Asda Money Credit Card review 2022

After a short hiatus, Asda Money has launched its new rewards credit card with Jaja Finance.

Offering competitive rates and the chance to collect “Asda Pounds” every time you shop, Asda Money’s new Visa credit card could be your go-to supermarket loyalty card if you’re an avid Asda shopper.

  • No annual fee
  • Cashback is rewarded in “Asda Pounds”, which can be converted to vouchers limited to spending in Asda stores
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Representative example: When you spend £1,200 at a purchase rate of 22.9% (variable) p.a., your representative rate is 22.9% APR (variable).

Earn 1p

per £3.33 spent

22.9%

Representative APR

£0

Account fee

Up to 56 days

Interest-free each billing period

Details

IssuerJaja Finance
NetworkVisa
Annual/monthly fees£0
Balance transfers22.9%
Balance transfer feeSubject to status
Purchases22.9%
Purchases interest-free periodUp to 56 days
Cash advances34.9%
Minimum credit limit£250
Maximum credit limitSubject to status: £5,000
Incentive
Earn 1% back in Asda Pounds when you spend with Asda and 0.3% when you spend elsewhere.
Potential costs★★★★★
Doing its job★★★★★
Extras★★★★★
Overall Finder rating★★★★★

Review by


Emily Herring is a Publishing Executive at Finder specialising in credit-based products including credit cards and business and personal loans. Emily has a Masters in Creative Writing & Publishing and a Bachelor of Arts in Communication & Media.

Expert review

Asda Money has rolled back its range of credit products to launch a brand new rewards credit card with Jaja Finance.

Asda’s Visa credit card comes with fairly average representative rates and does have the option to transfer a balance, but you will have to personally request the balance transfer rate and fees. However, on the upside, you won’t have to pay an annual fee to use this credit card.

If you’re an avid Asda shopper, the Asda Money Credit Card could be your go-to supermarket companion with the opportunity to earn Asda Pounds that can be converted into money-off vouchers. Especially with that limited-time welcome offer. However, as a rewards card, you are pretty limited if your go-to shop isn’t Asda and you could make better use of an alternative rewards credit card.

Pros and cons

Pros

  • No annual fee
  • Earn Asda Pounds when you spend
  • Manage your card through the Asda Money Credit Card app
  • Additional cardholders can earn Asda Pounds

Cons

  • Cashback is rewarded in “Asda Pounds”, which can be converted to vouchers limited to spending in Asda stores
  • You can’t use Asda Rewards in all of its stores yet
  • Any cashback not moved into the "Cashpot" will expire after 12 months of inactivity
  • Other credit cards offer higher earn rates when you don’t spend with the brand

What is Asda Money?

As one of the largest supermarket chains in the UK, Asda is a household name when it comes to your weekly shop, but its credit products probably are not the first to come to mind when you’re considering a new credit card.

Asda Money is the trading name of Asda’s financial services, which includes insurance, credit cards, loans and travel money.

Features of the Asda Money Credit Card

Asda’s new credit card is provided by Jaja Finance, a UK-based credit card provider regulated by the Financial Conduct Authority (FCA). Issued on the Visa network, the Asda Money Credit Card is accepted in over 200 countries and territories worldwide.

  • App. With the Asda Money Credit Card app, you can manage your account, set up your direct debit and monitor your spending.
  • Rewards. Earn 1% back in Asda Pounds when you spend with Asda and 0.3% when you spend elsewhere. With the Asda Rewards app, you can transfer your rewards to your “Cashpot”, where you can redeem your money-off voucher.
  • Visa credit card. Issued on the Visa network, the Asda Money Credit Card can be accepted in over 200 countries and territories worldwide.

How do Asda Pounds work?

Similar to cashback, every time you make an eligible purchase on your credit card, you will get rewarded through Asda’s loyalty programme – Asda Rewards.

Once you have started to earn Asda Pounds, you can start spending them by transferring them to your “Cashpot” and converting it into an Asda voucher that can be redeemed at the checkout. Bear in mind that you are limited to spending your cashback at Asda stores, which can be great if you want to save some money on your weekly shop.

To access your Asda Pounds, you’ll need to download the free Asda Rewards app and link it with your credit card.

To make the most out of your credit card, you will need to spend responsibly and make sure you repay your debts in full and in a timely manner.

How does it compare?

Asda Money's card

1 - 1 of 1
Name Product Max. intro bonus Earn-rate with brand Default earn-rate Annual/monthly fees Representative APR Link Incentive Representative example
Asda Money Credit Card
N/A
2% cashback
0.3% cashback
£0
22.9% APR (variable)
Earn 1% back in Asda Pounds when you spend with Asda and 0.3% when you spend elsewhere.
Representative example: When you spend £1,200 at a purchase rate of 22.9% (variable) p.a., your representative rate is 22.9% APR (variable).
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Other popular reward cards

Table: sorted by representative APR, promoted deals first
Name Product Max. intro bonus Earn-rate with brand Default earn-rate Annual/monthly fees Representative APR Link Incentive Representative example
M&S Bank Credit Card Rewards Offer Mastercard
N/A
2 points per £1 spent
1 point per £5 spent
£0
19.9% APR (variable)
Check eligibility
Double points on spend in M&S for first year (2 points per £1). Then 1 point per £1 spent with M&S and 1 point per £5 spent elsewhere. Enjoy 55 days interest free, preferential rates plus no cash advance fee when buying M&S travel money with the card.
Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).
M&S Bank Shopping Plus Credit Card
N/A
1 point per £1 spent
1 point per £5 spent
£0
21.9% APR (variable)
Check eligibility
Earn 1 point for every £1 spent at Marks and Spencer's and 1 point for every £5 spent elsewhere. 100 points = £1 reward voucher. Points will be converted into reward vouchers 4 times a year.
Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a., your representative rate is 21.9% APR (variable).
M&S Bank Credit Card Transfer Plus Offer Mastercard
N/A
1 point per £1 spent
1 point per £5 spent
£0
21.9% APR (variable)
Check eligibility
1 point per £1 spent with M&S and 1 point per £5 spent elsewhere. Enjoy 55 days interest free, preferential rates plus no cash advance fee when buying M&S travel money with the card.
Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a., your representative rate is 21.9% APR (variable).
Santander All in One Credit Card
N/A
0.5% cashback
0.5% cashback
£3 per month
24.7% APR (variable)
Check eligibility
0.5% cashback on all your eligible purchases, paid monthly into card account. Maximum spend for cashback purposes is limited to credit limit. Terms apply.
Representative example: When you spend £1,200 at a purchase rate of 18.9% (variable) p.a. with a fee of £3 per month, your representative rate is 24.7% APR (variable).
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Approval for any credit card will depend on your status. The representative APRs shown represent the interest rate offered to most successful applicants. Depending on your personal circumstances the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow.

Repayment options

You can make manual repayments through Asda Money's app, by logging in to your online banking or over the phone. Alternatively, you may wish to set up a direct debit.

A direct debit protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee (£12) 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 Credit Card

If you've compared cards and settled on the Asda Money Credit Card, completing the secure online application form takes about 15 minutes. 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.

Verdict

The new Asda Money Credit Card is a great option for frequent Asda shoppers, offering cashback on your everyday spending both with the brand and elsewhere; given that you’re okay with spending your rewards via money-off vouchers at Asda. With fairly average representative interest rates and no annual fee, this credit card could be a good supermarket companion – as long as you repay your debts in full.

Frequently asked questions

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