XYLO Credit Cards | www.xylocreditcards.co.uk
When checking over the Vanquis Bank FCA licence page we spotted an army of trading names listed. The fresh unknown brands had no websites built for them, but there was an exception in the XYLO credit card that is available now through www.xylocreditcards.co.uk. This domain was only registered on the 31st March 2016 and so we can now report on 3 new credit cards launching in the 2016 year. The other 2 newcomers are Chrome that is another Vanquis release and ThinkMoney’s Card that is issued by Capital One. Interestingly, XYLO is neither a direct trading brand nor an affinity partner. Credit Benefit Services has took charge as they have done with Black Diamond.
Both Diamond/XYLO may be FCA listed with the lender, but they just issue each and deal with the logins and support. It is America’s CBS who must take the necessary promotional efforts to make this product a success. This is something that they haven’t done so well with Black Diamond. XYLO’s headed interest rate is 39.9% (39.94%), whilst Diamond’s is 59.9%. If you check in the summary box the complete range is however 39.9% to 69.9%. Diamond’s is exactly the same. For some reason they choose to promote a higher rate on that side. I guess this could be seen as an honourable thing to do since most low scored applicants will be pushed down interest tiers anyway.
The www.xylocreditcards.co.uk site is quite basic in its design, but they do encrypt applications and as the norm EVanquis can later be used for logging in. The card’s theme in orange is styled very well. This Visa starts customers off on a limit between £150 and £1000. It is refreshing to see that £4000 is headlined as the potential return limit (this is higher than Diamond’s at £3500). This new XYLO card unfortunately comes with no key feature to make it stand out. This is what we are really looking for in a fresh new brand. Fortunately, Vanquis have managed to get people talking with Chrome where you’ll find their lowest potential APR deal.