Balance transfer card gets a boost | Product News - Moneyfacts

Product News

Balance transfer card gets a boost

Balance transfer card gets a boost

Category: Credit cards
Date: 30/12/2015

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 It is now over 6 months old so the content may be out of date.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 0% introductory balance transfer term on its Nectar Balance Transfer Card by one month, pushing it further up the Moneyfacts charts and earning it an "outstanding" rating in the process.

The basics…

The Sainsbury's Bank Nectar Balance Transfer Credit Card now boasts a 0% balance transfer term of 37 months, one of the longest terms available in its sector, as well as offering 0% on purchases for the first three months. It comes with a balance transfer fee of 2.89%.

The finer details…

Balance transfers must be made within the first three months to be eligible for the deal. After the introductory terms have come to an end, balance transfers will be charged at 18.95% per annum with a fee of 3%, while standard purchases will attract a rate of 18.95% APR.

As an added incentive, borrowers who are looking to take advantage of the 0% purchase offer can earn Nectar points on every spend (2 points per £1 spent on Sainsbury's shopping and fuel, and 1 point per £5 spent when making any other purchase). Borrowers must be at least 18 years old to apply and should remember that rates are representative and dependent on credit ratings.

Why we like it…

Sainsbury's balance transfer card has become a key competitor in this sector thanks to the increase of its introductory term, while the added benefit of Nectar points will make it especially appealing to loyal Sainsbury's shoppers. 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 Any products featured may be withdrawn by their provider or changed at any time.

 

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 Any products featured may be withdrawn by their provider or changed at any time.

 
Close