Abbey launches cashback credit card

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Abbey launches cashback credit card

Tue, 04 Nov 2008

Abbey has launched a new credit card which it claims is aimed at helping people who are being squeezed by rising prices.

The new credit card will offer three per cent cashback on supermarket and petrol purchases for the fist six months.

It will also offer zero per cent balance transfers for the first nine months and interest-free purchases for three months after the account is opened.

Roger Lovering, managing director of Abbey Credit Cards, said: "The increasing cost of living, combined with the credit crunch, means families need all the help they can get to cover the cost of their weekly shopping essentials."

This was the motivation behind the new credit card, he added.

According to Mr Lovering, this is the third in a range of "innovative" credit cards that the bank has recently launched.

In related news, Moneynet.co.uk has claimed that school kids should be educated about personal finance due to the rise in the use of things such as credit cards.