Abbey credit card offers cashback on supermarket purchases

From 3 September until the end of January 2008, Abbey credit card customers will benefit from five per cent cashback on the first £1,000 of purchases from major supermarkets bought with an Abbey credit card. The average household spend in large supermarkets is £190.23 per month, so the £1,000 limit covers over five months worth of shopping.

Combined with the other features of the card – 0% on balance transfers for 12 months, 0% on purchases for 3 months, and a low APR of 15.9% – this is a great value card.

The cashback offer applies to all Abbey credit cards, so new and existing customers get the same deal. Existing Abbey credit card customers’ cards don’t need to do anything – their card will automatically earn supermarket cashback.

The supermarket cashback is the first example of Abbey’s promise to deliver ongoing innovation since it brought its credit card business back in house. Previously managed by MBNA, the credit card business now operates as part of Santander’s market leading global card operation, Santander Cards Ltd.

Roger Lovering, Managing Director of Santander Cards Limited, said: "Our philosophy is all about offering real value for our customers. Supermarket cashback is the first example of that commitment. Once somebody becomes an Abbey credit card customer they can expect to see many more initiatives which offer similarly valuable benefits. It’s the model that Santander uses and its one that we know will reinforce our position as a serious challenger to the ‘big four’.”

Andrew Hagger, Head of News at Moneyfacts, said: “The revolving offer on deals is certainly innovative. If, as it has promised it will, Abbey consistently delivers deals that appeal to the mass market, for instance on shopping or petrol, then the card could well build up a reputation as a good one to opt for if you're looking for cashback.”

Rob Kenley, Head of Credit Cards at moneysupermarket.com, said: "Abbey's £50 gift to its new and existing credit card holders should attract a flurry of applications. 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."

For customers who are interested in applying for an Abbey credit card, visit abbey.com.

Other features of the Abbey credit card are:

0% balance transfer for 12 months, with a 2.5% fee (minimum £3)
0% on purchases for 3 months
Low ongoing purchase rate of 15.9%
Daily ATM withdrawal allowance of £300