Bradford & Bingley (B&B) is launching an online credit card-broking service through its Charcol and MarketPlace brands.
Consumers can enter their criteria to see which card on the market is most suitable for them. They can also search by affinity, such as football club or good cause.
The service has gone live this week, but will not carry the full range of cards on the market for another few weeks. All the card data comes from MoneyFacts, which updates the information on a daily basis. B&B receives commission for any cards sold.
The service replicates Charcol’s successful online mortgage and personal loan-broking service.
The issue of credit card charges and consumer debt has become increasingly controversial following criticism from the Treasury Select Committee, and the Government will tidy up legislation later this year.
Since demutualising in 2000, B&B has pursued a strategy of providing financial advice and property-related services, rather than offering products itself. It has created service brands such as The MarketPlace, which claims to be the UK’s largest independent financial adviser. It also bought ethical IFA Holden Meehan in April this year, rebranding it Charcol Holden Meehan. Charcol and Charcolonline are B&B’s upmarket mortgage-broking divisions.