Who says you can’t earn rewards while building your credit rating? Not Asda…
As a “credit builder”, this card is designed for customers with a less than perfect credit record, or simply not much in the way of credit history. But unusually for a credit builder, the ASDA Money Cashback Start Credit Card Mastercard comes with rewards. You’ll be able to earn cashback wherever you use the card, and you’ll earn at higher rate when you use it at Asda.
With no annual fee and a manageable, low credit limit, provided any balance is cleared in full each month, this card would be a smart idea for those with limited or less than perfect credit histories.
Just bear in mind that although this card is billed as a “cashback” credit card, the rewards are paid as vouchers to be redeemed at Asda.
|Issuer||Creation Financial Services|
|Incentive||Earn Asda vouchers every time you shop - 1% cashback on all Asda spend, 0.2% on all other transactions. Once £2.5 is earnt a voucher can be downloaded to spend in Asda stores.|
|Additional Rewards Info||No fees when card is used to buy foreign currency from ASDA Travel Money. 6 months 0% interest on purchases of £200 or more at George.com.|
|Purchases interest-free period (days)||50|
|Balance transfer fee||3% (min. £3)|
|Foreign usage charge (EU)||2.99%|
|Foreign usage charge (rest of world)||2.99%|
|Cash advance fee||3% (min. £5)|
|Late payment fee||£12|
|Duplicate statement fee||£3|
|Exceeding limit fee||£12|
|Additional card fee||£0|
|Availability||Available to new customers|
How does this card compare with other credit builder cards?
When it comes to repayments, you can make manual repayments online or over the phone (0371 704 3369), or alternatively set up a direct debit. A direct debit is a great idea because it protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee or losing any promotional rates as a result. You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.
Choose from the following direct debit options for your monthly repayments:
|Minimum amount||Fixed amount||Fixed percentage||Full amount|
How to apply for the ASDA Money Cashback Start Credit Card Mastercard
If you’ve been won over by this rewarding card and want to apply, just click on the “Go to Site” button and you’ll be taken to a secure application form. This takes about 15 minutes to complete. Before you apply, check that you meet the eligibility requirements and have the information and documents you’ll need to make the process as straightforward as possible.