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11th September 2012

Sainsbury joins cash-back credit card battle

Sainsbury Bank, has become the latest supermarket brand bank in the UK to offer cash-back credit cards. It is to offer one 'straight' cash back card and one offering Nectar points, which can then be exchanged for discounts in a number of major UK retailers.

Tesco offers a form of cash back card awarding Tesco Club points which gain discounts in Tesco stores and provides certain other, mainly leisure based offers . Asda, owned by Walmart, is heavily promoting its cash back credit card currently.

Given general concern over personal debt and a saturated card market in the UK supermarkets have been forced to offer incentives to gain any significant new customer growth. Sainsbury Bank is a joint venture between J Sainsbury supermarket and Lloyds Banking. Tesco Bank is also offering Club Card points for those taking its Mortgage products based upon the monthly repayment amount.