Powered by MOMENTUM MEDIA
subscribe to our newsletter

Bank launches new credit card following broker feedback

A non-major lender has introduced its first credit card, which is being made available to new customers through the home loan application process.

ING Direct rolled out its Orange One credit card this week, which comes with variable interest rates of 14.99 per cent per annum (p.a.) for purchases and cash advances and 9.99 per cent p.a. for installment plans for large purchases, the terms for which are set by the cardholder.

The card has no annual fee for the first cardholder and up to 45 days interest free.

Customers can also choose to add cashback rewards and gain 1 per cent cash back, up to $30 monthly.

ING head of distribution Mark Woolnough said the card was launched to help customers “get ahead” in their finances and to appeal to brokers.

Advertisement
Advertisement

“We know that brokers and home loan borrowers have been asking for some time for an ING credit card as part of a home loan package, and we’re happy to be able to deliver Orange One – a product that we believe is a responsible approach to credit,” he said.

“[The card] has increased minimum repayments which significantly shorten how long it takes a customer to pay down their debt, it requires autopay and has alerts for managing credit, and provides cashback rewards instead of points, so customers know exactly the value they are getting.”

Applications are currently open to existing ING clients or through home loan applications for new clients.

[Related: Lenders’ ‘tempting offers’ lead Aussies to overspend on cards]

Bank launches new credit card following broker feedback

PROMOTED CONTENT


>ING Direct rolled out its Orange One credit card this week, which comes with variable interest rates of 14.99 per cent per annum (p.a.) for purchases and cash advances and 9.99 per cent p.a. for installment plans for large purchases, the terms for which are set by the cardholder.

The card has no annual fee for the first cardholder and up to 45 days interest free.

Customers can also choose to add cashback rewards and gain 1 per cent cash back, up to $30 monthly.

ING head of distribution Mark Woolnough said the card was launched to help customers “get ahead” in their finances and to appeal to brokers.

“We know that brokers and home loan borrowers have been asking for some time for an ING credit card as part of a home loan package, and we’re happy to be able to deliver Orange One – a product that we believe is a responsible approach to credit,” he said.

“[The card] has increased minimum repayments which significantly shorten how long it takes a customer to pay down their debt, it requires autopay and has alerts for managing credit, and provides cashback rewards instead of points, so customers know exactly the value they are getting.”

Applications are currently open to existing ING clients or through home loan applications for new clients.

[Related: Lenders’ ‘tempting offers’ lead Aussies to overspend on cards]

Bank launches new credit card following broker feedback
mortgagebusiness

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

Latest News

The prudential regulator has written to ADIs to ensure that they are proactively managing lending risks and focusing on lending standards am...

As it waits for APRA to approve its acquisition of MyLife MyFinance, Challenger has flagged plans to expand the bank’s lending remit to co...

Australia has the second-highest mortgage debt as a proportion of GDP among OECD nations, according to a new report. ...

How long do you think it should take to discharge a mortgage?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.