Asda Christmas Savings card

Petey64

Can I please ask your opinion, I have for the last 6 months been saving quite a lot every month on my Asda Christmas savings cards, this seemed a good idea at the time because the bonus you receive equates to around 5%, my intention was to save enough on my cards so that I wouldn't have to worry about grocery expense in 2021, now with the corona virus and the worrying financial status of the country I'm worried, the major supermarkets will be enjoying record sales at the moment but if there were to be food shortages even the largest supermarkets may suffer, we have seen large retailers disappear from the high street over recent years. Basically, I can carry on struggling to save on the Asda cards (I am on an extremely tight budget because I can't work due to ill health) but in your opinion is it advisable because the funds are not protected by the FSCS?
Thank you!

Farway

Just my opinion but if the likes of Asda go bust there will be worse thing to worry about at that point. Asda has the deep pockets of Walmart behind them which is not a guarantee but it does help

However if it is going to give you sleepless nights I'd stop paying in and try to put some by in a savings account, or if suiting your planned Christmas,& convenient, use the Iceland Bonus card as well, every £20 they add £ 1 = 5%. Plus it is not limited by having to be redeemed at Christmas, it can be used for normal everyday shopping

I use the Iceland bonus card, plus when I add the £20 I use my cashback credit card to pay for that, not much but it all adds up