We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

ASDA Money cashback credit card rate drop

Options
12346»

Comments

  • WillPS
    WillPS Posts: 5,147 Forumite
    Part of the Furniture 1,000 Posts Newshound! Name Dropper
    Yep £1,200 is Aqua's max initial limit across any card (Apart from Aqua Start which is £100-£300), but if you have a decent credit record it'd promptly go up (even my limit is just under 2k and mine's trashed)

    Asda have updated their terms:



    Anyone with the Asda Start or the Cashback Plus (monthly fee) card, could try applying for the normal Asda Cashback card - you'll then (if accepted) get 3 months.

    Obviously slightly hit to the credit file of a new account and new search though, so don't try this if you've got any big apps coming in the next 6 months or so.

    Unsurprisingly, I'm not eligible :rotfl:
    Very poor that they still haven't updated the brochure site, or the cashback calculators (which give an impossible annual cashback amount) to show this.
  • sharsky53
    sharsky53 Posts: 18 Forumite
    Tenth Anniversary 10 Posts Combo Breaker
    I think they are taking away what they started giving and promoted, that's why most people chose this card. Reducing the benefits to card holders whilst maintaining the £3 monthly fee can only increase the benefits to the card provider. Greed or not, it's a way to boost their profits. Never heard of a credit card company going under.
  • eskbanker
    eskbanker Posts: 37,189 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    sharsky53 wrote: »
    I think they are taking away what they started giving and promoted, that's why most people chose this card. Reducing the benefits to card holders whilst maintaining the £3 monthly fee can only increase the benefits to the card provider. Greed or not, it's a way to boost their profits. Never heard of a credit card company going under.
    You're only looking at one side of the equation though, in assuming that their profits are increasing - as discussed regularly on here there are revenue reductions from regulatory pressures such as the likes of the interchange cap and the prohibition of surcharging, so it's unsurprising that they have to reconsider how much they can rebate via cashback schemes, which is why those offerings that survive at all have lower rates than they used to....
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244K Work, Benefits & Business
  • 599K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.