0% balance transfer term is boosted | Product News - Moneyfacts

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0% balance transfer term is boosted

0% balance transfer term is boosted

Category: Credit cards
Date: 27/10/2015

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Sainsbury's Bank has increased the length of the interest-free term on one of its balance transfer credit cards, enabling it to move up the Moneyfacts charts as a result.

The basics…

Nectar Balance Transfer Credit Card MasterCard now has a lengthy 0% interest balance transfer term of 36 months, one of the longest interest-free terms available, and comes with an introductory fee of 2.89%. A three-month interest-free term for purchases is also available.

The finer details…

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.

Why we like it…

Borrowers who are searching for a cost-effective method with which to clear their outstanding credit card balances are likely to pay attention to this latest update. Now offering a lengthy 36-month interest-free balance transfer term, this card is bound to appeal, especially as borrowers can also profit from extra Nectar card points and three months of interest-free purchases.

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 Any products featured may be withdrawn by their provider or changed at any time.

 

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 Any products featured may be withdrawn by their provider or changed at any time.

 
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