ASDA Money Credit Card - Overview, Rates, Benefits and More

Thinking of getting a new credit card? You might want one for everyday spending, or to help you spread the cost of a big purchase.

There are a huge number of credit cards available in the UK, so choosing the right one for you can be difficult. We’re here to help with a guide to a popular choice, especially among regular ASDA shoppers - the ASDA Money Credit Card.

In the guide below, we’ll run through everything you need to know about the ASDA Money Credit Card. This includes key features and rewards, interest rates and fees, eligibility requirements and how to apply.

We’ll also take a look at how the ASDA Money Credit Card works abroad, which could be useful info if you’ve got an overseas holiday coming up.

If you’re looking for a cheaper way to spend outside the UK, check out the Wise debit card. It’s not a credit card, but offers low-cost spending and cash withdrawals in 150+ countries worldwide, with no foreign transaction fees.

But for now, let’s focus on what the ASDA Money Credit Card has to offer.

What is the ASDA Money Credit Card?

The ASDA Money Credit Card is designed for everyday spending, with particularly attractive rewards if you use it to spend at ASDA.

Key features of the card include:¹

• Earn ASDA Rewards in the form of ASDA Pounds when you spend at ASDA and on all other everyday spending too
• Manage your card on the move via the handy ASDA Money Credit Card app
• Contactless payments
• Can be used with mobile wallets such as Apple Pay and Google Pay.

How do ASDA Pounds rewards work?

One of the features that sets the ASDA Money Credit Card apart from other similar cards on the market is its spending rewards.

When you spend using your ASDA credit card, you’ll earn rewards in the form of ASDA Pounds. These can be redeemed to give you money off your weekly shop at the supermarket. So if you shop there a lot already, it’s a pretty attractive offer.

Here’s what you can earn:¹

• 1% in ASDA Pounds for spending at ASDA
• 0.3% in ASDA Pounds for all other spending.

ASDA Money also has a special offer running (as of 18.10.23) where you can get £20 back in ASDA Pounds if you open a new credit card account before 5th December 2023. You’ll need to spend £50 and set up at least one Direct Debit within the first 60 days to get the reward.¹

ASDA Money Credit Card interest rates and fees

Before signing up for any credit card, it’s crucial to check the small print carefully. Credit cards aren’t always free to use, and some can charge high fees and interest rates. This can quickly become very expensive if you aren’t careful.

We’ll run through the fees and interest rates to expect with the ASDA Money Credit Card below.

Annual fee

The great news is that there’s no annual or monthly fee to get the credit card, and no charge for applying.

Interest rates

The ASDA Money Credit Card currently has a representative purchase interest rate of

25.9% APR (variable). This is based on an assumed credit limit of £1,200.²

However, rates can vary from this all the way up to 32.9% APR, with the rate you’re offered based on your individual circumstances. There’s an interest-free period of 56 days on purchases if you pay your balance in full.²

Fees for using the ASDA Money Credit Card

There may be no monthly or annual fees, but this credit card does come with some fees. Here’s a quick look at the main charges you need to know about:²

Type	Fee
Annual/monthly fee	None
Cash fee (e.g. ATM withdrawals or gambling transactions)	3% handling fee
Balance transfers	Fee available when you request a transfer
Overseas transactions	2.99% Non-Sterling Purchase Fee
Late payments	£12
Exceeding your credit limit	£12

Can I use the ASDA Money Credit Card abroad?

You can use your ASDA Money Credit Card when you go on an international holiday or trip, but be careful. It can be expensive.

As you can see from the fees table above, there’s a fee of 2.99% for any purchases made in foreign currency. If you want to withdraw cash from an overseas ATM, you’ll pay a 3% handling fee² and potentially other costs too.

There’s also the exchange rate to consider. ASDA Money uses Visa cards, so exchange rates are set by Visa.² You can view the latest rates at any time here.

Spend worldwide for low fees and great rates with the Wise debit card

If the fees for using a credit card abroad are off putting, consider an alternative solution for spending overseas.

It’s not a credit card, but the Wise debit card is the perfect low-cost solution for travellers, holidaymakers and expats.

It’s the perfect travel companion, as it’s contactless, works worldwide and is compatible with mobile wallets. Best of all, it has no foreign transaction fees.

Your Wise debit card can be used for spending and cash withdrawals in a whopping 40 currencies, in 150+ countries. This means that there’s no need for separate cards for multi-destination trips - you can do it all with just the one card.

Here are all the advantages at-a-glance:

• Open a Wise account online
• Get a Wise debit card for a one-time cost of just £7
• No monthly fees
• No foreign transaction fees
• Automatically converts currency at mid-market exchange rates and a small conversion fee.
• Works worldwide, wherever Visa and Mastercard are accepted.
• Withdraw up to £200 a month (max. 2 withdrawals) for free (Wise will not charge you for these withdrawals, but some additional charges may occur from independent ATM networks). Fee of 1.75% + 0.50 for withdrawals over this limit.

You can manage your card and account in the handy Wise app, wherever you are in the world. This includes options to freeze your card if you lose it.

Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.

How to apply for the ASDA Money Credit Card

Like the sound of the ASDA Money Credit Card? You’ll need to know how to apply. But before you do, it’s a smart idea to check the eligibility requirements.

ASDA Money also has a step for checking your eligibility before you apply. This can prevent your credit score from taking a hit if you apply for the card and are rejected.

Eligibility requirements

To apply for this card, you simply need to be a UK resident aged 18 or over.¹

And as with most credit cards, you’re more likely to be accepted if you have a good credit score and a strong credit history.

What will I need?

Before starting your application, you’ll need to make sure you have certain details and documents to hand. Here’s what you’ll need:¹

• Details of your income and employment
• Details of your financial commitments, including any debts
• Your home addresses for the last three years.

It’s also a good idea to have at least one form of photo ID on hand just in case it’s requested. A passport or driving licence should be sufficient.

You’ll need to sign up for an account with ASDA.com before applying for the ASDA Money Credit Card - or you can do it during your application.¹

How to apply - step-by-step

If you’ve checked your eligibility and have your details ready, all that’s left to do is put your application in.

It’s pretty straightforward to apply for the ASDA Money Credit Card. You can do it online, and it shouldn’t take too long. Simply follow these steps:

1. Go to the ASDA Money Credit Card website and check all the details to make sure it’s the right card for you. Read the terms and conditions carefully.
2. Click the ‘Check eligibility and apply’ button.
3. You’ll be redirected to ASDA Money’s credit card partner to start your application. Click ‘Check eligibility and apply’.
4. Sign into your ASDA account or register for a new one.
5. Follow the on-screen steps, providing your personal and financial details when requested.
6. Check the details carefully and submit your application.
7. You should receive an email from ASDA Money to confirm your application and advise you how long it’ll take to get a decision, if one isn’t made instantly.
8. Download the ASDA Money Credit Card app while you wait for your new card to arrive in the post.

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And there you have it - a handy guide to the ASDA Money Credit Card and everything it has to offer. We’ve covered interest rates, fees, features, rewards, eligibility requirements and how to apply.

It’s a decent everyday credit card, with some extra incentives on offer for loyal ASDA shoppers.

If you like the sound of it, you should be all set to check your eligibility and apply for your new credit card. Just remember to read the small print, and compare other options out there to make sure it’s the right card for you.

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Sources used:

1. ASDA Money - ASDA Money Credit Card
2. ASDA Money Credit Card Summary Box

Sources last checked on date: 18-Oct-2023