Credit card Balance Cancellation Cover
If you become ill, lose your job, or you're involved in a serious accident, it's often a real struggle to meet your credit card payments. But with Asda's optional Balance Cancellation Cover, you can get peace of mind. Balance Cancellation Cover costs 1p per £1 of your monthly statement balance including Insurance Premium Tax.
For example, if you have an outstanding balance of £600 in a month, you would pay £6 that month and if you keep your monthly balance at this level you would pay £72 over a year. In addition, interest may be charged on the premium at the current retail purchase rate if you do not pay off your statement balance in full every month.
Your full balance paid off after 3 months
Asda Balance Cancellation Cover could pay your monthly payment for the first 30 days and again after 60 days. If you're still not back on your feet or back in employment after 90 days or upon your death, we could clear the full balance of your Asda Credit Card subject to your claim being approved.
To take out Asda's optional Balance Cancellation Cover insurance for 1p for every £1 on your monthly statement balance, just remember to tick the relevant boxes when you apply for your Asda Credit Card.
Terms, conditions and certain exclusions apply - the policy summary below highlights the key facts.
Need to claim?
If the worst does happen and you have to make a claim, we'll do everything we can to make it as easy as possible. Just call us on 0870 400 4713 or write to us at Building 11, Chiswick Park, Chiswick High Road, London W4 5XR. (Calls may be recorded for training and quality purposes. Daytime calls cost up to 8p plus 6p per minute from BT lines Mon-Fri. Mobile and other providers' charges may vary).
We'll send you a claim form to complete and return to us at the address above. Please return this within 120 days of your claim date.
Want more information?
ASDA Online Account Manager
Frequently asked questions
Policy summary
Key information about Balance Cancellation Cover
