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Credit Cards -
Jordan to launch new credit card
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Glamour model Jordan a.k.a Katie Price has gone plastic again, unfortunately for her male fans it is to enhance her financial assets withthe launch of a credit card rather than her more commonly associated ones.
The card, that is promised to be pink and girly, is now known to be part of a range of projects formulated around a new naked silhouette logo of the model. This element has caused alarm amongst consumer groups who believe that the card’s attractive appearance and celebrity endorsement will reel in young women, who could be prepared to overlook the fact that it encourages overspending.
Damon Gibbons, of Debt On Our Doorstep told the Sunday Mirror last week: "This is a totally irresponsible idea. Jordan is a very influential celebrity who has a lot of young fans who want to be just like her.
Giving them a credit card endorsed by Jordan herself will encourage youngsters to spend cash on living a lifestyle they wouldn't normally be able to fund.
Uk debt is currently up to around £1.3 trillion. The last thing young people need is to be sold a glossy celebrity-backed credit card."
Jordan will become the first British star to have a credit card endorsement, which has become the norm in the United States after Donald Trump and rap music manager Russel Simmons formulated the concept four years ago.
It isn’t quite so unusual to British Sports teams however as Arsenal, Manchester United, Chelsea and even Leeds United have aimed cards at loyal fans. In tennis, the Lawn Tennis Association offer special cards with relevant discounts as do the Rugby Football Union. Stoke City football club have gone one step further and even offered a special building society account in addition to a card. The scheme, in conjunction with Britannia, enables a donation to be made to the club for every transaction made.
A spokesman for the model added: “This is something we are in talks with financial companies about doing in the next year.
It will be the Katie Price credit card and it will be her card rather than something Katie just puts her name to.”
It remains to be seen if this card will be able to rely on just the glam factor alone, as repayment rates on such niche cards are notoriously high and with the venture already admitting that it is focusing on the youth market it will have to be very carefully marketed to avoid the wrath of the regulators.
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