By: Harvey Jones | Updated: 5th February, 2019
Asda is the UK's third largest supermarket chain – only Tesco and Sainsbury's are bigger. More than 18 million people shop in its stores every week, and if you are one of them, you should consider adding this card to your collection of plastic.
On Asda Money's Secure Website
|Standard purchases||19.9% p.a. variable|
|Representative||19.9% APR variable|
|Based on assumed credit limit||£1,200|
Calling all Asda shoppers! If you haven’t already have taken out its cashback card, you should definitely consider popping this into your trolley. In today’s market, unlimited 1% cashback on your everyday essentials is pretty good, especially since it applies to Asda fuel too.
I’ve been a personal financial journalist for 30 years, writing for national newspapers, magazines and websites. I reported on the technology boom in the 1990s, and the subsequent bust. I covered the financial crisis, and the tentative recovery. Decades of writing about the big banks has taught me to be sceptical, to examine every pledge and promise, and look closely at the small print of their product offerings. I’m on the side of the consumer, alert to rip-offs while also keen to highlight top deals. There are plenty out there, if you know where to look.
The headline Asda cashback offer is good but I do have a few minor quibbles.
The cashback market was hit by EU rules in 2015 capping the fees retailers pay to process card transactions. These days, most cashback cards pay between 0.25% and 0.5%, with limits on your spending. The Asda Cashback Credit Card gives you 1% on unlimited spending, including fuel, at all of its outlets. In today’s market, that makes it a real leader.
When applying for a credit card, the issuer will check your credit rating with one of the big reference agencies such as Experian or Equifax. This will show a history of your borrowings for the last six years, and highlight any problem such as missed payments, bankruptcy or County Court Judgements (CCJs) against your name. Asda offers a two-minute eligibility checker on line. I tried this, dropping in one or two non-standard bits of information, notably a net income of just £1,000 a month, and was politely informed that I was not eligible. This tells me you need to be squeaky clean to get this card.
You will need a UK bank or building society account and a regular income through full or part-time employment, although students and retired people can also apply. Also a clean credit history, with no CCJs, bankruptcies or individual voluntary arrangements (IVAs).
You will need your email address, mobile and home phone, residential address, employment status, net monthly personal income, and any partner’s income. You will need your address details for the last three years, your bank or building society details, employer’s name, the details of your other credit or store cards if you have any, and pen and paper to write down your application reference number. You should get an instant decision and the whole application process should take just 10 minutes or so online.
There is a simple test that will determine whether this card is right for you. Do you shop at Asda regularly? If the answer is yes, then this card could be a very good choice. You could always use another cashback or rewards card for your non-Asda shopping. However, if you rarely shop at Asda there are other cards that will provide you better benefits.
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