JP Morgan enters UK credit card market with launch
JP Morgan’s Chase retail brand is rolling out its first ever credit card to UK customers, three years after landing on the British retail banking scene.
The digital only bank originally offered savings accounts, current accounts and investments but it confirmed on Tuesday (19 November) that it will now offer the card to small test group of UK 25,000 customers.
The bank is not yet accepting applications for new credit card customers through its website.
“Our colleagues have been busy testing the new Chase credit card – and it's now ready for a small group of eligible customers to apply for,” a spokesperson said in a statement.
“This group will help us make sure everything works by the time we invite more customers to check their eligibility in the Chase app. Over the coming months, we'll be inviting more customers to check their eligibility in the Chase app.”
Chase’s roll out of its first UK credit card follows a major campaign at the start of October which was designed to improve awareness of the functionality of the Chase UK app.
The bank now has around two million UK customers and a substantial deposit base. It’s decision to push more aggressively into the UK retail market comes after Citi and Deutsche Bank have both scaled back aspirations in the past five years.
Chase UK has its regional headquarters in London with operations also based in Bristol, Edinburgh, Manchester, Leeds and Bournemouth.