Premier League Or Pub Team?
Before you apply for a sports-branded financial product, take a good look at what's on offer, as some deals are non-league rather than Premiership quality!
I'm rather pleased with how the Premiership is unfolding at the moment as my team, West Ham United, has won seven games in a row, equalling the club record set in 1985/86.This winning streak has helped to lift the Hammers into sixth place in the league, up among the big clubs. That's some achievement, especially when you consider that we were promoted to the Premiership this season after spending two years in the Championship!Speaking of promotion, one way that sports teams make money and publicise their brand is through club-branded financial products, such as credit cards, savings accounts and so on. Manchester United has been particularly successful at stretching its brand in this way, which has helped the Red Devils to become the world's most profitable football club.However, how well do these sports-branded financial products stand up to the opposition? Are they truly of Premiership quality or do they play like a hung-over pub team? Let's take a look (I've listed the six top teams, based on their league position on 23 February):ChelseaDespite being at the top of the Premiership, Chelsea's credit card (issued by MBNA, 15.9% typical APR) and savings account (from Britannia BS, which pays a feeble 2.25% a year before on tax on £1,000) are far from table-topping deals. I bet Roman Abramovich doesn't keep his billions in this awful account!ManchesterUnitedThrough MU Finance, MUFC offers a wide range of financial products, including a credit card issued by MBNA (15.9% typical APR), personal loans via Barclaycard (8.5% typical APR) and a savings account identical to Chelsea's. Frankly, none of these products would get the Old Trafford crowd cheering, so I'd give them all a miss!LiverpoolAgain, Liverpool's MBNA credit card won't set pulses racing at Anfield. At 15.9% typical APR, its interest rate is higher than average, plus its payment protection insurance is unbelievably expensive, as I revealed in Millions Conned By Card Cover. No goals for the European Champions on this occasion!Tottenham HotspurIt's that MBNA credit card again, so no shots on target for Spurs.ArsenalThe Gunners shoot themselves in both feet with (you guessed it) that ever-present MBNA card, plus that second-rate savings account from Britannia BS.West HamIt's that plastic again!MBNA has the market for sports-related plastic sewn up, since it also issues cards on behalf of 37 other football clubs, plus dozens of other sports-branded cards. In fairness, its card does offer 0% for nine months on balance transfers, but charges an uncapped fee of 2% (minimum £3) per transfer. In all other respects, it's pretty mediocre. As for Britannia BS, although it has established a toehold in the footie-related savings market, the account on offer is pretty substandard, because its interest rate is half that paid by the best in the market.In summary, fans who buy financial products from their club must appreciate that they're buying substandard goods. Hence, as with all things sporting, it's purely a labour of love!More: Get perfect plastic and smashing savings accounts via the Fool!