intu credit card can
check their eligibility before applying. As part of MBNA's
eligibility check, a quotation search will be carried out which
won't show up on their credit record as a full search, so it won't
affect their credit rating. The APR, credit limit and terms of the
offer may differ based on their circumstances.
Promotional offers will no longer apply from the beginning of
any statement period during which customers have breached their
terms and conditions; for example, if they haven't paid on time or
have gone over their credit limit. Cardholders cannot transfer
balances between MBNA accounts.
About intu:
intu is the UK's leading owner, manager and developer of prime
regional shopping centres with a growing presence in Spain. intu is passionate about creating
uniquely compelling experiences, in centre and online, that attract
customers, delivering enhanced footfall, dwell time and loyalty.
This helps intu's retailers flourish, driving occupancy and income
growth.
A FTSE 100 company, intu own many of the UK's largest and most
popular retail destinations, including nine of the top 20, with
super regional centres such as intu Trafford Centre and intu
Lakeside and vibrant city centre locations from Newcastle to Watford.
intu are focused on four strategic objectives: optimising the
performance of their assets to deliver attractive long term total
property returns, progressing their UK development pipeline to add
value to their portfolio, leveraging the strength of intu's brand
and seizing the opportunity in Spain to create a business of scale.
intu is committed to the local communities, intu's centres
support over 120,000 jobs representing about 4% of the total UK
retail workforce, and to operating with environmental
responsibility.
intu's success creates value for their retailers, investors and
the communities they serve.
About MBNA Limited:
MBNA Limited is a wholly owned subsidiary of Bank of America
Corporation (NYSE: BAC). It is one of the UK's leading credit
card providers and was voted by customers as Credit Card Provider
of the Year for the third year running in the Consumer Moneyfacts
Awards 2016. MBNA is committed to implementing innovations to
improve the credit card experience for its customers. Headquartered
in Chester for over 20 years, the
company has a long history of investing in community projects in
across North West of England and
North Wales.
SOURCE MBNA Ltd