Asda Money Credit Card review

The Asda Money Credit Card is issued on the Visa network (used by a whopping 4.2 billion cards), so you'll be able to use it at more than 100 million merchant locations across more than 200 countries and territories.

What is Asda Money?

As one of the largest supermarket chains in the UK, Asda is a household name when it comes to your weekly shop, but its credit products probably are not the first to come to mind when you’re considering a new credit card.

Asda Money is the trading name of Asda’s financial services, which includes insurance, credit cards, loans and travel money.

Features of the Asda Money Credit Card

Asda’s new credit card is provided by Jaja Finance, a UK-based credit card provider regulated by the Financial Conduct Authority (FCA). Issued on the Visa network, the Asda Money Credit Card is accepted in over 200 countries and territories worldwide.

• App. With the Asda Money Credit Card app, you can manage your account, set up your direct debit and monitor your spending.
• Rewards. With the Asda Rewards app, you can transfer your rewards to your “Cashpot”, where you can redeem your money-off voucher.
• Visa credit card. Issued on the Visa network, the Asda Money Credit Card can be accepted in over 200 countries and territories worldwide.

How do Asda Pounds work?

Similar to cashback, every time you make an eligible purchase on your credit card, you will get rewarded through Asda’s loyalty programme – Asda Rewards.

Once you have started to earn Asda Pounds, you can start spending them by transferring them to your “Cashpot” and converting it into an Asda voucher that can be redeemed at the checkout. Bear in mind that you are limited to spending your cashback at Asda stores, which can be great if you want to save some money on your weekly shop.

To access your Asda Pounds, you’ll need to download the free Asda Rewards app and link it with your credit card.

To make the most out of your credit card, you will need to spend responsibly and make sure you repay your debts in full and in a timely manner.

How does it compare?

Asda Money's card

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Product UKCCF	Finder Score	Max. intro bonus	Earn-rate with brand	Default earn-rate	Annual/monthly fees	Representative APR	Link	Incentive	Representative example
Asda Money Credit Card	Finder score 8.1Great	£20	1% cashback	0.3% cashback	£0	27.9% APR (variable)	Read review Compare	Earn 0.75% back in Asda Pounds when shopping at Asda, earn 0.2% on non-Asda spend. 1 Asda Pound = £1 (min £1).	Representative example: When you spend £1,200 at a purchase rate of 27.9% (variable) p.a., your representative rate is 27.9% APR (variable).	loading Fetching your data...

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Finder Score for credit cards

To make comparing even easier we came up with the Finder Score. Costs, perks and suitability across 120+ cards are all weighted and scaled to produce a score out of 10. The higher the score the better the card – simple.

Read the full methodology

Other popular reward cards

Table: sorted by representative APR, promoted deals first

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Product UKCCF	Finder Score	Max. intro bonus	Earn-rate with brand	Default earn-rate	Annual/monthly fees	Representative APR	Link	Incentive	Representative example
M&S Bank Credit Card Transfer Plus Offer Mastercard	Finder score 8.6Great	N/A	1 point per £1 spent	1 point per £5 spent	£0	24.9% APR (variable)	Check eligibility Read review Compare	1 point per £1 spent with M&S and 1 point per £5 spent elsewhere. Enjoy 55 days interest free, preferential rates plus no cash advance fee when buying M&S travel money with the card.	Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).	loading Fetching your data...
M&S Bank Credit Card Purchase Plus Offer Mastercard	Finder score 8.6Great	N/A	1 point per £1 spent	1 point per £1 spent	£0	24.9% APR (variable)	Check eligibility Read review Compare	1 point per £1 spent with M&S and 1 point per £5 spent elsewhere. Enjoy 55 days interest free, preferential rates plus no cash advance fee when buying M&S travel money with the card.	Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).	loading Fetching your data...
John Lewis Partnership Credit Card	Finder score 8.2Great	N/A	1.25 points per £1 spent	1 point per £4 spent	£0	28.9% APR (variable)	Check eligibility Read review Compare	Earn 2.5% back as points towards gift vouchers on eligible spend at John Lewis and Waitrose in the first 60 days from account opening. Earn 5 points for every £4 spent on eligible purchases at John Lewis and Waitrose and 1 point for every £4 spent elsewhere. 1 point = 1p (min 500pts)	Representative example: When you spend £1,200 at a purchase rate of 28.94% (variable) p.a., your representative rate is 28.9% APR (variable).	loading Fetching your data...
American Express® Rewards Credit Card Finder Award	Finder score 8.2Great	10,000 points	1 point per £1 spent	1 point per £1 spent	£0	30.7% APR (variable)	Check eligibility Read review Compare	Earn 1 Membership Rewards® point for every £1 spent thereafter. Earn up to 90,000 bonus points per year through refer a friend, 4,000 points awarded for every friend approved. 1 point = 0.45p (min 1,000 points) to shop, other rewards have differing conversions.	Representative example: When you spend £1,200 at a purchase rate of 30.7% (variable) p.a., your representative rate is 30.7% APR (variable).	loading Fetching your data...

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Finder Score for credit cards

To make comparing even easier we came up with the Finder Score. Costs, perks and suitability across 120+ cards are all weighted and scaled to produce a score out of 10. The higher the score the better the card – simple.

Read the full methodology

Approval for any credit card depends on your status. The representative APRs shown represent the interest rate offered to most successful applicants. Depending on your personal circumstances, the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow. Most of the data in Finder's comparison tables is provided by Moneyfacts.

Repayment options

You can make manual repayments through Asda Money's app by logging in to your online banking or over the phone (0800 783 5881). Alternatively, you may wish to set up a direct debit.

A direct debit protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee (£12) or losing any promotional rates as a result.

You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.

Choose from the following direct debit options for your monthly repayments:

How to apply for the Asda Money Credit Card

If you've compared cards and settled on the Asda Money Credit Card, completing the secure online application form takes about 15 minutes. Before you apply, check that you meet the eligibility requirements and have the information and documents you'll need to make the process as straightforward as possible.

Bottom line

The new Asda Money Credit Card is a great option for frequent Asda shoppers, offering cashback on your everyday spending both with the brand and elsewhere; given that you’re okay with spending your rewards via money-off vouchers at Asda. With fairly average representative interest rates and no annual fee, this credit card could be a good supermarket companion – as long as you repay your debts in full.

Frequently asked questions

• Is the Asda Money Credit Card a physical card?

  Yes, if approved, you will recieve a physical credit card in the post and access to the virtual card on the Asda Money app.

• What credit limit will I get with the Asda Money Credit Card?

  If Asda Money is able to offer you this deal, the offer will specify a personalised credit limit based on Asda Money’s assessment of your situation. The minimum limit offered on the card is £250, while the maximum is £5,000. Once you’ve had the card for a while and shown Asda Money that you’re reliable, you may wish to apply for a credit limit increase.

• Can I withdraw cash using the Asda Money Credit Card?

  Although it’s possible, withdrawing cash from a credit card account is generally not a good idea, as “cash-like transactions” (such as withdrawing cash at an ATM, getting cashback at the till, spending at a casino or buying currency) often incur steep fees and/or higher rates of interest.

  The cash advance fee on the Asda Money Credit Card is 3% (min. £3).

  The interest rate on this part of your balance will be 39.9%, which is 52% more than the standard purchase rate (chargeable from the day of the transaction – the card’s usual “up to 56 days interest-free” grace period won’t apply).

• How much does it cost to use the Asda Money Credit Card abroad?

  Non-sterling transactions are subject to a charge (which is very standard). For example, if you spend 200 euros (£173.36), it’ll cost you around £5.18 in fees.