Abbey offers 5% cash back on card : Credit Card Guide

Abbey offers 5% cash back on card

The Abbey has launched a challenge to the other major high street banks in the UK by offering a massive 5% cash back on its credit card for the first £1000 spent in any major UK supermarket.

Cash back credit cards have become very popular in the UK over recent year, and typically offer between 0.5% and 1% cash back on purchases. However, with the new card Abbey customers will be able to enjoy receiving a tidy sum in cash back when they use the card to make purchases in major supermarkets in the UK.

The card deal will be available to both existing and new credit card customers with Abbey, and will be available from now until the end of January 2008. In addition to earning 5% cash back on supermarket purchases up to the first £1000 customers will also be able to enjoy three months interest free credit on purchases and twelve months interest free credit on balance transfers. It is likely that this deal will attract a lot of new custom for Abbey according to many experts.

It is estimated that the average household spends nearly £200 per month on supermarket shopping, and therefore for most customers the offer means that they can earn the massive cash back levels for five months. One industry official stated: 'Almost all of us will be spending £1,000 at supermarkets between now and the end of January, so an extra £50 will come in very handy. Abbey says this is the first of many credit card offers, so I look forward to seeing what it comes up with for the start of February.'

Another industry official stated: 'If, as it has promised it will, Abbey consistently delivers deals that appeal to the mass market then the card could well build up a reputation as a good one to opt for if you're looking for cashback.'

Tom Smith
20th September 2007

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