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Abbey launches credit card with 5% cashback

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by Kay Mitchell

Abbey has introduced a new offer for its credit card customers and states that it will create a challenge to the Big Four banks (HSBC, Royal Bank of Scotland, Barclays and Lloyds TSB).

From September 3rd until the end of January, holders of the credit card will be able to claim 5% cashback on the first £1,000 spent at large supermarkets. The average household spend in major supermarkets is £190.23 per month, so the £1,000 limit covers over 5 months worth of shopping.

The cashback offer applies to all Abbey credit cards so new and existing customers will receive the same deal. The supermarket cashback is an example of Abbey’s pledge 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.

A spokesperson for Santander Cards Ltd said the idea is all about offering real value to customers. Supermarket cashback is the first example of that commitment. Once somebody becomes an Abbey credit card customer, they can look forward to many more schemes which offer similarly valuable benefits.

A spokesperson for moneysupermarket.com declared that Abbey’s £50 gift to its new and existing credit card holders should appeal to many. Several people will be spending £1,000 at supermarkets between now and the end of January.

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News posted: August 30, 2007

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