Barbados has a new debt card company. And the principals of Freedom Money & Rewards Inc. (FMR) said it meant shoppers now had “an opportunity to manage their money, get preferential treatment at retail stores and benefit from specials and deals offered by businesses previously out of their reach”.
FMR was recently launched primarily to address the effects of the economic recession on low and middle income earners.
The company said its debit card “allows for more financial flexibility across all levels of society, and reviving the purchasing power of consumers”.
“Backed by Visa, the card works just like a commercial bank’s debit card, except that its use rewards the owner through an accumulated points system which is redeemable as a cash equivalent for goods and services through the FMR website,” it said.
“FMR has also made it easy for cardholders to put money on the card through anywhere MasterCard or Visa card are accepted. The FMR card also incorporates a flight miles component for frequent travellers who use the card. Other travel deals are available.
“The most attractive part . . . is that the owner has complete control of the card – no hidden fees, no interest payments, and most importantly, no obligation to open a bank account,” it added.
FMR representatives said the company was offering a gold card for general use, while the platinum card was reserved for corporate customers.
They also said spending was not limited to Barbados. Cardholders “can maximize” its potential when shopping at major retail outlets in the United States, Britain and Canada, they said. (PRSC)?
