i24 card celebrates first birthday with perks for every cardholder

Morgan Stanley i24 cardholders will be celebrating the Card’s first anniversary this month having redeemed an average of £1,050 worth of benefits over the last 12 months.
i24 cardholders receive a market-leading one per cent Cashback Bonus on all purchases.

With an average spend of £3,506 every month, i24 cardholders reaped average cashback rewards of £420 over the year – this single benefit far exceeded the annual fee of £275 for the card.

The i24 Card’s commission-free use abroad function saw cardholders add another £197 to their tally of benefits. Over the last 12 months 17 per cent of monthly spend on the i24 Card was spent abroad. Assuming standard loading fees of 2.75%, i24 cardholders enjoyed average annual savings of £197.

Figures for use of the Priority Pass membership to access airport lounges also suggest a high take up of this feature – on average each cardholder has used this benefit at least once. The concierge service has also proven popular with cardholders – 80 per cent of cardholders that used the concierge service used this at least three times. This high number of repeat use suggests that cardholders are realising the value of this service.

Cardholders have also enjoyed comprehensive annual multi-trip travel insurance, emergency travel assistance over the last 12 months. This benefit added an additional £179.10 to the value of benefits redeemed by cardholders.

Patrick Muir, marketing director at Morgan Stanley Consumer Banking, said “One year after launch it is clear that our customers are genuinely benefiting from the raft of exclusive rewards offered by the i24 Card – the value of these perks pays for the card almost four times over. The i24 Card was designed to provide genuine benefits to a higher income audience and these figures prove that the Card rewards match the lifestyle of its customers.”