Abbey launches 5% cash-back

by Gill Montia

Story link: Abbey launches 5% cash-back

Abbey will be providing its credit card customers with a 5% cash-back incentive, from 3rd September until the end of January 2008.

The scheme will apply to the first £1,000 of purchases from major UK supermarkets, bought with an Abbey credit card.

As the average household spends £190.23 per month in large supermarkets, the £1,000 limit could extend to five months’ worth of shopping.

The cash-back offer applies to new and existing credit card holders and those already in possession of an Abbey card need do nothing; their cards will automatically earn the cash-back.

In addition, the Abbey credit card offers 0% on balance transfers for 12 months (with a 2.5% fee), 0% on purchases for 3 months, and an APR of 15.9%.

Abbey’s credit card business was until recently managed by MBNA and since it has been brought back in house, it has operated as part of Santander’s global card operation, Santander Cards Ltd.

Roger Lovering, Managing Director of Santander Cards is promising that the cash-back method of enhancing value for Abbey customers will be followed by similar valuable benefits.