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News: Morgan Stanley rolls out ultra-premium card

Morgan Stanley's UK credit card operation has announced the launch of its ultra-premium card - the i24 Card. The i24 Card, a partnership with MasterCard, offers a 1% cashback on all purchases and doesn't charge a foreign exchange fee.

Additional features include 24/7 concierge service providing both 'discovery' and 'recovery' functions, whether it be booking an exclusive restaurant and buying that special gift for Valentines Day, or by making a translator available at 4 o'clock in the morning on the other side of the world.

Cardholders will also have access to over 450 airport lounges through the Priority Pass membership, comprehensive annual multi-trip travel insurance, emergency travel assistance and an additional card for partners or family members.

The card charges 13.9% on purchases. However, the typical APR is a whopping 57.8% - based in large part on an annual fee of £275 factored into a notional £1,500 of credit as required under Consumer Credit Act regulations.

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