Asda Money Select Credit Card – Earn Asda Pounds, no annual fee

Did the idea of an Asda Money Select Credit Card catch your eye? Perhaps you saw the £20 Cashpot bonus or the fact that it’s designed to help you build or rebuild your credit score. It’s a tempting offer from a brand you see every week.

But this is a “credit builder” card, which means it comes with a very different set of rules. The headline Representative APR is 34.9% (variable), which is extremely high. So, is this a safe tool to help you rebuild, or a dangerous trap that could cost you a lot in interest?

In this detailed review, we are breaking down every single aspect. We’ll cover:

• A deep dive into the card’s *real* benefits (like the £20 bonus) and who they’re for.
• An honest look at the main drawback: that 34.9% APR and what it means.
• A clear expert strategy on how to use this card safely to build your score (and never pay interest).
• A transparent table of all the fees and costs.
• The exact eligibility criteria you’ll need to meet.
• A step-by-step guide to the “Check eligibility” application process.

By the end of this page, you’ll know for sure if the Asda Money Select Card is the right tool for your financial journey.

A Deep Dive into the Core Benefits

This card’s benefits are not about long 0% offers; they are about giving you a second chance and a small reward for starting. It’s issued by Jaja Finance, a specialist lender.

Benefit 1: Designed for Credit Building

This is the card’s main purpose. If your credit score is poor or “thin” (meaning you have no history), this card is designed to give you a “yes” when high-street banks might say “no”.

By getting this card and using it responsibly, you can prove your creditworthiness. Jaja Finance (the lender) will report your account activity (your balance, your payments) to all three major UK Credit Reference Agencies: **Experian, Equifax, and TransUnion**.

This is the core of “building” credit. By creating a new, positive track record of payments, you show future lenders that you are reliable. This is the first step toward getting better financial products, like a mainstream card, a car loan, or even a mortgage, in the future.

Benefit 2: The £20 Asda Money Cashpot Bonus

This is a great little welcome perk. When you open an account, you can get £20 added to your Asda Money Cashpot™. This is a simple, tangible reward just for getting started. You can then use this £20 towards your shopping in Asda, which is a real-world saving on your ‘weekly shop’. (Note: terms and conditions apply to earn this bonus, so check the official site when you apply).

Benefit 3: The “Check Your Eligibility” Soft Check

This is a crucial feature for anyone worried about their credit score. When you have a poor score, every “rejection” from a hard credit search can damage it further.

Asda Money (via Jaja Finance) offers a “soft check” tool first. This allows you to fill in your details and see if you’ll be accepted *before* you formally apply. This check will not affect your credit score and gives you the confidence to proceed only if you know you’re likely to be approved.

Benefit 4: No Annual Fee

This is simple but important. The card has a £0 annual fee. You don’t have to pay a yearly charge just for the privilege of holding the card, which is essential when your main goal is to build credit, not add to your expenses.

All Fees and Costs at a Glance

This is the most important section. The Asda Money Select card has some £0 fees, but it carries a very high interest rate to compensate. This table is based on the official Summary Box.

The Drawbacks: What to Know Before You Apply

This card is a tool, but it’s a sharp one. If used incorrectly, it will harm, not help, your finances. You MUST understand these drawbacks.

Drawback 1: The Extremely High 34.9% APR

This is the single most important thing to understand. The 34.9% interest rate is dangerously high. This card is **NOT FOR BORROWING**. It is not for your weekly shop, it is not for buying a new TV, and it is not for “just putting petrol on it until payday”.

If you carry a balance of just £200 on this card, you will be charged around £5.80 in interest *every month*. That’s nearly £70 a year in interest alone. This card *must* be paid in full every single month, without exception. It is for building credit, not for holding debt.

Drawback 2: The £12 Penalty Fees

This is a major difference from some other credit builder cards (like thimbl). If you make a late payment, Asda Money (Jaja) will charge you a £12 late payment fee. If you go over your (very low) credit limit, you’ll be hit with another £12 over-limit fee. These fees can quickly stack up and make your debt worse. This card requires you to be highly organised.

Drawback 3: No Ongoing Asda Rewards

This is a critical point of confusion. This card is the **Asda Money *Select*** card, not the main *Asda Money* rewards card. You get the £20 welcome bonus, but you do **not** earn 0.75% or 1% back on your Asda shopping. This card is purely for credit building, not for earning rewards on your ‘weekly shop’.

Drawback 4: The 2.99% Foreign Transaction Fee

Do not take this card on holiday. The 2.99% foreign transaction fee will be added to every purchase you make abroad. A £100 dinner in Spain would cost you £102.99. Use a specialist travel card or cash instead.

Expert Strategy: The Only Safe Way to Use This Card

Here is the single best way to use the Asda Money Select card to guarantee you build your score, get your £20 bonus, and never pay a penny of interest or fees.

1. Step 1: After being accepted, make a small, simple purchase at Asda to qualify for your £20 welcome bonus.
2. Step 2: Set up a Direct Debit in the Asda Money app to pay the “statement balance in full” automatically each month from your main current account. This makes it *impossible* to be late or pay interest.
3. Step 3: Put the physical Asda card in a drawer and do not use it again. You can add one tiny subscription (like Netflix, £10.99) to the card to keep it “active.”

This “set it and forget it” method automates your success. You are guaranteed to build a perfect payment history, you will never pay interest, and you will never be charged a £12 late fee.

Who Can Apply for This Card?

This card is specifically designed for people who have been rejected by high-street banks. The eligibility criteria are more flexible.

You MUST:

• Be 18 years old or over.
• Be a permanent UK resident.
• Have a Moves or Bank Account (this is standard).
• Have a UK mobile number.

This card is designed for you if:

• You have a poor or “thin” credit history.
• You have been rejected by mainstream lenders.
• You are **not** currently in an IVA, a Debt Management Plan, or have been declared bankrupt recently.

The “Check your eligibility” soft check is the best way to know if you’ll be accepted.

How to Apply for the Asda Money Select Credit Card

Applying for the Asda Money Select Credit Card starts with a soft eligibility check that will not affect your credit score. Before you begin, make sure you meet the basic criteria: you must be a UK resident and at least 18 years old.

Step 1: Visit the Official Asda Money Page

Start by heading to the official Asda Money Select Credit Card product page. Here, you can review the latest offers, rewards (like Asda Pounds), and the representative APR.

Step 2: Start the Eligibility Check

On the product page, you will find several prominent green buttons. Click on any of the “Check eligibility and apply” buttons to proceed to the next stage.

Step 3: Proceed to the Application Form

You will be directed to the secure application portal, which is managed by Jaja Finance on behalf of Asda Money. On this page, click the main “Check eligibility and apply” button again. This will launch the application form for new customers.

Step 4: Complete and Submit the Form

Fill out the application form with your personal, address, and financial details as requested. Once you have completed all the sections and reviewed your information for accuracy, you can submit the form to get a decision on your eligibility.

Mobile apps

The Asda Money credit card is supported by a mobile app for account management. Download links provided by the issuer are:

• Asda Money (Android)
• Asda Money (iOS)

The Asda Money Select Card vs. Its Alternatives

How does this card stack up against other “bad credit” options?

Alternative 1: The Asda Money Credit Card (The Rewards Card)

This is the most common point of confusion. Asda offers *two* cards. The “Asda Money Credit Card” is for people with *good* credit and offers 1% back on Asda spend. The “Asda Money *Select*” card (this one) is for people with *bad* credit and offers no ongoing rewards.

Verdict: Do not apply for this card if you are looking for shopping rewards. This card’s only job is to build your credit score so you can *qualify* for the rewards card later.

Alternative 2: thimbl Credit Builder Card

The thimbl card is another specialist credit builder.

Pros: Thimbl’s main advantage is its fee structure. It has a £0 late payment fee and a £0 over-limit fee, making it slightly safer if you are disorganised.

Cons: Thimbl does not offer a £20 welcome bonus.

Verdict: If you are 100% confident you will set up a Direct Debit and *never* be late, the Asda Money Select is better as you get a £20 bonus. If you are disorganised and fear you might miss a payment, thimbl provides a better safety net.

Frequently Asked Questions (FAQ)

1. Is the Asda Money Select card good for bad credit?

Yes. It is specifically designed for people with poor or thin credit files. The “soft check” tool makes it safe to see if you’ll be accepted.

2. What credit limit will I get?

You will get a low “starter” limit, likely between £250 and £1,500. This is a good thing; it’s designed to help you build credit safely without the risk of getting into a large amount of debt.

3. How do I get the £20 Cashpot bonus?

You typically need to be a new customer and meet the specific terms, which usually involve making a transaction within the first 60 days. The £20 is then added to your Asda Money Cashpot account, which you can manage via the app.

4. Will I earn Asda Pounds on my shopping?

No. This is the “Select” (credit builder) card. It does not earn ongoing Asda Pounds on your ‘weekly shop’. Only the main “Asda Money Credit Card” (which requires a good credit score) does that.

5. What happens if I miss a payment?

Two things will happen: 1) You will be charged a £12 late payment fee. 2) The missed payment will be reported to the credit reference agencies, which will seriously damage your credit score and undo your hard work.

Our Final Verdict: Is This the Card for You?

The Asda Money Select Credit Card is a solid, no-frills tool for one specific job: rebuilding a damaged credit score. Its £20 welcome bonus is a nice incentive, but its real value is as a stepping stone back to better financial health.

This card is ideal for you if:

• You have a poor or “thin” credit score and have been rejected by mainstream banks.
• You are highly disciplined and will follow our “Expert Strategy” to set up a full Direct Debit.
• You are a regular Asda shopper and will benefit from the £20 welcome bonus.
• You value the safety of a “soft check” to see if you’ll be approved first.

This card is NOT for you if:

• You are looking for a card to earn rewards on your weekly shop (this is the wrong card for that).
• You need to borrow money or think you will carry a balance (the 34.9% APR is far too expensive).
• You are disorganised and might miss payments (the £12 fee and credit score damage are a serious risk).
• You want a card for spending abroad (the 2.99% fee is a deal-breaker).