Data provided by McGregor BFA
All data is delayed
Loading...
See More

Virgin Money to launch credit card

Jan 18 2013 19:09 Reuters

(Shutterstock)

Related Articles

Branson plans to keep Virgin Atlantic

Virgin gets Northern Rock despite protest

Virgin buys nationalised UK bank

Broadband, TiVo lift Virgin's results

Virgin appoints SA space flight agent

Virgin wins Heathrow slots

 

London - Virgin Money, the British financial group backed by Richard Branson, said on Friday it will launch a credit card business after buying £1bn ($1.6bn) of assets from Bank of America's MBNA unit.

The loans being bought are from the Virgin credit card portfolio which has been managed and serviced by MBNA since 2002 under a partnership agreement.

The book will be fully transferred to Virgin Money early next year. Virgin Money, which bought Northern Rock a year ago, said it expected to create at least 150 new jobs through its own credit card business.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

virgin money  |  credit card
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

'Zuma's legacy will be judged by Nkandla'

The legacy of President Jacob Zuma is contingent on how he deals with the issue of upgrades to his Nkandla homestead, says Cape Town Archbishop Thabo Makgoba.

 
 

Latest elections multimedia

Why Jack Parow wants you to vote on 7 May
The ad the SABC doesn't want to air
Elections 2014 in one cartoon
This year's election posters

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...