Consumer Payment Card News

UK Competition

Sun Banking Corporation, a subsidiary of Sun Life of Canada, announced today it will enter the credit card business in the UK. Sun will compete against the likes of Capital One, MBNA America, Household’s Hamilton Direct, and Bank of Scotland’s Capital Bank. According to this morning’s London Daily Mail, U.S. based People’s Bank offers the best long term pricing in the UK with a 15.9% rate on standard and 14.9% rate on gold cards without annual fees.

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