Egg launches credit card in France

Egg launches credit card in France

Internet bank Egg has announced the arrival of la Carte Egg, an international Visa card and the first product to be launched by the UK-based company in France.

Egg says the card will offer consumers one per cent cash back on all purchases and an APR of 12.99 per cent. Customers applying before December 21 2002 will have their annual fee waived for the first year (normally €35 p.a.) and can receive five per cent cash back on purchases up to the year end.

The company has also signed a retail distribution deal with French communications company Avenir Telecom.

Paul Gratton, chief executive of Egg plc, says: "We have a compelling proposition and a meaningful and distinctive brand. It's an online banking market about to take off."

Egg announced the completion of its acquisition of Zebank in May this year for €5.5 million.

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