Credit cards Date:
Sainsbury's has reduced the introductory balance transfer term on one of its credit cards by one month, but it remains a highly attractive option and comfortably maintains its status as a Moneyfacts best buy.
The Long Balance Transfer Credit Card now boasts a balance transfer term of 39 months, just shy of the longest introductory period available. It comes with an introductory balance transfer fee of 2.89%, as well as a generous Nectar reward scheme, which combined with the three-month interest-free purchase term, offers borrowers the complete package.
Balance transfers must be made within the first three months of account opening in order to qualify for the interest-free deal. After their respective introductory periods have come to an end, balance transfers will be charged at an annual rate of 18.95% with a 3% fee, and standard purchases will be charged at 18.9% APR.
Borrowers must be at least 18 years old and can apply online or by phone, and should remember that rates are representative and dependent on credit ratings.
The slight reduction to the balance transfer term has done little to dent the appeal of this chart-busting card. It still offers borrowers more than three years to clear their debts, and the added benefits of an interest-free purchase term and Nectar reward scheme make this already popular credit card even more appealing. This is still 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 Any products featured may be withdrawn by their provider or changed at any time.
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.