The promise of a cash reward is now the third most important feature that consumers look for in a credit card(2), as they attempt to get the most from their money in today’s economic climate.
What is a cash back credit card?
A cash back credit card is similar to other types of credit card that offer reward schemes but, instead of points or air miles, it gives the customer a reward that is based on the amount they spend on the card.
The cash back is usually accrued on a monthly basis and paid into the holder's account either monthly or annually. The Asda Money Credit Card accrues monthly cash back and offers 1% cashback on Asda shopping and Asda petrol, and 0.5% when the card is used elsewhere.
What should I be aware of when taking out a cashback credit card?
Some cash back credit cards have limits on the amount of cashback you can receive, such as putting a cap on the cash back you can generate on your monthly spending.
In some cases credit card providers may also offer a higher rate of cashback for a fixed amount of time, and then reduce this rate incrementally after this period.
Some reward schemes, including cash back, may be withdrawn if you are late or fail to make the minimum monthly payment.
Making the most of your cash back credit card
As well as offering a fixed rate of cashback on general spending, some credit card providers will also offer cashback on particular purchases such as food or travel.
As a result it is important to asses which cashback cards offer the best rewards for your needs.
It is also important to look at the additional features offered by your cash back credit card, such as balance transfer offers and a competitive annual percentage rate (APR).
The Asda Money Credit Card offers unlimited cashback on your spending, no matter where you use your card.
Notes to Editors
- Defaqto/ Capital One report: http://www.bbc.co.uk/news/business-20208285
- As above: http://www.bedfordshire-news.co.uk/Home/Cashback-is-the-Third-Most-Important-Thing-People-Look-for-in-a-Credit-Card-03122012.htm
Asda Money Credit Card
- 1% cashback on Asda shopping
- 1% cashback at Asda filling station
- 0.5% cashback everywhere else you spend
- 0% balance transfers for 12 months*
Standard Purchases: 14.9% p.a variable.
Representative 14.9% APR variable.
Total amount of credit £1200.
This is for illustrative purposes only and actual total amount of credit may differ.
*Balance Transfer Terms and Conditions: Balance Transfer fee of 2.9% (minimum fee £3 per transaction) will be charged in respect of each Balance Transfer. Subject to account status. Account Terms and Conditions apply. You can Balance Transfer up to 80% of the available credit limit within the first 90 days of account opening. Balance Transfers from existing storecard accounts and loans issued by Creation Financial Services Ltd or Creation Consumer Finance Ltd and credit card accounts issued by Sygma Bank UK are not permitted. Minimum value for Balance Transfer is £50. At the end of the promotional period you will be charged the Standard Rates of Interest in accordance to your Account.
Asda Money is a trading name of Asda Stores Limited. Asda Stores Limited uses a selection of companies to provide its products and services. Please refer to www.ASDA.com/money for details of our product partners and the relevant terms and conditions for each of our products and services.
Subject to status. Applicants must be aged 18 or over and UK resident (including Isle of Man and Channel Islands). The Asda Money Credit Card is issued by Sygma Bank UK (Creation), Chadwick House, Blenheim Court, Solihull B91 2AA.
For more information please call:
Katie Hayward / Rebecca Annable / Rozie Green
0207 294 3631 / 0207 5669731 / 0207 566 9724
- Contact Name:
- Katie Hayward / Rebecca Annable / Rozie Green
- Asda Money t/a Asda Financial Services Limited
- Contact Email:
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- Contact Phone:
- 0207 294 3631 / 0207 5669731 / 0207 566 9724
- Company Website: