May 15, 2006

By Peter Kenny

Morgan Stanley, the large US investment bank, has just bought the credit card division of Liverpool Victoria.

This latest move by Morgan Stanley comes hard on the heels of their acquisition of the Goldfish credit card brand last December. The Liverpool Victoria deal is a sign that Morgan Stanley wishes to consolidate their presence in the UK.

Details of the deal show that Morgan Stanley will take over the Liverpool Victoria branded, while at the same Liverpool Victoria will provide the current Morgan Stanley with its own insurance products.

It is not known how much this latest deal will increase Morgan Stanley’s UK credit card account for the UK, however, with the December acquisition of Goldfish, Morgan Stanley had £2.3 Billion in UK credit card business.

The current Liverpool Victoria card boasts of 5.9% on all balance transfers for 6 months with an APR of 16.7 per cent. One very useful aspect of the current Liverpool Victoria credit card is the 0% commission on all purchases within the EU, offering a saving of up to 2.75% on every purchase.

Click here for more details on Liverpool Victoria