Coventry Building Society Credit Card....

karatedragon Posts: 1,148 Forumite
edited 18 August 2010 at 11:35PM in Credit cards
Alas, they currently don't do one. But I am surprised they havn't branched out into this.

But if they did decide to introduce one what would you like from it?

Would be particularly interested to see comments from those who "bank" with them. That is to say have the Coventry First account or some form of savings or borrowing product.

For me I would look for:

;) Open to Coventry members of say 2 or 3 years
;) Managed "In House" - Not farmed off to MBNA/Barclaycard/Whoever
;) 12 Months 0% on purchases
:cool: 12 Months 0% on Transfers with NO, repeat NO handling fee (encourage people to transfer their balances to a members only card)
:cool: 5% APR Life of balance transfer after 0% offer ends. (encourage people to stay) - with periodic offers of 0% in the future?
;) Fee free use on purcahses in Europe
;) Purchase Protection Insurance
;) Cashback on purchases
;) Extended Warrantee on electricals
;) No "rip off" way of allocating the repayments
;) The "option" to have the monthly payment data recorded or not recorded with a CRA. Unless in arrears or defaulting on payments.

Dont want much do I!

Any more ideas???


  • opinions4u
    opinions4u Posts: 19,411 Forumite
    edited 19 August 2010 at 7:31AM
    Love it.

    But I think they might want to offer members such a service in a profitable way ;) .
  • karatedragon
    karatedragon Posts: 1,148 Forumite
    edited 19 August 2010 at 11:20AM
    opinions4u wrote: »
    Love it.

    But I think they might want to offer members such a service in a profitable way ;) .


    I am not sure of the economics but I thought banks/bs's made money out of credit cards through the charges for transactions - the retailer paying?? Then the interest on those who don't pay in full.

    All I did was take some of the services offered by card providers and then mixed them to create an all-in-one card with no need to take out separate cards to serve all the purposes.

    For example the fee free balance transfer - OK so no 2.5% or 3% handling fee. But this really does not make the card 0%?? It's just a cheat. To me this is no different to the "unlimited internet" but in the small print its actually "fair use" attrocity.

    And.... Cards used to be 0% handling fee until stoozers and rate tarts ruined it for everyone.

    Interestingly Northern Bank have 0% handling fee but you have to have the current account with them. To get this you have to be resident in Northern Ireland. So it is not so open to abuse I guess.
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