ASDA Money cashback credit card rate drop

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  • J_B
    J_B Posts: 6,443 Forumite
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    roddydogs wrote: »
    Its a pain but where else do you go?
    Birdman2015 wrote: »
    As soon as I saw this post last night I applied for a Tandem card, I was intending getting that card anyway for holiday spending but will now use it for back up to my AMEX card.

    Is Tandem too good to be true or ..........?
  • A4445
    A4445 Posts: 1,103 Forumite
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    This is rubbish! First nationwide cut cashback and no ASDA. I will just me using my Natwest Reward card from now on!
  • Inner_Zone
    Inner_Zone Posts: 2,853 Forumite
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    A4445 wrote: »
    This is rubbish! First nationwide cut cashback and no ASDA. I will just me using my Natwest Reward card from now on!

    So did MNBA, Barclays stopped the Amex cashback card, the list is getting longer.
  • eskbanker
    eskbanker Posts: 31,034 Forumite
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    stevenhp1987 wrote: »
    This will be a result of the new interchange cap (0.3% max fee).

    I'd expect a lot of other card providers to follow suit as they are making a loss on 0.5%
    That interchange cap was introduced in 2015!
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
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    Midland45 wrote: »
    Just received a letter stating the cashback rate for non Asda shop/fuel is dropping from 0.5% to 0.2%. The rate remains 1.0% for Asda spend, these changes are from 13/04/18.

    Oh dear. Well I was considering trying to get my Asda Start upgraded to Plus, not worth it now. At least they're not dropping Asda Fuel (yet).

    Still a pain though, but with my credit I can't complain too much. Got 0.5% Aqua Reward, but they round DOWN to the nearest £5 so it's not really 0.5%.

    Looks like Aqua Reward everywhere else, and ASDA for their shops.

    Out of interest, how does interchange work for them... is it "free" (minus payment processing charges they presumably pay on all card transactions) as it's within the group? If so, the 1% should be sustainable for some time.

    They could use the credit card data for marketing & improving asda money, the targeted offers for the stores etc. That level of data in exchange for 1% discount internally and driving up sales (I wouldn't bother going to ASDA Petrol if it wasn't for the 1%, it's the same price as Morrison's down the road). 0.2% elsewhere, but still pocketing 0.1%.... is a pretty good deal for them IMO!
  • WillPS
    WillPS Posts: 3,469 Forumite
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    Still nothing on their website: https://money.asda.com/credit-cards/cashback-credit-card/

    Pretty terrible customer service to allow people to apply for a card not knowing that the drop is imminent.
  • Former_MSE_Karl
    Former_MSE_Karl Posts: 175 Forumite
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    Hi folks,

    We've written a news story on this.

    You can read it here: Asda credit card rewards to be slashed


    Thanks, :)
    MSE Karl
  • darren72
    darren72 Posts: 1,288 Forumite
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    MSE_Karl wrote: »
    Hi folks,

    We've written a news story on this.

    You can read it here: Asda credit card rewards to be slashed


    Thanks, :)
    MSE Karl

    Your article makes no mention to the 'Plus' card - Are the 2%/1% rates being cut too ?
  • briant2001
    briant2001 Posts: 34 Forumite
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    I've the plus card - anyone heard if the non-ASDA rate is to drop on this - we do most of our shopping at ASDA so definitely worth having for the 2% - we got a card in August last year and had raked up £100 cashback by Christmas
    Welcome to my world - it's strange and dark and scarey!
  • WillPS
    WillPS Posts: 3,469 Forumite
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    MSE_Karl wrote: »
    Hi folks,

    We've written a news story on this.

    You can read it here: Asda credit card rewards to be slashed


    Thanks, :)
    MSE Karl
    Why don't MSE mention the Natwest Reward card? 1% at all supermarkets (including Lidl) and 0.5% everywhere else. £24 annual fee refunded in full with the Natwest Reward current account.

    It's a market leader now.
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