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Zero percent interest for new meCARDS customers

United Arab Emirates: Wednesday, April 09 - 2003 @ 12:01

Moving away from the ‘limited offers’ on credit cards, currently marketed by major UAE banks, meCARDS now gives a permanent guarantee, to every new Visa or MasterCard meCARD cardholder, of zero percent interest on their balance in the first three months, and the low monthly interest rate of 1.5% thereafter.

The zero percent offering is applicable to not only credit card purchases but also on cash withdrawals and balance transfers. Even those wishing to transfer their balance from another local credit card after three months can benefit from a competitively low interest rate of 0.8325% per month (for three months).

meBANK’s move into permanent features such as this is part of its overall strategy of mixing standard features with ‘one-off’ incentive promotions.

Louis Scotto, General Manager Retail Banking – Emirates Bank International said, “The market is now saturated with limited offers for new credit card applicants. At meBANK we want to start our customers off on a permanent footing and allow them to plan ahead without worrying about whether the special offer will be taken away from them at any time. Whilst we are still providing one-off offers on all of our products such as our latest gold and diamond promotion on mePERSONAL and meDRIVE loans, the time has come to standardise more significant decision making triggers such as account/card opening interest rates.”

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Wednesday, April 9- 2003 @ 12:01 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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