More Th>n, the direct financial services arm of UK insurer Royal & SunAlliance, is to conduct a combined e-mail and SMS marketing campaign to promote a new do-it-yourself credit card, which offers consumers the opportunity to select their own levels of interest, cashback rewards and annual fees.
The company is launching the card on the back of research which shows that over two thirds (18 million) of borrowers with low introductory rates clear their balances every month.
Graham Hollebon, head of credit cards at More Th>n comments: “Research shows that although the more financial savvy consumers are those who are aware of the better standard rates available, they tend to be those who pay off their balance in full each month. 0% introductory rates are therefore worthless to millions and providers need to offer something more to consumers.”
Developed in association with Accucard, the new More Th>an credit card enables customers to choose their own combination of interest rate, cash back rewards and level of annual fee. In addition to being able to tailor-make their own card and its design, customers can change the card’s profile up to three times a year free of charge.
The company has adopted a range of marketing campaigns to promote the new card, including two e-mail promotions: one to a database of 70,000 More Th>n customers and another to an external database. SMS messages will also be sent out to people who have pre-registered on the More Th>n Web site.