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.
Asda Money Credit Card review
- Representative example:
- Representative 29.9% APR variable. Based on assumed borrowing of £1,200. Rate of interest 29.9% p.a. (variable).
- Account fee
- £0
- Interest-free each billing period
- Up to 56 days
- Minimum credit limit
- £250
Our verdict
After a short hiatus, Asda Money has launched its new rewards credit card with Jaja Finance.Asda Money recently rolled back its range of credit products to launch this brand new rewards credit card with Jaja Finance.
Asda Money'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
-
No annual fee
-
Earn points on everyday spending
-
Up to £20 Asda Pounds introductory bonus
Cons
-
You may be offered an opening credit limit as low as £250
Details
Product Overview
| Issuer | Jaja Finance Ltd |
| Network | Visa |
| Representative APR | 29.9% |
| Annual/monthly fees | £0 |
| Balance transfers | 27.9% |
| Purchases | 27.9% |
| Purchases interest-free period | Up to 56 days |
| Cash advances | 39.9% |
| Minimum credit limit | £250 |
| Maximum credit limit | Subject to status: £5,000 |
| Introductory Rewards | Earn £20 Asda Pounds when £50 spent and direct debit set up in first 60 days. |
| Incentive | Earn 0.75% back in Asda Pounds when shopping at Asda, earn 0.2% on non-Asda spend. 1 Asda Pound = £1 (min £1). |
| Potential costs | 8.4Great |
| Extras | 5.7Standard |
| Overall Finder Score | 6.1Standard |
Fees and charges
| Minimum monthly payment | Greater of: 2.2% of the underlying balance plus the month's interest and any applicable fees and charges; £5; or the outstanding balance. |
| Annual/monthly fees | £0 |
| Foreign usage charge (EU) | 2.99% |
| Foreign usage charge (rest of world) | 2.99% |
| Cash advance fee | 3 |
| Late payment fee | 12 |
| Replacement card fee | £0 |
| Duplicate statement fee | £5 |
| Exceeding limit fee | £0 |
| Additional card fee | £0 |
| Dormancy fee | £0 |
Application Requirements
| Minimum Age | 18 |
| Minimum income | £0 |
| Availability | Available to new customers |
The Asda Money Credit Card is issued on the Visa network (used by a whopping 4.2 billion cards), so you'll be able to use it at more than 100 million merchant locations across more than 200 countries and territories.
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. 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
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Finder Score for credit cards
To make comparing even easier we came up with the Finder Score. Costs, perks and suitability across 120+ cards are all weighted and scaled to produce a score out of 10. The higher the score the better the card – simple.
Read the full methodologyOther popular reward cards
Table: sorted by representative APR, promoted deals first
Finder Score for credit cards
To make comparing even easier we came up with the Finder Score. Costs, perks and suitability across 120+ cards are all weighted and scaled to produce a score out of 10. The higher the score the better the card – simple.
Read the full methodologyApproval for any credit card depends 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. Most of the data in Finder's comparison tables is provided by Defaqto.
Repayment options
You can make manual repayments through Asda Money's app by logging in to your online banking or over the phone (0800 783 5881). 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.
Bottom line
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
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables is provided by Defaqto. In other cases, Finder has sourced data directly from providers.
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