How to Apply for your Asda Money Credit Card
The Asda Money Credit Card offers a practical solution for frequent Asda shoppers looking to earn rewards on their everyday spending. With no annual fee, the card provides cashback on purchases, helping cardholders save on groceries, fuel, and other essentials at Asda stores and beyond.
Users can earn 0.75% back on purchases made at Asda and 0.2% on purchases elsewhere.
In addition to the cashback rewards, the card offers £30 Asda Pounds when you spend £50 and set up a Direct Debit in your first 60 days.
It also comes with a variable APR starting from 27.9%, and the Assumed credit limit is £1,200.
Benefits of the Asda Money Credit Card
The Asda Money Credit Card offers several benefits designed to make everyday shopping more rewarding, especially for regular Asda customers.
With its cashback rewards and lack of annual fees, the card provides a simple and effective way to earn Asda Pounds, which can be redeemed on future purchases.
Below are some of the key benefits of this card:
Cashback on Asda Purchases
One of the primary benefits of the Asda Money Credit Card is the 0.75% cashback on every purchase made at Asda. Whether you’re shopping for groceries, fuel, or clothing, this cashback is returned to you in the form of Asda Pounds, which can be used towards future spending at Asda.
Earn on Non-Asda Purchases
The card also rewards users for purchases made outside of Asda, with 0.2% cashback on all other transactions.
This means that whether you’re dining out or shopping at another retailer, you can still accumulate Asda Pounds for your spending.
No Annual Fee
There is no annual fee associated with the Asda Money Credit Card, making it a cost-effective option for frequent shoppers.
This feature allows users to enjoy the card’s benefits without worrying about an additional yearly charge, making it easier to manage finances.
Asda Rewards Integration
The Asda Money Credit Card works seamlessly with the Asda Rewards program, which includes special offers such as Star Products and Missions.
These promotions enable cardholders to earn additional Asda Pounds by purchasing select items or meeting specific spending goals, further boosting rewards.
Prerequisites to Obtain the Asda Money Credit Card
To apply for the Asda Money Credit Card, applicants must meet a set of straightforward eligibility criteria.
These requirements help ensure that individuals applying for the card are financially capable of managing credit responsibly.
Basic Requirements:
- Age and Residency: Applicants must be at least 18 years old and permanent residents of the United Kingdom.
- Credit History: While a strong credit score is favorable, those with a history of bankruptcies, County Court Judgments (CCJs), or Individual Voluntary Arrangements (IVAs) are less likely to be approved.
- Income and Financial Commitments: The application process may require details about income, employment status, and any existing financial commitments.
- Bank Account: Applicants must have a UK-based bank or building society account to manage repayments.
Additional Information
Before applying, Asda offers a soft eligibility check. This allows potential applicants to see if they are likely to be accepted without impacting their credit score.
If approved, Asda will provide an estimate of the credit limit and interest rate that may be offered.
These prerequisites are in place to ensure responsible lending and protect both the applicant and the lender from future financial difficulties. If the eligibility criteria are met, applicants can easily apply online and receive a decision quickly.
About Asda as a Financial Institution
The Asda Money Credit Card is issued by Jaja Finance Ltd, a UK-based fintech company specializing in digital credit solutions.
Established with a focus on simplicity, functionality, and security, Jaja has positioned itself as a modern financial services provider that blends innovative technology with traditional retail finance expertise.
The company is regulated by the Financial Conduct Authority (FCA), ensuring that it adheres to strict financial guidelines.
Jaja Finance began operations in 2019 and quickly expanded its services by taking over credit card portfolios from the Bank of Ireland and AA Credit Cards.
In 2022, Jaja entered into a partnership with Asda to provide digital reward-led credit cards to the supermarket’s customers, enhancing the value Asda shoppers can receive from their everyday purchases.
Backed by significant investments, Jaja has ambitious plans to become one of the UK’s leading digital lenders by 2025.
Asda itself is a well-established retailer, founded in the 1960s, and is the UK’s third-largest supermarket chain. Through its collaboration with Jaja, Asda offers its customers added benefits through its financial products.
Who is the Asda Money Credit Card for?
The Asda Money Credit Card is best suited for regular Asda shoppers who want to maximize their rewards while making everyday purchases.
This card is aimed at individuals looking for a straightforward cashback option without annual fees.
Frequent users of Asda’s services, such as groceries, fuel, and George clothing, will benefit most, as the card offers 0.75% cashback on Asda purchases.
Additionally, it caters to customers who prefer a no-fuss rewards system, with cashback earned in the form of Asda Pounds to be spent in-store or online. The card is also useful for those who make non-Asda purchases, offering 0.2% cashback on other spending.
Step by Step to Apply for the Card
To apply for the Asda Money Credit Card, follow these simple steps:
- Check Your Eligibility: Start by using the Asda Money eligibility checker to see if you’re likely to be approved. This is a soft check and won’t impact your credit score. You can access the eligibility checker on the Asda Money Credit Card page.
- Complete the Application: If you’re eligible, proceed by filling out the online application form. You’ll need to provide personal details such as your income, address history for the past three years, and information on any financial commitments.
- Soft and Hard Credit Checks: After submitting your details, a soft credit check will be performed. If approved, you’ll need to agree to a hard credit check, which will affect your credit score.
- Review and Submit: Once you’ve passed the checks, you’ll be asked to review important terms and conditions before completing the application.
- Receive Your Card: Upon approval, your Asda Money Credit Card will be sent to your address.
Asda Money Credit Card Pros and Cons
The Asda Money Credit Card offers both advantages and disadvantages for cardholders, particularly for regular Asda shoppers.
Here’s a closer look at the pros and cons of this card:
Pros
- Cashback at Asda: You can earn 0.75% cashback on all purchases made at Asda, including groceries, fuel, and clothing. This cashback is credited as Asda Pounds, which can be redeemed through the Asda Rewards app.
- No Annual Fee: The card has no annual fee, making it a low-cost option for those who want to accumulate cashback without incurring extra charges.
- Welcome Bonus: Asda offers a welcome bonus of £30 Asda Pounds when you spend £50 and set up a Direct Debit in your first 60 days.
Cons
- Low Cashback for Non-Asda Spending: Cashback on non-Asda purchases is only 0.2%, which is relatively low compared to other cashback cards on the market.
- High APR: The representative APR is 27.9% (variable), which can make the card costly if you carry a balance and don’t pay off the full amount each month.
Fees and Tariffs
The Asda Money Credit Card comes with the following fees and tariffs:
- Annual Fee: There is no annual fee, meaning cardholders won’t incur ongoing costs for simply having the card.
- Interest Rate: The representative APR for most customers is 27.9% (variable)
- Cash Withdrawal Fees: If you withdraw cash or make cash-like transactions (such as gambling or foreign currency purchases), a 3% handling fee applies (minimum £3), and the interest rate on this balance is 39.9%.
- Foreign Transaction Fees: For any non-sterling transactions, a 2.99% fee is applied. This makes using the card abroad more expensive.
- Late Payment Fee: If you miss a payment, a late fee of £12 will be charged.
Customer Service
To seek assistance for the Asda Money Credit Card, here are the main official contact channels:
- Phone: Call 0808 175 4600, between 9 am – 5 pm, Monday to Friday.
- Asda Money Credit Card Website