Asda Money: get 10% cashback when you buy insurance

Household money

Updated on 04 August 2015 | 0 Comments

You can now pocket 10% cashback when you buy an Asda insurance policy. But should you?

Take out an insurance policy with Asda before the end of October and you could pocket a whopping 10% cashback, so long as you pay using the Asda Money credit card.

Previously, if you bought an insurance policy from Asda using the supermarket’s own credit card, you would enjoy 5% cashback as a bonus. However until 31st October that cashback figure is being doubled.

The insurance policies the cashback offer applies to are car insurance, travel insurance, home insurance, breakdown cover and pet insurance.

Earning cashback with your credit card

The Asda Money credit card offers cashback on your spending, wherever you spend. You get 1% cashback on your Asda shopping and Asda fuel, and 0.5% cashback everywhere else.

Unlike most cashback credit cards, there’s no annual fee. So if you’re a regular Asda shopper and don’t fancy paying for a credit card, then the Asda Money card could be a decent bet.

However, it’s still well behind the American Express Platinum Cashback Everyday Credit Card, which offers 5% cashback on your spending in the first three months you have the card (capped at £100 cashback), followed by tiered rates of up to 1.25% depending on how much you spend. It also doesn’t come with an annual fee.

Read The best cashback credit cards to see how it compares.

The right reasons for buying insurance

Getting a bit of cash back when taking out an insurance policy is always nice. After all, insurance policies can be incredibly expensive.

However, this offer of cashback shouldn’t be the reason you choose an Asda insurance policy. Shop around, compare prices with a comparison service like loveMONEY's and check the small print to find the right policy for you and your circumstances. If, after all that, you decide an Asda policy is best for you, then go get that cashback on top.

But there’s absolutely no point signing up to an insurance policy that will cost you more in the long run, or doesn’t offer the specific cover you need, for the sake of a bit of extra cashback.

Compare insurance quotes with loveMONEY

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