Sainsburys Finance 'aiming for gap in the market'

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Sainsburys Finance 'aiming for gap in the market'

Fri 10th Sep 2010

There is a gap in the credit card market that Sainsburys Finance hopes to fill with a new product, according to a spokesperson for the brand.

Stuart McKeggie, head of credit cards at the organisation, made his comments regarding the launch of the company's Gold Credit Card, which offers an interest rate of 9.94 per cent on purchases, family travel insurance and no fees on using the account abroad.

"We believe there is a gap in the market for a more affordable fee-based card such as ours that offers customers great benefits when they use it," he said.

Mr McKeggie pointed out that premium credit cards have been around for a long time, but they normally cost upwards of £250, whereas this product is £5 per month.

In his opinion, credit card users are simply looking for more from their providers, even though it is hard to say if the use of such accounts has become more popular recently.

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