The Intermutual Credit card is one of the growing band of credit cards that offers you (the user) something back for spending with it.
However, this one is different - it isn't cash or points that you get back, but shares, real, tradeable shares - not a gimmick, not a pretend, but shares ... Read review
The Intermutual Credit card is one of the growing band of credit cards that offers you (the user) something back for spending with it.
However, this one is different - it isn't cash or points that you get back, but shares, real, tradeable shares - not a gimmick, not a pretend, but shares in a live, trading, quoted company !!
So, what's the deal ?
Well, for every £1 you spend, you get 1% back in shares ... ...??
Well, the shares are being given a minimum assumed value of 20p each, so at current prices you are being given a share traded at c10p for every 20p you earn - so that's the catch - it's currently worth only about 0.5%.
Any other catches ??
Well, you will have dealing costs if you sell them, but if you don't, well the sky is the limit (in theory) and your credit card spending could be worth a lot more ... more
The Intermutual Credit card is one of the growing band of credit cards that offers you (the user) something back for spending with it.
However, this one is different - it isn't cash or points that you get back, but shares, real, tradeable shares - not a gimmick, not a pretend, but shares in a live, trading, quoted company !!
So, what's the deal ?
Well, for every £1 you spend, you get 1% back in shares - simple and uncomplicated.
What's the catch ??
Well, the shares are being given a minimum assumed value of 20p each, so at current prices you are being given a share traded at c10p for every 20p you earn - so that's the catch - it's currently worth only about 0.5%.
Any other catches ??
Well, you will have dealing costs if you sell them, but if you don't, well the sky is the limit (in theory) and your credit card spending could be worth a lot more !!
Advantages: Interesting share rebate for purchase/transfers Disadvantages: A long-term investment
Totalise, the ISP, are offering a credit card in conjunction with the People's Bank of Connectiucut.
I applied on-line a week ago and the card arrived this morning. No fuss. It was simple to activate - no phone queue and the credit limit is generous (without being wild). Customer service is all on an 0800 number.
The card's principal draw for Totalise members is that it offers shares for money spent/balances transferred. 1% of the sum spent on ... ...in Totalise sahares (cuurently trading on AIM at about 14p). The company looks sound (as technology companies go) and so the shares have potential. Totalise has generated considerable revenue already from - amongst other things - its car import site. It plans to expand the financial services on offer next year.
The small print says that the number of shares awarded will be based on their average price in the five days before the end of the quarter ...
TheSmudger 14.12.2000 (08.12.2000)
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Ciao members have rated this review on average: helpful Review of Intermutual Credit Card
Advantages: lower apr and you earn shares Disadvantages: must be a Totalise customer to benifit from the shares
The intermutual credit card is bought to you by internet service provider Totalise in conjunction with the Peoples bank (USA).
The card offers a 6 month introductory 4.9% apr on all purchases and balance transfers.
The normal apr is just 15.9% variable.
The card also offers telephone access to your account as well as a quick and simple balance transfer service.
It comes with no annual fee.
The minimum monthly payment is only 2% or £5.00 whichever ...
sharkman 06.03.2001
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Ciao members have rated this review on average: helpful Review of Intermutual Credit Card
Advantages: APR , Cashback Disadvantages: Poor Peoples Bank service , no cashback on cheques
I recently received an Intermutual Card and thought I'd share my experiences with readers.
The Credit Limit was OK and the introductery APR 0f 4.9% was excellent. Obviously the big attraction is the 1% back in Totalise shares but I am a bit skeptical about this - it is based on a share price of 20p so at the current price of 12p the value is more like 0.6% which makes Egg or Goldfish a better choice at present.
Annoyingly , balance transfer cheques ... ...All told , I am not really aware of any real advantage of Intermutual but will continue using it at least until the 6 month introductory period ends. Who knows - maybe Totalise shares will go through the roof and it really will have been a wise investment! ...
drewsie 16.04.2001
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Ciao members have rated this review on average: helpful Review of Intermutual Credit Card
...advertising is on the web, intermutual have to be competitive. The cards can easily be applied for on-line with little fuss. The card arrives with speed. The customer service is good. The sites are secure. What else would you want? Maybe a lower interest rate, well, they are around 14% with intermutual, but check totalise home page regularly to hit the latest and possibly the best interest rates around for a card with much to offer. ...
willsmj 03.03.2001
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Ciao members have rated this review on average: helpful Review of Intermutual Credit Card
