Santander launches 123 Cashback Credit Card

Santander has announced the launch of its revolutionary new Santander 123 Cashback Credit Card on 5 September 2011, offering customers cashback on their everyday spend - the first card of its type to offer these cashback amounts on a monthly basis.

With the cost of buying everyday items such as supermarket shopping and petrol continuing to increase, the new Santander card has been designed to reward customers' loyalty by offering them:

1 per cent cashback on supermarket spending
2 per cent cashback on department store spending
3 per cent cashback on fuel spend (capped at £9.00 per month)
 
The Santander 123 Cashback Credit Card is available to all new or existing Santander customers. New customers applying for a Santander current account and using our specialist switching service will also be rewarded with £100 - this offer is available until 6 November 2011.

The 123 Cashback Credit Card has an annual fee of £24 and comes with a competitive purchase borrowing rate of 18.9 per cent (variable) - representative 22.8 per cent APR (variable) including fee.

Based on average household spend, customers will earn around £176 cashback per annum. For families with two children, the cashback could be even higher - up to £217 cashback per annum while single households could also earn up to £189 per annum - every year.

Callum Gibson, Managing Director of Santander Cards, said: "Our aim is to provide our customers with real long term value as opposed to short term benefits and the new Santander 123 Cashback Credit Card will certainly do that. That's why we've added a fee to this card as we want to make sure our customers are using this card for the right reasons. 

"The statistics speak for themselves that the cost of living is rising.  The new 123 card will help consumers with their everyday spending, by rewarding them with monthly cashback on any spend they make in supermarkets, department stores and at petrol stations. We estimate that every year, on average a family will receive £176 cashback on their annual spend - a truly unique offering in today's cashback card market. We're very excited to be bucking the trend for Balance Transfer cards, changing the way customers use their credit card as we will be rewarding their loyalty over the long term. The Santander 123 Cashback Credit Card is our latest product to offer real value to our customers."