Credit card launch offers money back for university

Called iPledge, the scheme is designed with the support of Accucard – a credit company owned by Lloyds TSB – and the Children's Mutual to encourage better planning for children's long-term savings needs by offering up to 0.8% back on every transaction. Rates of cash back will depend on the low, medium or higher rate of interest individuals pay on their credit card, but at the higher rate of credit interest, every £100 spent will receive 80p – paid every six months - into a Children’s Mutual deposit account sourced by the Bank of Scotland, alongside the 4% gross interest the account alrea...