Credit cards Date:
Sainsbury's Bank has extended the introductory term on its leading 0% purchase credit card, while at the same time reducing its introductory balance transfer fee by 0.11%. This has made an already outstanding card even more appealing, strengthening its position in the Moneyfacts chart for its sector.
The Sainsbury's Bank Nectar Purchase Credit Card MasterCard now has an introductory purchase term of 28 months (up from 27 months). Its introductory balance transfer fee now stands at 2.89%, and it maintains its introductory balance transfer term of 18 months from date of issue.
After the introductory periods have ended, standard purchases will be charged at 18.9% APR. Balance transfers, meanwhile, will have an annual rate of 18.95% with a 3% fee.
As an added bonus, regular Sainsbury's customers can earn 5,000 extra Nectar points when using the card to spend at least £800 on Sainsbury's shopping and fuel in the first three months. This is in addition to the two Nectar points that are gained for every £1 spent on Sainsbury's shopping and fuel, and the one Nectar point earned on every £5 spent on the card elsewhere.
The card can be opened online or over the phone, after which it can also be operated by post. Borrowers must be at least 18 years old, and should remember that rates are representative and dependent on credit ratings.
The improvements to the introductory term and fee make this competitive card even more attractive to new customers, especially those who are loyal Sainsbury's shoppers, which is why it easily maintains its place in the Best Buy chart for its sector and also keeps hold of the highest Moneyfacts rating.
Moneyfacts rating: Outstanding
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