Credit cards Date:
Sainsbury's Bank has launched a new 0% interest purchase and balance transfer credit card onto the market, catapulting it straight into the Moneyfacts charts straightaway for its eye-catching rates and terms.
Nectar Dual Offer Credit Card MasterCard has an interest-free term of 21 months for both purchases and balance transfers, the latter of which carries a 3.00% (min £3.00) fee, enabling it to sit comfortably in the charts.
Once the initial offers expire, standard purchases will be charged at 18.9% APR while balance transfers will carry an annual charge of 18.95% with a fee of 3.00%.
Borrowers must be Nectar cardholders and at least 18 years old to apply. Applications can be made by phone or online. As an added bonus, borrowers will earn 2 Nectar points for every £1 spent in store or on Sainsbury's fuel and 1 point for every £5 spent elsewhere using the card.
Borrowers should remember that rates are representative and dependent on their credit rating.
Remember, in order to secure a mortgage, credit card or personal loan you need to have a good credit rating. To find out if yours has a clean bill of health, contact a credit check provider, such as Experian CreditExpert to investigate your credit report.
Borrowers who are looking to clear their credit card debts but also spread the cost of further purchases are likely to look favourably upon this deal thanks to its lengthy interest-free term, while the chance to accrue Nectar points boosts its appeal even further. This is an outstanding product that fully deserves the highest Moneyfacts rating.
Moneyfacts rating: Outstanding
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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