Abbey credit card boasts 3% cashback

Saturday, 01 November 2008 12:00

Abbey has launched a new credit card with a three per cent cashback facility on petrol and groceries.

The 'essentials' credit card is being introduced in a bid to help consumers who are feeling the pinch in their pocket as the cost of living soars during the credit crisis.

The card features a zero per cent interest rate on transfers for nine months and on purchases for three months.

It also provides cashback up to a maximum of £75 for six months which can be used at main supermarkets and petrol stations including Tesco, Sainsbury, Asda, BP and Esso.

After the offer period the interest switches to 18.9 per cent APR on balance transfers and purchases and 27.9 per cent APR on cash advances.

There are 266 credit cards available, and Abbey's new card is one of only 12 which offers cashback, according to figures by MoneyExpert.com.

Sean Gardner of MoneyExpert said Abbey had created one of the stronger offers available with its three per cent cashback deal. Most others currently paid 0.5 per cent on purchases.

But he added: "There are numerous cards out there offering APRs of 15.9 per cent so if that's all you're looking for the card is not the cheapest.

"But for those people looking specifically for rewards then this could be the answer, particularly if you tend to clock up a lot of miles or tend to put the monthly grocery shop on the credit card."

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