ASDA Money cashback credit card rate drop

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  • WillPS
    WillPS Posts: 3,473 Forumite
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    Somerset_La_La_La wrote: »
    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
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    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: 31,038 Forumite
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    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....
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