Guardian Unlimited Business | | PayPal to launch credit card:
Tuesday April 11, 2006
"PayPal, the money transfer arm of online auction site eBay, today announced it is to branch out into credit cards.
The business, which has more than 10m UK accounts, is linking up with GE Money to offer credit cards to people in the UK.
The card has an interest rate of 12.9%, with 0% interest on balance transfers for the first six months and no annual fee.
It will initially be available only to selected account holders, but from mid-May anyone will be able to apply."