The world’s first gold assured credit card will be launched by Douglas-based bullion depository and trading company IMGold later this year. The ‘Bullion Card’ in association with Catella Bank is backed by Visa and will enable IMGold clients to obtain credit against the value of precious metal they own which is stored in the company’s high security, below ground, vaults in Victoria Street. Bullion Card clients will have the option to purchase a solid gold companion card manufactured by Rosan Diamond Studio. Clients can register to own the card at www.imgold.com – and the company expects the first clients to be using their Bullion Cards later this year.
Ed Pearce, IMGold Managing Director, said:
“Bullion Card will be unique to IMGold customers and allow them the convenience and flexibility to access cash based on the value of the precious metal they own, but without having to sell it. The card will be available for clients holding precious metals with IMGold of at least £100,000 in value at the time of application. Clients will receive a credit limit of up to 50% of the value of their precious metal holding. Initial response from clients has been overwhelmingly positive and we already have a number who have registered to be among the first to receive the Bullion Card.”
Bullion Card is a Visa Infinite card and carries a range of benefits, privileges, and experiences from the global credit card brand including comprehensive insurance, Priority Pass, and Personal Concierge. The card does not have any fixed limits but offers adaptable security thresholds that change over time on the basis of actual usage. Anticipated representative APR is 7% with a 5% minimum monthly repayment.
IMGold, which is the trading name of Isle of Man Bullion Ltd, was launched last year and has offices and vaults which are electronically protected and monitored by G4S with security systems equalling or exceeding industry standards. For more information go to www.imgold.com or call +44 (0)1624 888 888.
Category: Finance & Business