29 August 2007
Abbey has launched a new credit card allowing customers to get more for their money when doing the weekly shop.
The credit card will give users 5% cashback on their first £1,000 of purchases at all major supermarkets in the UK.
Abbey hopes that the card will compete with existing credit cards offered by supermarkets including Tesco and Sainsbury's.
Available from September 3rd, the card gives new and existing Abbey credit card customers the opportunity to have 0% on balance transfers for 12 months as well as 0% on purchases for three months.
APR on the card is 15.9%, while customers can also take advantage of a daily ATM withdrawal allowance of £300.
"Our philosophy is all about offering real value for our customers. Supermarket cashback is the first example of that commitment," Roger Lovering, Managing Director of Santander Cards Limited said.
"Once somebody becomes an Abbey credit card customer they can expect to see many more initiatives which offer similarly valuable benefits.
He added: "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'."
According to figures from Abbey, the average household spend in large supermarkets is around £190 per month.
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