The financial services provider is partnering with selected companies within the Travis Perkins Group to launch a new range of co-branded business credit cards that offer customers extended interest-free periods on payments. The rollout of the new cards kicks off with Travis Perkins and Toolstation this month.
Customers using the cards will benefit from an extended interest-free credit period of up to 116 days for all purchases made at the initial participating companies – Travis Perkins and Toolstation. Customers will also get up to 56 days’ interest-free credit on purchases made in all other retailers where the card is accepted.
The participating retailers will promote the launch in their branches by the end of the month and customers can even apply for the cards via their respective websites; www.travisperkins.co.uk and www.toolstation.com.
All businesses involved expect a good uptake and the launch has been promoted by direct customer feedback, as well as findings from recent Barclaycard research, which revealed that 20% of small businesses cite cash flow as one of the biggest day-to-day obstacles of business growth; second only to the current economic and political uncertainty.
Toolstation marketing director John Meaden said: “Our successful growth as a business has been built on listening to our customers and providing them with the products, prices and services they need, in the right place at the right time. Our trade customers told us they wanted interest-free credit facilities, and our partnership with Barclaycard, one of the world’s leading and most trusted financial service providers, is our response. We are confident the cards will prove very popular, offering another great reason to shop at Toolstation.”
Barclaycard director of small business Ian Reid added: “We’re excited to launch this partnership with Travis Perkins and Toolstation, two of the biggest names in the industry. While cash flow remains one of the main challenges for any growing business, we know that the construction industry in particular is comprised of many sole traders and small teams that frequently make up-front investments before they themselves get paid. We hope our extended interest-free offer will be another way to help them take control of their cash flow.”