Asda Money reward credit card offer new customers £20 cashback - should you sign up?

byblognet -
0

Asda shoppers can earn rewards on what they spend - both in store and elsewhere - with the Asda Money credit card. 

The Asda Money Credit Card - from Asda and Jaja Finance - offers cashback when you spend in Asda supermarkets and in its fuel forecourts, as well as purchases outside of Asda. This cashback can then be converted into vouchers and spent in store.

New customers can also get £20 in Asda Pounds if they take out one of these cards before 28 February 2023. 

With inflation at 10.7% and food prices continuing to rise, this could be a convenient way to save money on your weekly shop.   

Here, Which? takes a closer look at the rewards on offer, and how the Asda Money credit card compares to other deals on the market. 

What does the Asda Money credit card offer?

The card, launched with Jaja Finance, offers 1% cashback in ‘Asda Pounds’ when you use your credit card to buy groceries, fuel and other Asda services - including travel insurance. 

If you sign up to the card before 28 February 2023, you'll get £20 in Asda Pounds if you make a purchase of £5 or more in the first 60 days. 

The card offers 1% cashback on all Asda purchases and 0.3% cashback on purchases made elsewhere. For example, if you spent £100 in Asda, you would earn one Asda Pound. 

The card is supplied by Visa, has no annual fee and a representative APR of 22.9% (variable).

How to use Asda Rewards

Shoppers will be rewarded through Asda’s loyalty programme - Asda Rewards.

To get the cashback you've earned, you’ll need to download the Asda Rewards app for free and link it to your credit card. 

Your Asda Pounds can then be spent by moving them to your 'Cashpot' and converted into an Asda voucher, which can be scanned at the checkout on your mobile. 

The app also has other ways you can earn rewards. For example, shoppers can earn Asda Pounds by scanning items, buying star products and completing ‘missions’ - such as buying a certain number of items from one department. 

Are there any limitations?

You can only earn cashback on certain types of purchases, including food, drink, George clothing, fuel, and other services such as Asda tyres and Asda Opticians in store. 

You can’t earn rewards on things like travel money, cash, cash advances, or cash alternatives such as cryptocurrency. 

The good news is that you can have additional card holders, who can also earn Asda Pounds - maximising your potential for earning rewards. 

Any Asda Pounds which have not been added to your Cashpot will expire if you don’t use your credit card for 12 months. 

How does the Asda Money credit card compare?

There are a number of other credit cards which reward you with points or cashback when shopping at your favourite supermarket. 

We’ve rounded them up below and ordered them alphabetically.

Credit card What rewards can you earn? Other perks? Representative APR
Asda Money Credit Card 1% cashback in Asda which can be converted into Asda vouchers. Earn extra Asda Pounds using the Asda Rewards app. 22.9% variable
John Lewis/Waitrose Partnership Card* Five points for every £4 spent in John Lewis or Waitrose online and in store. One point for every £4 spent elsewhere. 500 points converts to a £5 voucher for John Lewis or Waitrose. Interest-free spending for six months. 21.9% variable
M&S Shopping Plus Credit Card One point for every £1 you spend in M&S and one point for every £5 you spend elsewhere. 100 reward points converts to £1 in M&S vouchers. Interest-free spending for up to 21 months, and up to 18 months 0% on balance transfers (with a 2.9% balance transfer fee). 23.9% variable
Sainsbury's Bank Nectar Credit Card Earn up to three points per £2 spent at Sainsbury's, Argos, Habitat and Tu Clothing. One point for every £5 spent elsewhere. 8,000 bonus points if you use the card to spend over £400 at eligible stores during the first two months of opening the account. Points can be spent with participating retailers. Interest-free spending for up to six months and 0% interest on balance transfers for up to six months (with a 3% balance transfer fee). 20.9% variable
Tesco Bank All Round Credit Card Five Clubcard points for every £4 spent in Tesco and on Tesco fuel (excluding Esso). One Clubcard point for every £8 spent elsewhere. Clubcard points are turned into Clubcard vouchers every three months, to be spent with Tesco and/or reward partners. The card also comes with 0% APR on purchases, balance transfer (1.99% fee), and money transfers (3.99% fee) for up to 12 months from account opening. 22.9% variable

Information correct as of 15/12/22.

All these cards have no annual fee and offer rewards, however some also offer 0% on purchases and balance transfers for a limited time. 

The best card for you will depend on where you shop the most.

If you're looking for a credit card specifically for a balance transfer, 0% interest on purchases, or a money transfer, other providers may be able to offer longer interest-free periods.

Tips for picking a credit card 

We’ve rounded up some tips on how to pick the most suitable credit card for you. 

What’s the main purpose of the card?

Do you need it to reduce debt? Are you planning on making a big purchase and want to spread the cost across a few months? Or are you going on holiday and need it to spend abroad?

We've set out some motivations behind getting a new card in our guide to the different credit card types. 

Consider alternative cashback cards

If you’re tempted by the Asda Money credit card, but would prefer to be rewarded in cash, consider a cashback credit card.

The American Express Platinum Everyday Credit Card has no annual fee, and a representative APR of 27.2%.

It offers 5% cashback for the first three months, capped at £100. After that, you earn 0.5% cashback on spending up to £10,000, and 1% on spending above £10,000. You must spend a minimum of £3,000 a year to qualify for cashback.

Alternatively, both Lloyds Bank and Halifax offer a fee-free cashback credit card that offers up to 0.5% on purchases - plus a £20 bonus if you spend £1,000 in the first three months.  

Check our reviews and recommended providers

If you’re looking to take out your first credit card, or want to switch, you can check out our best and worst credit card providers to see which brands are Which? Recommended Providers.

You can also have a look at our credit card company reviews for more detail on how customers rated brands for their services.

This story was first published 23 July. It was updated on 16 December, with details on its £20 cashback offer.



source https://www.which.co.uk/news/article/asda-money-reward-credit-card-offer-new-customers-20-cashback-should-you-sign-up-aBqfE3v9aof3
Post a Comment (0)
Previous Post Next Post