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Intelligent Finance launches flat rate credit card

Thu, 13 Oct 2005

A flat rate credit card has been launched by Intelligent Finance.

This follows higher demand for a credit card that charges the same rate for purchases, balance transfers and cash withdrawals.

Price comparison website Moneysupermarket.com reports that in the last 12 months, there has been a 25 per cent increase in the demand for low standard APR credit cards.

The new Intelligent Finance credit card offers an interest rate of 8.9 per cent APR variable on all credit card transactions.

"Our new card is designed for people who want a clear, simple and transparent card with a competitively low flat rate," commented the credit card provider's managing director, Nick Robinson.

"There is a growing trend towards standard rate credit cards, and we are responding to that demand."

In addition to being offered a flat rate, credit card holders will also have a grace period of 59 days on all purchases, which is one of the longest in the credit card market.

No annual fees apply to this credit card, and chip and pin technology offers greater payment security.

"Like all our products, it has been designed to help people manage their finances more intelligently," Mr Robinson concluded.

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