Asda Money is to cut the amount of credit card ‘cashback’ you can earn on non-Asda spending by more than half.
The Asda Money credit card is one our top pick cashback credit cards as it gives 1% ‘cashback’ on shopping at Asda (including online and fuel), and 0.5% back everywhere else – but the latter rate will drop to 0.2% on 13 April.
Although we call it a ‘cashback’ card, your reward can only be redeemed as vouchers to spend at Asda.
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Is the card still worth having?
The new cashback rate means the card is probably still worth having if you regularly shop at the superstore as the unchanged 1% rate offered on Asda spending remains generous among retail-based cards.
If you don’t regularly shop at Asda, however, you can earn far more than 0.2% with other cashback credit cards. Those who’ll spend at least £3,000 per year can earn up to 5% cashback for three months with the Amex Platinum Everyday and up to 1% after.
Alternatively, The Aqua Reward (designed for poorer credit scorers) gives 0.5% cashback on all spending, as does the new Tandem credit card. Plus, cashback on these cards comes in the form of account credit.
For full details and information on other retail-based cashback cards, see our guide on Cashback Credit Cards.
What does Asda Money say?
An Asda Money spokesperson said: “Following a recent review of our Asda Money credit card offer, we have made some changes to our cash back offer for purchases made outside Asda.
“Our card continues to offer customers one of the most competitive cash back offers in the market.”