comparethemarket.com Launches Major Push in Credit Cards and Loans

LONDON, January 27, 2012 /PRNewswire/ --

- New service shows customers how much they will save by switching cards -

comparethemarket.com, one of the UK's leading price comparison sites, today announced a major drive to attract more credit card and loans customers.  

Already one of the market leaders in car, home, pet and van insurance comparison, comparethemarket.com plans to build market share in the money sector with a new comparison service that offers customers a simple way of comparing credit cards and loans to find the best product for their own personal requirements.  

The new credit card comparison service is unique in the market, showing customers exactly how much they could save on interest payments by switching credit cards. Simple and intuitive tools enable credit card customers to enter their own details such as current APR and balance transfer amount to get personalised results. Similarly, comparethemarket.com's new price comparison service for loans allows customers to view the repayment figure based on their individual requirements.

comparethemarket.com is backing its new credit cards and loans comparison service with a major advertising campaign across TV, online and outdoor media - the first time the brand's award winning meerkat campaign will focus on non-insurance products.  

The company is also extending its hugely successful Simples Rewards scheme to credit card and loan customers. From 12th January all customers who successfully apply for credit cards or loans through comparethemarket.com will be eligible to receive an exclusive Meerkovo toy*. To date over half a million customers have claimed a meerkat toy since the scheme was launched in July 2011 across a range of insurance products.  

Paul Galligan, Managing Director of comparethemarket.com, said: "With the huge range of credit cards and loans available it can be hard for customers to find the right product for their own personal needs. We wanted to show customers exactly what they could save on credit card interest and exactly what they would have to pay back on a loan. Products are displayed in order of the saving or repayment figure so customers can clearly see upfront the information they need. This makes it easier for them to make the best choices."

The new advertising campaign, launched on 15^th January, features comparethemeerkat.com founder, Aleksandr Orlov considering drastic action in response to comparethemarket.com's new credit card and loans comparison service and the new threats this brings to his own meerkat comparison site.

The new comparison service will initially be available to customers seeking credit cards and loans, but will be rolled out to other money products in 2012.

For further details visit http://www.comparethemarket.com  

*Maximum of two credit card claims in a 6 month period. Terms and conditions apply.

About comparethemarket.com

• comparethemarket.com was launched in 2006 and has grown rapidly over the past six years to become one of the UK's leading price comparison websites.  
• comparethemarket.com provides customers with an easy way to make the right choice for them on a wide range of products including motor, home, life, travel and pet insurance as well as utilities and money products such as, credit cards and loans.
• comparethemarket.com actively selects its brand partners, working with the best and most trusted organisations to ensure quality service to consumers.

comparethemarket.com is a trading name of BISL Limited. BISL Limited is authorised and regulated by the Financial Services Authority.

Registered Address: Pegasus House, Bakewell Road, Orton Southgate, Peterborough, PE2 6YS. Registered in England number 3231094.

About comparethemarket.com's new credit card and loan comparison service

• comparethemarket.com is introducing a new way for its customers to compare credit cards and loans from December 2011. The aim is to provide customers with an intuitive and simple way to compare credit cards and loans, making it easier to find and select the best product for them. The new comparison service is currently available on credit cards and loans but will be rolled out to other financial products over the coming months.  The new credit cards and loans comparison service is based on three key principles:

• Clear comparison based on cost - All variables are taken into account to give customers one overall savings figures for credit cards or a lowest repayment value for loans. We think this approach is unique for credit cards among price comparison sites in showing customers an overall saving/loan repayment figure based on the information they input.

• Personalised comparison - Simple and intuitive ways for customers to input and vary their specific requirements in order to find the best product for them.

• Best product first - Products are displayed in order of the saving/repayment figure, which always appears at the top of the page, without exception.  There are no deals with suppliers where a particular product is promoted to the top in place of better products from other brands.