Santander has launched a credit card where customers can earn £15 a month cashback every month.
That bonus also comes with an offer of 2% cashback on all purchases for the first year, which drops to 1% after that.
Other perks of the ‘Edge’ credit card include fee-free spending on purchases abroad. Domestic purchases come with a rate of 23.9% per annum (variable) plus a representative rate of 29.8% APR.
Edge credit card is only available for Santander customers
However, this new product is only available for Santander customers with a personal current account. Its affiliated Cahoot, Cater Allen and business banking account holders are not eligible for the product.
Existing Santander customers can also benefit from a range of incentives including vouchers, and prize draws with a range of ‘major brands’, according to the lender.
While you can earn as you spend with the credit card, there is a monthly fee of £3 to pay. Customers opening the account must have an income of at least £10,500 a year and live permanently in the UK.
Further, the credit card can be applied for online, over the phone, or in branch. If you are not a Santander current account holder, there are three possible accounts with which to secure the credit card.
They include:
- Everyday current account: This is a standard current account with no monthly fees
- Edge current account: Potentially £20 a month can be earned on cashback through essential bills and spending, plus a linked 7% easy access saver. This will cost account holders £3 a month.
- Edge Up current account: For a £5 monthly fee, customers can earn up to £30 a month from cashback on essential bills and spending. It has a rate of 3.50% AER in credit interest (up to £25,000) on the current account balance.
Santander head of cards, Matt Hall, said: “We are delighted to launch our new Santander Edge credit card, giving customers the opportunity to earn up to £180 a year in cashback. With people facing higher costs of living, we are always looking at how we can provide new products to support customers and make their money go further.
“Santander Edge credit card customers will also benefit from the added protection that you get when spending on a credit card and Santander also offers a range of mobile banking tools to help customers stay in control of their money.”
