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Tuesday, 21 August, 2001, 06:26 GMT 07:26 UK
Easyjet founder enters banking
Easymoney website
Mr Haji-Ioannou with his old and his new credit card
A new credit card called Easymoney is about to be launched by the founder of the low cost airline Easyjet.

The card will differ from other credit cards because customers will be able to personalise their credit conditions by choosing between different deals.

Varying levels of interest rates, cash back offers and annual fees will be available, similar to the way mortgage lenders offer loans with different conditions.

Over time, the card may also offer loyalty points for Easyjet customers, or those using other "Easy" services such as Easyrentacar, e-commerce operation Easyvalue or internet cafe chain Easyeverything.

The company aims to sell 75,000 cards in a year.

Joint venture

Stelios Haji-Ioannou's latest venture, which aims to exploit the well known Easy trade mark, is a joint venture with the direct lender London Scottish Bank and the credit card company Accucard.

Following the launch of the credit card in September, the joint venture will also offer personal loans.

Earlier plans for a joint venture between Mr Haji-Ioannou and the Bank of Scotland collapsed.

See also:

15 Nov 00 | Business
Easy approach to a jetset day
15 Nov 00 | Business
Easyjet sets flotation price
31 Oct 00 | Business
Easyjet valued at 564m
15 Nov 00 | Business
Low-cost airlines reach new heights
17 Aug 00 | Business
Listing for cyber cafe chain
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