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Adam & Co woos clients with credit card
by Dylan Lobo on May 02, 2014 at 09:30
Adam & Co has launched a credit card which opens a range of possible benefits to its clients.
To increase its appeal the Adam Black Card will have a unique design inspired by the Grand Thistle Handprint from the Scottish Walpole brand Timorous Beasties.
The benefits include access to the Adam Concierge service, offering everything from help with booking flights and car hire, to running leisure arrangements and chartering a yacht. For those with especially hectic lives, the service also aids sourcing of cleaners gardeners and nannies alongside other domestic needs.
The card available in sterling with a 45.6% variable APR. For purchases, cash advances and balance transfers the monthly rate is 1.15% and an annual rate at 14.71%.
The credit limit stands at £10,000, although this can be increased if agreed. If a client spends £50,000 in the 12 months after opening an account the benefits can be enjoyed at no cost, otherwise a £200 fee is levied.
Adam & Co managing director Graham Storrie (pictured) said: 'Following client research and feedback, we decided to enhance our banking proposition and introduce the prestigious Adam Black Card.
'With a number of exclusive benefits, this card has been specifically designed around the needs of our clients and to ensure we continue to offer relevant and market leading products in conjunction with our high quality personal service.'
Adam & Co will hope the card can help keep clients happy after a difficult period has seen its state-owned parent forced to cut investment to the firm during the credit crunch, resulting in a number of job losses.
It also faces a real battle to hold onto clients amid competition from former chairman Ray Entwistle, who has set up his own private bank Scoban, which recently rebranded after receiving a major investment boost.
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