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Asda launches cashback credit card paying 2% on supermarket shopping.

BANKING AND CREDIT NEWS-August 23, 2016-Asda launches cashback credit card paying 2% on supermarket shopping

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A new cashback credit card from supermarket group Asda pays 2% on Asda spending and 1% on spend elsewhere in the UK. Customers buying Asda insurance products will earn 10% cashback, it was reported on Tuesday.

The launch comes at a time when several other providers are scaling back or scrapping similar credit card offers.

Cardholders have to pay a GBP3 monthly fee, but there is no cap on earnings and reports say the benefits could beat rival cards for customers who regularly shop at Asda.

The supermarket is also offering 0% on balance transfers for 15 months.

To spend the cashback, it has to be converted into a voucher which can be used in store.

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Publication:M2 Banking & Credit News (BCN)
Date:Aug 23, 2016
Words:150
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