Asda Money launches £20 bonus on reward credit cards – should you get one?

Asda Money is offering new customers a bonus of £20 when they sign up for one of its cashback credit cards by 5 December.

The offer applies to the Asda Money Credit Card and Asda Money Select Credit Card. New customers will qualify if they spend £50 and set up a Direct Debit within the first 60 days of opening the account.

Here, Which? takes a closer look at the new offer and how the Asda Money credit cards compare to other reward credit cards on the market.

What do the Asda Money credit cards offer?

Asda Money's range of reward credit cards is powered by Jaja Finance.

The Asda Money Credit Card offers 1% cashback in Asda Pounds when you use it to buy groceries, fuel and other Asda services including travel insurance, and 0.3% cashback on purchases made elsewhere. The card has a representative APR of 25.9% (variable) and no annual fee. Credit is subject to status and terms apply. 

The Asda Money Select Credit Card is a credit builder card that offers the same benefits as the mainstream card but with a much higher representative APR of 34.9% (variable). This card is more suited to shoppers with a poor credit score, who might find it more difficult to be accepted for other credit cards.

• Find out more:  best credit card deals October 2023

How to get the £20 bonus

To get the £20 bonus, you must sign up by 5 December. Then within 60 days of opening the account, you must spend £50 on the card and set up a Direct Debit to pay your bill each month. This can be the minimum payment, full balance or a fixed amount. 

Cash advances or balance transfers will not be considered as qualifying purchases. 

You'll get your £20 within 90 days of opening your account and you can find your Asda Pounds balance in your Asda Money Credit Card app.

The offer is not available to existing Asda Money or Asda Money Select credit cardholders or if you have held an Asda Money Credit Card or Select Credit Card within the past 12 months.

How to use Asda rewards

Shoppers will be rewarded through Asda’s loyalty programme, Asda Rewards.

To get the cashback you've earned, you’ll need to download the free Asda Rewards app and link it to your credit card. 

You can then spend your Asda Pounds by moving them to your Cashpot, where you can convert them into an Asda voucher. 

Vouchers can be scanned at the checkout on your mobile. 

The app also has other ways you can earn rewards. For example, shoppers can earn Asda Pounds by scanning items, buying star products and completing ‘missions’ – such as buying a certain number of items from one department.

• Find out more: loyalty cards compared 

How does the Asda Money Credit Card compare?

Asda Money isn’t the only supermarket to have a reward credit card that allows you to earn reward points or cashback. However, the best card for you will often depend on where you shop the most. 

We’ve analysed the top deals in our guide to the best cashback and reward credit cards , and worked out how much you’d earn if you spent £100 a week in the participating store on your weekly shop.

You can consistently earn the most with the American Express Nectar Credit Card, which gives you three Nectar points for every £1 spent at Sainsbury’s and its partners – earning £77.50 in a year (when converting the points back into monetary value). 

The John Lewis Partnership Credit Card and the Tesco Bank Low APR Credit Card come joint second in our table, earning you £65 in their respective loyalty schemes after a year. 

The John Lewis Partnership Card allows you to earn five points for every £4 spent at John Lewis and Waitrose. Similarly, any Tesco credit card lets you earn five Clubcard points for every £4 spent at Tesco. 

However, if you include introductory offers you could earn £95 with the John Lewis card, as new customers can get triple points for the first three months. 

Using the Asda Money Credit Card, you could earn £52 in a year when doing your weekly shop at Asda in-store or online. If we take the new introductory offer into account, this boosts your cashback in one year to £72 when spending £100 a week in-store.

• Find out more: best cashback and reward credit cards 

Is Asda Money a good provider?

Which? surveyed thousands of credit card customers in April 2023 to find out how satisfied they were with their providers.

We also asked them to rate the companies across a range of customer satisfaction categories, from the application process right through to the service they receive when using their card.

Asda Money got a customer score of 65% – the third-lowest of 29 providers. However, customers gave it four stars out of five for the application process, transparency of charges, and ability to manage online or via a mobile app.

• Find out more:best credit card providers

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