IMGCAP(1)]
United Kingdom-based bank Abbey, part of the Spain-based Santander Group, has launched a credit card that offers 3% cashback rewards on petrol and grocery purchases for the first six months, an offer the bank hopes will appeal to UK consumers struggling with rising prices and shrinking incomes. This is the first card from Abbey that offers cashback specifically for purchases of petrol and groceries, a spokesperson for the bank tells CardLine Global. The UK has a "smattering" of cards that offer cashback deals in specific areas, a spokesperson for UK-based financial comparison Web site Moneyfacts.co.uk, tells CardLine Global. But the spokesperson could point to no other cards that offer discounts specifically for petrol and food purchases. The Abbey card could benefit consumers who spend "a large proportion of their income on those areas," the Moneyfacts spokesperson says. "This approach will not work for those who only spend a small proportion of their income on petrol and groceries or those who carry a large balance where the cashback is wiped out by any interest charges." Abbey has more than 655,000 credit card customers.
