HMV store card promises added value for shoppers

Entertainment retailer HMV is to launch a store card on Monday in an attempt to understand customers better and offer added value.

The launch comes at a time when store cards in general are under the spotlight, following criticism from MPs that they rip off customers.

But HMV marketing director John Taylor defended the initiative and said cardholders will be offered exclusive offers and promotions.

He said: 'We will give customers something that they won't be able to get anywhere else. We are trying to give a lot of added value, rather than saying here's a credit card, go and get yourself into debt.'

HMV will use the card to target customers with products relevant to their purchase history. He said that cardholders could also receive benefits, such as early entry to Sales and exclusive releases.

The card will credit customers£1 for every£100 spent at HMV in-store or online.

It can also be used as a credit card at 35,000 retail outlets throughout the UK that have Style Financial Services as a partner, which include Next, JD Sports and Sainsbury's. The APR will be 29.9 per cent.

Separately, HMV will launch a new-look store in the Bullring in Birmingham, featuring redesigned signage, floors and counters.

The outlet, which opens on September 4, will give HMV more than 1 million sq ft (92,900 sq m) of trading space.